Bolsono Effect ?: Sao Paulo Stock Exchange Marks Its Third consecutive Record | International



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The Sao Paulo Stock Exchange closed the first week of Jair Bolsonaro in power Beating his third consecutive record on Friday.

Although the caution appeared in the middle of the wave of optimism because of the declarations of the ultra-right wing leader, which created some confusion.

Bolsonaro took office on Tuesday, January 1 and the next day, the index Ibovenpa closed for the first time over 90,000 points (To 91,012), with an increase of 3.56%.

On Thursday, the rise was 0.61% and 0.3% on the day (to 91.840 points).

During the last session, the index reached over 92,000 points, using good US data. There. Employment and the careful feedback of Fed Chairman Jerome on interest rates.

The real one, on the other hand, said it Three-month high weekly valuation closed at 3,713 units per dollarCompared to 3,874 on December 31.

The Brazilian currency's valuation this week was 4.32%.

But the controversial ex-military 63-year-old calmed the first big draw with some statements, implying that, for example, the Pension system reformConsidered important by the markets to explain the financial situation in Brazil, it would be less likely than expected.

For the consultancy capital economics, the Brazilian markets "have a strong performance" this week dragged by the optimism that provokes the Reformist agenda promised by Bolsono.

This includes an extensive program of privatizations, reduction of state and public spending.

"But we believe the rebound can lose steam in a short time (…). There is still little evidence that Bolsono and his economic team can promote a satisfactory pension reform in the United States." Brazil's highly fragmented Congress ", They noted.

Balsonaro also created some disorientation by expressing this Friday "Concern" about the future of Brazilian aircraft manufacturer embracer, After his alliance with the American Boeing.

"That merger would be very good, but we can't (as is the case with the final proposal) that in five years everything can be transferred to the other side," he said.

After these statements, the embarrassment of the common shares of 5.02%.

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