This year, Brazil’s assets had outperformed this year as investors became convinced that Luiz Inácio Lula da Silva would be a safe pair of hands for the economy. However, now that he is about to take office, they are not so sure.
After winning elections last month, Lula da Silva has stepped up his plans to increase social spending, while his transition team includes names who played key roles in the government of Dilma Rousseff, his chosen successor who took the economy to a severe recession.
“Names that are thrown around inspire no one…
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