IBOV 173,714.08 ▼ 0.06% IPSA 10,886.14 ▼ 0.56% IPC MEX 66,615.43 ▲ 0.39% MERVAL 3,199,934 ▲ 0.46% COLCAP 2,298.34 ▲ 0.58% BVL PERÚ 57,220.16 — — USD/BRL5.11▼ 0.03% USD/MXN17.53▼ 0.05% USD/CLP931.20▲ 0.67% USD/COP3,256▲ 0.14% USD/PEN3.39— 0.00% USD/ARS1,478▼ 0.03% USD/UYU40.23▲ 1.49% USD/PYG6,032▲ 1.38% USD/BOB10.65▲ 0.95% USD/DOP58.31▲ 0.02% USD/CRC446.12▲ 0.89% USD/GTQ7.62▲ 2.27% USD/HNL26.73▲ 0.32% USD/NIO 36.62 — 0.00% USD/VES735.09▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.36% USD/TTD6.74▲ 1.17% EUR/BRL5.84▼ 0.15% BRENT 90.55 ▲ 2.78% WTI 83.70 ▲ 1.47% IRON ORE 161.91 — — COPPER 6.27 ▲ 0.77% GOLD 3,992 ▼ 0.52% SILVER 56.02 ▼ 0.03% SOY 1,211 ▲ 0.56% CORN 472.25 ▲ 6.18% WHEAT 689.50 ▲ 0.99% COFFEE 304.70 ▼ 5.17% SUGAR 14.82 ▲ 2.63% ORANGE JUICE 139.35 ▲ 4.15% COTTON 78.93 ▲ 1.60% COCOA 5,753 ▲ 10.30% BEEF 220.70 ▼ 2.81% CATTLE 339.35 ▼ 2.09% LITHIUM 68.38 ▼ 0.70% PETR4 40.90 ▲ 2.53% VALE3 72.94 ▼ 0.05% ITUB4 41.96 ▼ 1.39% BBDC4 18.29 ▼ 0.65% ABEV3 15.63 ▲ 0.19% BBAS3 20.49 ▼ 1.30% B3SA3 15.20 ▼ 1.23% WEGE3 43.63 ▲ 0.32% PRIO3 57.85 ▲ 1.87% SUZB3 41.93 ▲ 0.55% RENT3 38.23 ▼ 1.62% AZZA3 18.59 ▲ 0.32% CSAN3 3.84 ▼ 1.03% RAIZ4 0.29 — 0.00% PCAR3 2.60 ▲ 0.39% GMAT3 3.88 ▼ 1.02% PSSA3 55.14 ▼ 0.14% CVCB3 1.22 ▼ 9.63% POSI3 3.80 ▼ 2.06% SLCE3 13.53 ▼ 0.59% NATU3 8.55 ▼ 0.12% BRKM5 6.19 ▲ 1.48% RANI3 7.95 ▼ 1.61% CSNA3 5.05 ▼ 0.98% CMIN3 5.33 ▼ 2.20% USIM5 8.23 ▲ 4.18% GGBR4 24.04 ▲ 0.54% ENEV3 25.68 ▼ 1.04% CPFE3 46.87 ▼ 0.68% CMIG4 11.12 ▲ 0.27% EQTL3 39.50 ▼ 0.88% LREN3 13.42 ▼ 1.69% VIVT3 35.52 ▲ 0.14% RAIL3 13.70 ▼ 1.65% KLABIN 17.58 ▲ 1.27% RAIA DROGASIL 18.55 ▲ 0.16% RDOR3 35.78 ▼ 0.25% HAPV3 11.38 ▲ 3.93% FLRY3 16.59 ▲ 1.04% SMTO3 15.45 ▼ 1.72% UGPA3 32.07 ▲ 0.25% VBBR3 34.92 ▲ 1.60% BBSE3 41.12 ▼ 0.15% BPAC11 56.18 ▼ 0.72% CURY3 30.67 ▼ 1.98% AERI3 2.02 — 0.00% VIVARA 22.44 ▼ 3.90% COMPASS 24.88 ▼ 0.12% VAMOS 3.17 ▲ 0.32% SANB11 26.65 ▼ 0.67% ASAI3 8.50 ▼ 0.70% SBSP3 29.22 ▼ 0.27% WALMEX 49.52 ▼ 0.08% GMEXICO 200.05 ▲ 0.41% FEMSA 225.68 ▲ 0.28% CEMEX 22.69 ▼ 0.40% GFNORTE 181.34 ▲ 0.53% BIMBO 58.00 ▲ 0.14% TELEVISA 9.57 ▲ 0.63% AMX 23.00 ▲ 0.97% GAP 386.00 ▼ 1.47% ASUR 279.71 ▼ 0.44% OMA 230.06 ▼ 1.30% KOF 181.10 ▲ 1.20% GRUMA 287.32 ▲ 0.34% KIMBER 38.67 ▼ 0.28% SQM-B 65,450 ▼ 0.91% COPEC 6,250 ▲ 2.02% BSANTANDER 77.00 ▼ 1.48% FALABELLA 5,835 ▼ 0.31% ENELAM 84.04 ▼ 0.90% CENCOSUD 1,995 ▼ 0.50% CMPC 1,070 ▼ 0.37% BANCO CHILE 188.50 ▼ 0.20% LATAM AIR 24.76 ▼ 2.52% YPF 77,900 ▲ 2.40% GGAL 7,860 ▼ 0.06% PAMPA 5,170 ▲ 1.17% TXAR 665.00 ▲ 0.45% ALUAR 949.50 ▲ 1.01% TGS 9,370 ▼ 0.16% CEPU 2,264 ▲ 0.18% MIRGOR 16,875 ▲ 0.75% COME 43.84 ▼ 1.39% LOMA NEGRA 3,535 ▼ 0.63% BYMA 299.00 ▼ 0.83% TELECOM ARG 4,150 ▼ 0.72% ECOPETROL 16.09 ▲ 1.84% BANCOLOMBIA 80.41 ▲ 1.18% GRUPO AVAL 4.92 ▼ 1.01% CREDICORP 390.70 ▲ 0.84% SOUTHERN COPPER 172.48 ▼ 1.81% BUENAVENTURA 30.24 ▲ 0.23% MERCADOLIBRE 1,814 ▼ 2.34% NUBANK 13.59 ▼ 1.45% XP 16.67 ▼ 0.06% PAGSEGURO 9.04 ▼ 1.20% STONE 11.15 ▼ 0.45% GLOBANT 32.23 ▲ 0.09% TECNOGLASS 46.48 ▼ 0.75% GAP AIRPORT 220.91 ▼ 1.94% ASUR 279.71 ▼ 0.44% OMA AIRPORT 105.31 ▼ 1.77% AMX ADR 26.27 ▲ 0.50% FEMSA ADR 129.02 ▼ 0.36% CEMEX ADR 12.98 ▼ 0.92% PETROBRAS ADR 17.97 ▲ 2.86% VALE ADR 14.19 ▼ 0.21% ITAU ADR 8.21 ▼ 1.14% SANTANDER BR 5.24 ▼ 1.04% AMBEV ADR 3.03 ▼ 0.66% CSN 0.99 ▼ 0.89% GERDAU 4.73 ▲ 0.11% LATAM ADR 52.56 ▼ 1.17% BTC 64,973 ▲ 0.27% ETH 1,887 ▲ 1.37% SOL 76.80 ▲ 1.77% XRP 1.10 ▲ 1.01% BNB 572.10 ▲ 0.32% ADA 0.17 ▲ 0.65% DOGE 0.07 ▲ 0.54% AVAX 6.53 ▼ 0.63% LINK 8.46 ▲ 1.34% DOT 0.82 ▼ 1.55% LTC 47.30 ▲ 0.63% BCH 214.84 ▼ 2.39% TRX 0.33 ▲ 0.46% XLM 0.19 ▲ 1.09% HBAR 0.07 ▼ 0.26% NEAR 1.93 ▲ 0.07% ATOM 1.48 ▼ 0.97% AAVE 90.08 ▲ 0.20% SELIC 14.25% EMBRAER 81.75 ▼ 0.02% EMBRAER ADR 64.09 ▼ 0.44% JBS 11.91 ▼ 1.00% JBS BDR 60.20 ▼ 2.11% MBRF3 15.03 ▼ 1.70% MBRFY 2.90 ▼ 1.02% INTER 5.37 ▼ 3.07% EGX 52,560 — 0.00% USD/ZAR16.55▲ 0.37% USD/NGN 1,378 — 0.00% NIKKEI 64,141 ▼ 4.03% CSI300 4,529 ▼ 3.60% HSI 24,562 ▼ 1.78% NIFTY 24,334 ▲ 1.09% KOSPI 6,821 ▼ 6.37% JCI 6,176 ▲ 1.10% USD/JPY162.49▲ 0.06% USD/CNY 6.7677 — 0.00% DAX 24,831 ▼ 0.34% CAC 8,339 ▼ 0.47% FTSE 10,600 ▲ 0.27% MIB 51,882 ▼ 0.94% IBEX 19,217 ▼ 0.45% STOXX 641.53 ▼ 0.34% EUR/USD1.14▼ 0.05% GBP/USD1.34▼ 0.03% SPX 7,458 ▼ 1.01% DJI 52,146 ▼ 0.77% NDX 28,593 ▼ 1.49% RUT 2,962 ▼ 0.42% TSX 35,264 ▼ 0.22% VIX 18.77 ▲ 12.19% USD/CAD1.40▼ 0.04% US10Y 4.5410 ▼ 0.61% IBOV 173,714.08 ▼ 0.06% IPSA 10,886.14 ▼ 0.56% IPC MEX 66,615.43 ▲ 0.39% MERVAL 3,199,934 ▲ 0.46% COLCAP 2,298.34 ▲ 0.58% BVL PERÚ 57,220.16 — — USD/BRL 5.11 ▼ 0.03% USD/MXN 17.53 ▼ 0.05% USD/CLP 931.20 ▲ 0.67% USD/COP 3,256 ▲ 0.14% USD/PEN 3.39 ▲ 0.00% USD/ARS 1,478 ▼ 0.03% USD/UYU 40.23 ▲ 1.49% USD/PYG 6,032 ▲ 1.38% USD/BOB 10.65 ▲ 0.95% USD/DOP 58.31 ▲ 0.02% USD/CRC 446.12 ▲ 0.89% USD/GTQ 7.62 ▲ 2.27% USD/HNL 26.73 ▲ 0.32% USD/NIO 36.62 — 0.00% USD/VES 735.09 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.36% USD/TTD 6.74 ▲ 1.17% EUR/BRL 5.84 ▼ 0.15% BRENT 90.55 ▲ 2.78% WTI 83.70 ▲ 1.47% IRON ORE 161.91 — — COPPER 6.27 ▲ 0.77% GOLD 3,992 ▼ 0.52% SILVER 56.02 ▼ 0.03% SOY 1,211 ▲ 0.56% CORN 472.25 ▲ 6.18% WHEAT 689.50 ▲ 0.99% COFFEE 304.70 ▼ 5.17% SUGAR 14.82 ▲ 2.63% ORANGE JUICE 139.35 ▲ 4.15% COTTON 78.93 ▲ 1.60% COCOA 5,753 ▲ 10.30% BEEF 220.70 ▼ 2.81% CATTLE 339.35 ▼ 2.09% LITHIUM 68.38 ▼ 0.70% PETR4 40.90 ▲ 2.53% VALE3 72.94 ▼ 0.05% ITUB4 41.96 ▼ 1.39% BBDC4 18.29 ▼ 0.65% ABEV3 15.63 ▲ 0.19% BBAS3 20.49 ▼ 1.30% B3SA3 15.20 ▼ 1.23% WEGE3 43.63 ▲ 0.32% PRIO3 57.85 ▲ 1.87% SUZB3 41.93 ▲ 0.55% RENT3 38.23 ▼ 1.62% AZZA3 18.59 ▲ 0.32% CSAN3 3.84 ▼ 1.03% RAIZ4 0.29 — 0.00% PCAR3 2.60 ▲ 0.39% GMAT3 3.88 ▼ 1.02% PSSA3 55.14 ▼ 0.14% CVCB3 1.22 ▼ 9.63% POSI3 3.80 ▼ 2.06% SLCE3 13.53 ▼ 0.59% NATU3 8.55 ▼ 0.12% BRKM5 6.19 ▲ 1.48% RANI3 7.95 ▼ 1.61% CSNA3 5.05 ▼ 0.98% CMIN3 5.33 ▼ 2.20% USIM5 8.23 ▲ 4.18% GGBR4 24.04 ▲ 0.54% ENEV3 25.68 ▼ 1.04% CPFE3 46.87 ▼ 0.68% CMIG4 11.12 ▲ 0.27% EQTL3 39.50 ▼ 0.88% LREN3 13.42 ▼ 1.69% VIVT3 35.52 ▲ 0.14% RAIL3 13.70 ▼ 1.65% KLABIN 17.58 ▲ 1.27% RAIA DROGASIL 18.55 ▲ 0.16% RDOR3 35.78 ▼ 0.25% HAPV3 11.38 ▲ 3.93% FLRY3 16.59 ▲ 1.04% SMTO3 15.45 ▼ 1.72% UGPA3 32.07 ▲ 0.25% VBBR3 34.92 ▲ 1.60% BBSE3 41.12 ▼ 0.15% BPAC11 56.18 ▼ 0.72% CURY3 30.67 ▼ 1.98% AERI3 2.02 — 0.00% VIVARA 22.44 ▼ 3.90% COMPASS 24.88 ▼ 0.12% VAMOS 3.17 ▲ 0.32% SANB11 26.65 ▼ 0.67% ASAI3 8.50 ▼ 0.70% SBSP3 29.22 ▼ 0.27% WALMEX 49.52 ▼ 0.08% GMEXICO 200.05 ▲ 0.41% FEMSA 225.68 ▲ 0.28% CEMEX 22.69 ▼ 0.40% GFNORTE 181.34 ▲ 0.53% BIMBO 58.00 ▲ 0.14% TELEVISA 9.57 ▲ 0.63% AMX 23.00 ▲ 0.97% GAP 386.00 ▼ 1.47% ASUR 279.71 ▼ 0.44% OMA 230.06 ▼ 1.30% KOF 181.10 ▲ 1.20% GRUMA 287.32 ▲ 0.34% KIMBER 38.67 ▼ 0.28% SQM-B 65,450 ▼ 0.91% COPEC 6,250 ▲ 2.02% BSANTANDER 77.00 ▼ 1.48% FALABELLA 5,835 ▼ 0.31% ENELAM 84.04 ▼ 0.90% CENCOSUD 1,995 ▼ 0.50% CMPC 1,070 ▼ 0.37% BANCO CHILE 188.50 ▼ 0.20% LATAM AIR 24.76 ▼ 2.52% YPF 77,900 ▲ 2.40% GGAL 7,860 ▼ 0.06% PAMPA 5,170 ▲ 1.17% TXAR 665.00 ▲ 0.45% ALUAR 949.50 ▲ 1.01% TGS 9,370 ▼ 0.16% CEPU 2,264 ▲ 0.18% MIRGOR 16,875 ▲ 0.75% COME 43.84 ▼ 1.39% LOMA NEGRA 3,535 ▼ 0.63% BYMA 299.00 ▼ 0.83% TELECOM ARG 4,150 ▼ 0.72% ECOPETROL 16.09 ▲ 1.84% BANCOLOMBIA 80.41 ▲ 1.18% GRUPO AVAL 4.92 ▼ 1.01% CREDICORP 390.70 ▲ 0.84% SOUTHERN COPPER 172.48 ▼ 1.81% BUENAVENTURA 30.24 ▲ 0.23% MERCADOLIBRE 1,814 ▼ 2.34% NUBANK 13.59 ▼ 1.45% XP 16.67 ▼ 0.06% PAGSEGURO 9.04 ▼ 1.20% STONE 11.15 ▼ 0.45% GLOBANT 32.23 ▲ 0.09% TECNOGLASS 46.48 ▼ 0.75% GAP AIRPORT 220.91 ▼ 1.94% ASUR 279.71 ▼ 0.44% OMA AIRPORT 105.31 ▼ 1.77% AMX ADR 26.27 ▲ 0.50% FEMSA ADR 129.02 ▼ 0.36% CEMEX ADR 12.98 ▼ 0.92% PETROBRAS ADR 17.97 ▲ 2.86% VALE ADR 14.19 ▼ 0.21% ITAU ADR 8.21 ▼ 1.14% SANTANDER BR 5.24 ▼ 1.04% AMBEV ADR 3.03 ▼ 0.66% CSN 0.99 ▼ 0.89% GERDAU 4.73 ▲ 0.11% LATAM ADR 52.56 ▼ 1.17% BTC 64,973 ▲ 0.27% ETH 1,887 ▲ 1.37% SOL 76.80 ▲ 1.77% XRP 1.10 ▲ 1.01% BNB 572.10 ▲ 0.32% ADA 0.17 ▲ 0.65% DOGE 0.07 ▲ 0.54% AVAX 6.53 ▼ 0.63% LINK 8.46 ▲ 1.34% DOT 0.82 ▼ 1.55% LTC 47.30 ▲ 0.63% BCH 214.84 ▼ 2.39% TRX 0.33 ▲ 0.46% XLM 0.19 ▲ 1.09% HBAR 0.07 ▼ 0.26% NEAR 1.93 ▲ 0.07% ATOM 1.48 ▼ 0.97% AAVE 90.08 ▲ 0.20% SELIC 14.25% EMBRAER 81.75 ▼ 0.02% EMBRAER ADR 64.09 ▼ 0.44% JBS 11.91 ▼ 1.00% JBS BDR 60.20 ▼ 2.11% MBRF3 15.03 ▼ 1.70% MBRFY 2.90 ▼ 1.02% INTER 5.37 ▼ 3.07% EGX 52,560 — 0.00% USD/ZAR 16.55 ▲ 0.17% USD/NGN 1,378 — 0.00% NIKKEI 64,141 ▼ 4.03% CSI300 4,529 ▼ 3.60% HSI 24,562 ▼ 1.78% NIFTY 24,334 ▲ 1.09% KOSPI 6,821 ▼ 6.37% JCI 6,176 ▲ 1.10% USD/JPY 162.52 ▲ 0.10% USD/CNY 6.7677 — 0.00% DAX 24,831 ▼ 0.34% CAC 8,339 ▼ 0.47% FTSE 10,600 ▲ 0.27% MIB 51,882 ▼ 0.94% IBEX 19,217 ▼ 0.45% STOXX 641.53 ▼ 0.34% EUR/USD 1.1430 ▼ 0.14% GBP/USD 1.3445 ▼ 0.05% SPX 7,458 ▼ 1.01% DJI 52,146 ▼ 0.77% NDX 28,593 ▼ 1.49% RUT 2,962 ▼ 0.42% TSX 35,264 ▼ 0.22% VIX 18.77 ▲ 12.19% USD/CAD 1.4019 ▲ 0.01% US10Y 4.5410 ▼ 0.61%
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Analysis: Bolsonaro’s Recent Focus on Poorest Population Stymies the Opposition

By · August 27, 2020 · 3 min read

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RIO DE JANEIRO, BRAZIL – Jair Bolsonaro was elected President with the vote of the wealthiest. He seeks reelection with the vote of the poorest. The wealthy adopted him two years ago to defeat the PT (Workers’ Party). The middle class too, but it has always been unreliable.

Thus, Bolsonaro may lament the fact that his sudden preferential option for the poor undermines the fiscal adjustment, but so be it.

Bolsonaro laments the fact that his sudden preferential option for the poor undermines the fiscal adjustment, but so be it.
Bolsonaro laments the fact that his sudden preferential option for the poor undermines the fiscal adjustment, but so be it. (Photo: internet reproduction)
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So, Paulo Guedes, what would be the point in tidying up the government so that someone else, other than Bolsonaro, could later benefit from this?

In the second round of the 2018 election, Bolsonaro won in 97 percent of the wealthiest cities, and Haddad in 98 percent of the poorest.

In the wealthiest agribusiness regions, Bolsonaro won 61.54 percent of the valid votes against 38.46 percent for Haddad.

Haddad won in more municipalities – 2,810 to 2,760. Still, Bolsonaro had 10.7 million more total votes than he did.

There was a time when the Northeasterners’ vote sustained Arena, a pseudo-party created by the 1964 military dictatorship.

And there was a time, more recently, when it sustained four PT governments. Or rather: three and a half governments.

The Northeasterners’ hearts have always beaten faster for governments or parties that have met their needs. Obviously.

With the Covid-19 emergency aid, Bolsonaro’s rejection rate in the Northeast plummeted from 52 percent in June to 35 percent now.

Guedes wanted the aid to be R$200 (US$40) per month. The Congress asked for R$500. Bolsonaro granted R$600.

The Economy Minister estimated that in its first three months, the aid cost R$152 billion.

But the aid was eventually extended for another three months. And it will remain in place until December. Guedes is willing to pay R$250. Bolsonaro wants R$300.

Opposition parties, which govern eight of the nine states in the Northeast, are perplexed and do not know what to do.

Bolsonaro has removed what used to be their prime votegetters. Bolsa Família (Family Grant) is out, Renda Brasil (Brazil Income) is in. Out with ‘Minha Casa, Minha Vida’ (My Home, My Life), in with ‘Casa Verde e Amarela’ (Green and Yellow House).

Always spending a little more money prevents the changes from looking like merely cosmetic measures or misappropriation of famous trademarks.

If Bolsonaro breaks down the Northeasterners’ doors, he will hardly fail to be reelected in 2022. It would take a broad party front to defeat him.

This will only be possible if PT agrees to give up leadership of the left-wing parties. But Lula argues that it cannot be so.

What if no other opposition candidate stands ahead of the PT candidate on the eve of the first round?

There is an argument that a candidate supported by left, right and center parties, such as PT, PSDB, DEM, PSB, PDT, could deter Bolsonaro.

What Bolsonaro most wants in 2022 is to face a PT candidate in the second round. What he most fears is to run against another type of candidate.

Source: Ricardo Noblat in Veja Magazine, August 26, 2020

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