Brazil Political Tension Outweighed by Brexit Fears: Analysts
Source: BFW (Bloomberg First Word)
People
Georgette Boele (ABN AMRO Group NV)
Luiz Portella (Banco Modal SA)
Michel Temer (Federative Republic of Brazil)
Modal Asset (Banco Modal SA)
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UUID: 7947283
(Bloomberg) -- Drops in Brazil assets is more due to external factors like the upcoming Brexit vote than the domestic political tension, analysts say.
Alert: HALISTER1- “Weakness in EM FX is more linked to the overall risk sentiment because of Brexit,” Georgette Boele, FX and precious metals strategist at ABN Amro, says in an interview by e-mail
- BRL drops, stocks fall, DI rates rise on fears that the U.K. might vote to leave the EU June 23 and may encourage other EU countries to seek split, generating great impact in markets flow, Luiz Eduardo Portella, treasurer at Modal Asset Management says in a phone interview
- Cautiousness brought by Machado plea bargain targeting acting president Temer having a muted impact over markets today after creating greater volatility yesterday
- While allegations could make approval of fiscal measures in Congress more difficult, they aren’t likely to threat Temer’s mandate, Portella says
- USD/BRL extending gains, surpassing 3.50, following broad EMFX losses
Source: BFW (Bloomberg First Word)
People
Georgette Boele (ABN AMRO Group NV)
Luiz Portella (Banco Modal SA)
Michel Temer (Federative Republic of Brazil)
Modal Asset (Banco Modal SA)
To de-activate this alert, click here
UUID: 7947283