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Electoral Court Votes To Ban Bolsonaro From Re-Election

BRAZIL
  • Brazil’s top electoral court voted to declare former President Jair Bolsonaro ineligible to seek or hold public office for a second time on Tuesday, ruling that the former right-wing president abused his power during last year’s independence day celebrations. Four of the court’s seven judges voted in favour of the decision.
  • After the close, the central bank is expected to continue its easing cycle with a 50bps rate cut, bringing the Selic Rate to 12.25%. Our full preview of the decision is here: https://roar-assets-auto.rbl.ms/files/56580/MNI%20Brazil%20Central%20Bank%20Preview%20-%20Nov%202023.pdf
  • Additionally, the October manufacturing PMI (1300GMT/0900ET) and trade balance figures (1800GMT/1400ET) will be released:
    • Oct. S&P Global Brazil Manufacturing, prior 49.0
    • Oct. Trade Balance Monthly, est. $9.1b, prior $8.9b
    • Oct. Imports Total, est. $21.1b, prior $19.5b
    • Oct. Exports Total, est. $30.2b, prior $28.4b

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