The markets crossed the samba this pre-carnival Friday. THE Ibovespathe main index of actions of the Brazilian scholarship, was no longer for revelry, but expanded the losses from the early afternoon. Already the commercial dollar He went in the opposite direction and began to test the maxims of the day.
Analysts attribute the worsening of markets to the news from Brasilia. More precisely the choice of the deputy Hoffmann for the position of Minister of Institutional Relations (SRI).
Thus, the current president of the PT will be the new responsible for the political articulation of the government, in place of Alexandre Padilha, who goes to the Ministry of Health.
President Lula’s decision was a turnaround, as the world of politics was certain that Gleisi would take over the general secretary of the presidency.
Around 3:30 pm, Ibovespa retreated 1.59%at 122,810 points. At the same time, the dollar operated up 0.97%a R$ 5,895.
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Why the market fears Gleisi
In the market’s view, Gleisi’s indication can make it difficult to progress the government’s guidelines in Congress. After all, the deputy is known for the combative profile, while the area would require a more flexible negotiation profile.
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In addition, Gleisi has exposed at various times divergence with Finance Minister Fernando Haddad.
“It is always critical of what is said about fiscal adjustment. It has a more combative style, a more pamphletary tone. All this raises many doubts about how the government’s articulation will look like, which is already considered bad, “said Gustavo Jesus of RGW Investment.
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It is noteworthy that investors were no longer in a climate of revelry even before Gleisi’s appointment. The caution is bigger here, as local scholarships do not work on Monday and Tuesday of Carnival.
The external scenario nor stimulates bolder bets. Outside, markets react to the dissemination of the unexpected drop in consumer spending in the United States.
On the other hand, Personal Consumption Expenses Price Index (PCE) has shown resilience, up 0.3%, which may argue for the Federal to reserve (the US Central Bank) to cut interest cuts for some time.
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*With information from Money Times and Estadão Content.
