Free Trial

Local Assets Under Pressure On Lula Picks

BRAZIL
  • Yesterday’s price action saw local asset prices come under significant pressure as President-Elect Lula announced further plans for his cabinet. Wires highlighted his choice of Workers’ Party Aloizio Mercadante to potentially run the country’s development bank, BNDES, as fuelling the selloff that saw yields in the belly of the DI curve jump around 30 basis points.
  • Additionally, Lula was certified Monday by the Electoral Court as the winner of the presidential election. While this reduces the odds of the results being questioned legally, it is worth noting supporters of President Bolsonaro then clashed with police in Brazil’s capital.
  • Brazil’s next Finance minister, Fernando Haddad, meets Central Bank chief Roberto Campos Neto and Economy Ministry team in Brasilia, during the day with a press conference scheduled for 6:30pm local time.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.