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Verde Asset Management Sees Political Turbulence Increasing

BRAZIL
  • Central bank President Roberto Campos Neto will spend the day in Sao Paulo and give a virtual speech at Arko, Traders Club public event at 9 a.m. Brasilia time.
  • Verde Asset Management on upcoming political turbulence:
    • One of Brazil’s most respected asset management firms is expecting the political temperature to rise as the gap narrows between incumbent President Bolsonaro and front-runner and former leftist President Luiz Inacio Lula da Silva ahead of the October vote.
    • “The relative lull in the local newsflow is likely to be only temporary,” Verde Asset Management said in a note to clients Friday. The election race “gives signs that it will be more competitive than what consensus previously expected”. (BBG)
  • As widely expected, Brazil's ex-president Lula officially named centrist politician and former rival Geraldo Alckmin Friday as his vice-presidential running mate.
  • The green transition will be at the centre of Lula’s economic program should Brazil’s former leftist president return to power, said Jaques Wagner, former Bahia governor and a founding member of the Workers’ Party, speaking at an event in Boston Saturday. (BBG)

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