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Investors still optimistic about pension reform, but warn of volatility

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Volatility has become the new normal in Brazil

Ibovespa’s collapse in March made investors realize the road to pension reform bill will not be an easy one, but that did not wreck their faith that it may lead to a positive outcome, judging by Brazil’s recommended portfolios for April.

Brazil’s benchmark stock index lost 0.18 percent during the month—right after reaching its 100,000-point historical peak—due to a political crisis that spread jitters across the market. Fears that the fight between House Speaker Rodrigo Maia and President Jair Bolsonaro could get in the way of the reform made the...

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