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While the international market has a positive Tuesday this morning, national investors have been woken up by the blockade of 271 sections of federal highway and President Jair Bolsonaro’s eloquent silence, according to federal highway police.
Outside, stock indexes are operating at a steady high awaiting tomorrow’s FED (Federal Reserve) decision on interest rates. The US monetary authority is expected to announce that it will slow the pace of the rate hike cycle from December after securing a further 0.75 percentage point hike. The socalled pivot in the tone of selfsufficiency holds back the movement of final yields on public bonds and rising stock markets.
Additionally, rumors circulating on social media that China is considering easing restrictions linked to the Covidzero policy sent the Asian giant’s tech shares higher in the US earlier in the day. Momentum with the sector was dampened some time later by a statement from Chinese Foreign Ministry spokesman Zhao Lijian that he was not aware of any talks in this regard.
Here, the tensions in state politics and the recent blockades of federal roads are likely to ensure a certain risk aversion among investors. Bolsonaro’s deafening silence on the election result seems to whisper approval for the demonstrations. On the other hand, Lula’s delay in appointing the economic team has also kept market fears high.
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