Bonds in Brazilian state-controlled oil producer Petróleo Brasileiro SA and those of banks, steelmakers and commercial property companies are expected to benefit from President Dilma Rousseff’s removal, which could usher in more business-friendly policies, Deutsche Bank Securities said in a report.
Brazil’s Senate voted last week to impeach Rousseff and she faces trial on charges of breaking budgetary rules. Vice President Michel Temer, who is replacing her, could implement measures appealing to business and investors, Deutsche Bank analyst Eduardo Vieira wrote in a report distributed late on Sunday.
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