About this work
Bloomberg Línea reports on how Brazilian stocks and the real reacted to Lula's election victory, with UBS making fiscal credibility the key condition for a recovery. Jonathan Fortun of the IIF said the Ibovespa starts the week 11% below its pre first round level and that regaining it in reais looks possible within months, thanks to dollar earning exporters. He added that the interest rate gap slows the real's fall but does not set its level, and that quick fiscal signals matter.