The selloff in Brazilian assets has picked up pace as President Dilma Rousseff fends off impeachment speculation less than a year into her second term and struggles to win lawmakers’ support for measures to shore up the nation’s accounts.
“What is really amazing about it is the speed of the deterioration since the election,” says Geoffrey Dennis, the head of global emerging-market strategy at UBS Securities. “All the sources of growth in Brazil have disappeared.”
Brazil’s domestic turmoil couldn’t come at a worse time. Emerging markets around the world are declining on speculation that slowing growth in China will damage the global economy and that an increase in U.S. interest rates will lure capital away from developing nations. Still, Brazil’s decline has been more pronounced.
Brazil Energy Insight 
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