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#Bovespa

Felipe Leme stated that B3 had a historic day, with an increase of more than 7% in the Bovespa index and a drop of more than 20 cents in the dollar. He attributed the movement to the hope that Flávio could defeat Lula in the second round and interpreted the optimism as a sign of investor support for economic freedom. Leme argued that Flávio should present proposals for tax cuts and public spending reductions, citing the style of Javier Milei, who, according to him, yelled "AFUERA!" when announcing cuts in ministries. Among the measures he suggested were to end split payment and the fee on blouses, reduce ministries, and reconsider the oversight of the Income Tax. The author added that many Brazilians would be suffocated by taxes and that some of them had not even voted but could mobilize in the face of the prospect of paying less. He urged Flávio to quickly present a cuts plan and accelerate the campaign. #B3 #Bovespa #Eleições2024 (translated)

R
Reuters May 14

Brazilian financial markets experienced a significant downturn following reports linking Senator Flavio Bolsonaro to a scandal-prone banker, with speculation that the allegations could influence the upcoming presidential election, causing the Brazilian real to dip over 2% and the Bovespa stock index to fall 1.8%. #BrazilPolitics #FinancialMarket #Election2024 #BR #US

Brazil markets rattled by report linking Flavio Bolsonaro to disgraced banker