🔔 The dashboard: Brazil’s benchmark stock index Ibovespa was up by 1.35 percent this week. Meanwhile, the Brazilian Real gained 1.40 percent against the U.S. Dollar this week.
- Biggest gains: Via (retail), +28.5 percent.
- Biggest drops: Gol (tourism), -7.73 percent.
Interest on Brazilian bonds at its highest since 2016
House Speaker Arthur Lira, an ally of President Jair Bolsonaro, postponed a floor vote on a constitutional amendment bill that would place Brazil under a state of emergency. The proposal would allow the president BRL 41.2 billion (USD 7.7 billion) in extra spending on stimulus programs and social policies. It seems though that the postponement will only delay the inevitable.
- Given the proximity to the elections, no political party wants to be associated with opposition to more social spending.
The motives. Trailing in the polls, Mr. Bolsonaro is...