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Fear of inflation and political uproar pushes Ibovespa down



For Rodrigo Garcia, Pais loses a charismatic and sensitive leader, and he is a great friend.

Ibovespa ignores the rally in US stock exchanges this morning and continues to hit its lows, already operating in a 126,000 range. The fall is almost typical for the sectoral indices of the Brazilian Stock Exchange. The exception is metal (maximum 1.43%). Stocks in the metal goods segment surged even after falling nearly 3% in iron ore prices in China, of which Vale stands out (1.30% high).

Inside the company, experts cite some of the variables behind this departure from Ibovespa, the main one being political, in addition to the still poorly received proposal for a second round of tax reform.

“Many people think that the reform will not work, but in the end it is annoying, given the expectation of taxation of dividends among other measures of the project. If in doubt, the investor sells, ”the operator was quoted as adding pressure to the electricity sector on the day the National Electricity Agency (Aneel) publishes a new tariff with a red flag. “Despite the lower-than-expected IGP-M, inflation is worrying, and rationing concerns are still in sight,” he says.

Outside, despite the spread of the contagious delta variant of the coronavirus globally, stocks are rallying after positive data on confidence in Europe and upbeat expectations for US employment data this week.

The modest tone is also reflected in the dollar, which is appreciating against the real, despite the Treasury’s announcement of the reopening of the 2050 global issue in a new issue abroad, which analysts see as positive.

“We had better than expected data on confidence in Europe, but on the other hand, there are concerns about the global spread of the delta variant. However, in terms of indicators, the morning is weaker, and it should even heat up tomorrow due to the disclosure of job creation in the private sector in the US ADP, ”describes Cassio Bambirra, partner and head of trading at One Investimentos.

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The investor is awaiting the determination of the red flag 2 adjustment value for electricity, which should become more expensive in the context of the critical state of the country’s reservoirs, which puts new pressure on inflation and, mainly, on actions in the electricity and consumption sector.

In addition, sector B3 does not like the Interim measure, which proposes, for example, to transfer to the federal government the definition of individual actions that could negatively affect the lakes in tourist regions or the operation of waterways. The measure is one of those announced yesterday by Mines and Energy Minister Bento Albuquerque in an official radio and television announcement in the face of the water crisis.

Despite concerns about inflationary pressures in Brazil, Bambirra believes IGP-M for June (0.60% versus 4.1% in May, lower than in the same month of 2020). “Many analysts attribute the slowdown to the dollar exchange rate below 5.00 reais. This is a relief despite the water crisis, but there is an inflationary risk, ”he says.

According to Bambirra, the proposed increase in income and dividend taxation, which is part of the second phase of the tax reform project, continues to worry investors, despite reports that the rate could be 15%, but not more than 20%. “We’ve seen real estate stocks fall, but the consumer sector can benefit from income tax exemptions for lower purchasing power households who, by paying less, can channel some of those resources into consumption,” he estimates.

In the case of domestic politics, the investor is on the lookout for allegations of corruption in Covaxin purchases. Judge Rosa Weber of the Federal Supreme Court (STF) has filed with the Attorney General’s Office (PGR) a crime report filed by CPI Covid senators, who are asking for an investigation into President Jair Bolsonaro on malfeasance charges. including the purchase of an Indian vaccine.

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At 11:04 am Ibovespa’s yield was 0.65% at 126,598.74 points, after a low of 126,526.92 points and a high of 127,507.18 points.

By time: after leaving on the 23rd, the flow of foreigners on the B3 was positive at 682 million reais last Friday, the 25th, when Ibovespa fell 1.74% to 127,255.61 points.

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The dollar continues to reflect the political scenario



The dollar continues to reflect the political scenario

Yesterday, financial agents evaluated the opposite decision of the Federal Supreme Court (STF) regarding the so-called secret budget. In addition, a decision was made by STF Minister Gilmar Méndez to issue an injunction that would exclude the Bolsa Família from the spending cap rule, with investors trying to understand how this measure would affect the processing of the transitional PEC in the Chamber of Deputies. Oh this PEC!!!!

Since he is an exchange investor, any reading that the budget will be exceeded or become more flexible will negatively affect the exchange market, whether through the PEC or in any other way. We will continue with volatility today.

Looking beyond, the US Central Bank (Fed), although slowing down the pace of monetary tightening at its December meeting, issued a tougher-than-expected statement warning that its fight against inflation was not yet over, raising fears that rising US interest rates will push the world’s largest economy into recession.

The currency market continues to react to political news. The voting on the PEC is saved for today. It is expected that it will indeed be reviewed to open the way tomorrow for discussions on the 2023 budget.

Yesterday, the spot price closed the selling day at R$5.3103.

For today on the calendar we will have an index of consumer confidence in the eurozone. Good luck and good luck in business!!

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Andrés Sánchez consults with the Ministry of Sports, but refuses a political post.



The former president of the Corinthians dreams of working for the CBF as a national team coordinator. He was consulted shortly after Lula’s election.

Former Corinthians president Andrés Sánchez was advised to take a position in the Ministry of Sports under the administration of Lula (PT). However, he ruled out a return to politics. dreams of taking over the coordination of CBF selectionHow do you know PURPOSE.

No formal invitation was made to the former Corinthian representative, only a consultation on a portfolio opportunity with the new federal government, which will be sworn in on January 1, 2023.

Andrés was the Federal MP for São Paulo from 2015 to 2019. At that time he was elected by the Workers’ Party. However, the football manager begs to stay in the sport, ruling out the possibility of getting involved in politics again.

Andrés Sanchez’s desire is to fill the position of CBF tackle coordinator, which should become vacant after the 2022 World Cup. Juninho Paulista fulfills this function in Brazil’s top football institution.

The former president of Corinthians was in Qatar to follow the World Cup along with other figures in Brazilian football. During his time in the country, he strengthened his ties with the top leadership of the CBF.

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The EU has reached a political agreement on limiting gas prices – 19.12.2022



Germany sentenced Russian to life imprisonment for political murder by order of Moscow - 12/15/2021
BRUSSELS, DECEMBER 19 (ANSA). European Union countries reached a political agreement on Monday (19) to impose a natural gas price ceiling of 180 euros per megawatt hour (MWh). The main sources of income for Russia and the minimization of the use of energy as a weapon by the regime of Vladimir Putin.

The agreement was approved by a supermajority at a ministerial meeting of member states in Brussels, Belgium, after months of discussions about the best way to contain the rise in natural gas prices in the bloc caused by Russia’s invasion of Ukraine. .

The value set by the countries is well below the proposal made by the European Commission, the EU’s executive body, in November: 275 EUR/MWh. However, the countries leading the cap campaign were in favor of an even lower limit, around 100 EUR/MWh.

Germany, always wary of price controls, voted in favor of 180 euros, while Austria and the Netherlands, also skeptical of the cap, abstained. Hungary, the most pro-Russian country in the EU, voted against.

The instrument will enter into force on 15 February, but only if natural gas prices on the Amsterdam Stock Exchange exceed 180 euros/MWh for three consecutive days. In addition, the difference compared to a number of global benchmarks should be more than 35 euros.

Italy, the EU’s biggest supporter of the ceiling, has claimed responsibility for the measure. “This is a victory for Italy, which believed and worked for us to reach this agreement,” Environment and Energy Minister Gilberto Picetto tweeted.

“This is a victory for Italian and European citizens who demand energy security,” he added.

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Currently, the gas price in Amsterdam is around 110 EUR/MWh, which is already a reflection of the agreement in Brussels – in August the figure even broke the barrier of 340 EUR/MWh.

However, Russia has already threatened to stop exports to countries that adhere to the ceiling. (ANSA).

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