Good morning. In today’s issue: Are markets bailing on Brazil? Congresswoman asks for police protection from Tourism Minister. Financial aid program for states could deepen regional inequality. Embrapa to launch genetically-modified pinto beans.
Are markets bailing on Brazil?
The positive (though inconsistent) performance of the São Paulo stock exchange hides a growing pessimism among market operators about the Brazilian economy. Investors have recently shifted their portfolios from companies depending on domestic consumption, to focus more on exporters. The best-performing companies this year are driven by sales abroad—notably in the commodities and energy sectors.
