Brazil political risk looms large again over markets

Political risk is again emerging as a major source of market instability in Brazil, as a series of setbacks for President Jair Bolsonaro sucks the life out of a broad-based recovery that had appeared to be gathering momentum following March’s market crash.

Brazil’s status as the world’s No. 2 COVID-19 hot spot, Bolsonaro’s mishandling of the pandemic, his battles with the Supreme Court and Congress, and cabinet resignations have thrust Brasilia firmly into investors’ line of vision.

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