Domestic Assets Drive Noise and Have a Week of Gains, With An Eye on the Fed and China
Industrial policy encouraged by BNDES. Pressure to appoint Guido Mantega to command Vale. And, finally, release of IPCA-15 data one hour ahead of schedule. Stress was not what investors were missing this week, fearful that policies from the first PT governments would resurface. But even so, domestic assets managed to end with gains over the last five days. Firstly, because the government has insisted that the Treasury will not irrigate the development bank’s coffers, Mantega has reportedly given up his position at the mining company and the inflation index leak appears to be just a technological error. Read More.
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