IBOV 177,593 ▲ 2.81% IPSA 11,032 ▲ 0.06% IPC MEX 66,460 ▲ 0.53% MERVAL 3,275,671 ▲ 2.29% COLCAP 2,303.03 ▲ 0.45% BVL PERÚ 56,194.27 ▲ 1.35% USD/BRL5.11▼ 0.14% USD/MXN17.48▼ 0.39% USD/CLP925.10▼ 0.28% USD/COP3,247▼ 2.86% USD/PEN3.39▼ 0.31% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.48▼ 0.12% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.09▲ 0.81% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.04% BRENT 76.05 ▼ 0.33% WTI 71.56 ▼ 0.72% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.07% GOLD 4,110 ▼ 0.50% SILVER 60.09 ▼ 0.48% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.27 ▼ 0.76% PETR4 39.57 ▲ 0.92% VALE3 74.36 ▲ 1.65% ITUB4 44.29 ▲ 3.99% BBDC4 18.80 ▲ 4.44% ABEV3 15.83 ▲ 0.70% BBAS3 20.55 ▲ 2.75% B3SA3 15.41 ▲ 4.19% WEGE3 46.44 ▲ 1.53% PRIO3 55.50 ▼ 0.20% SUZB3 41.36 ▲ 0.80% RENT3 40.88 ▲ 3.76% AZZA3 19.16 ▲ 3.79% CSAN3 4.02 ▲ 4.15% RAIZ4 0.35 ▼ 5.41% PCAR3 2.76 — 0.00% GMAT3 3.96 ▲ 0.76% PSSA3 54.72 ▲ 2.57% CVCB3 1.26 ▲ 0.80% POSI3 4.00 ▲ 3.90% SLCE3 14.08 ▲ 2.10% NATU3 8.54 ▲ 0.95% BRKM5 6.62 ▲ 4.09% RANI3 8.00 ▲ 1.78% CSNA3 5.19 ▲ 8.13% CMIN3 5.16 ▲ 6.83% USIM5 8.43 ▲ 0.96% GGBR4 22.94 ▲ 2.05% ENEV3 27.28 ▲ 4.12% CPFE3 47.70 ▲ 3.05% CMIG4 11.36 ▲ 2.53% EQTL3 40.84 ▲ 3.37% LREN3 14.55 ▲ 2.83% VIVT3 35.89 ▲ 4.03% RAIL3 14.27 ▲ 3.78% KLABIN 17.46 ▲ 0.34% RAIA DROGASIL 18.82 ▲ 3.81% RDOR3 35.91 ▲ 2.16% HAPV3 10.54 ▲ 4.67% FLRY3 16.41 ▲ 4.19% SMTO3 16.28 ▲ 1.43% UGPA3 30.80 ▲ 2.33% VBBR3 32.95 ▲ 2.65% BBSE3 40.30 ▲ 2.60% BPAC11 58.60 ▲ 5.24% CURY3 34.16 ▲ 4.46% AERI3 2.09 ▲ 1.46% VIVARA 23.51 ▲ 4.12% COMPASS 25.64 ▲ 3.89% VAMOS 3.07 ▲ 3.72% SANB11 27.40 ▲ 4.38% ASAI3 8.93 ▲ 5.56% SBSP3 30.95 ▲ 3.17% WALMEX 49.26 ▲ 0.49% GMEXICO 198.57 ▲ 1.65% FEMSA 223.37 ▲ 0.45% CEMEX 21.83 ▲ 0.55% GFNORTE 187.66 ▲ 1.25% BIMBO 55.91 ▼ 0.04% TELEVISA 9.74 ▲ 2.63% AMX 22.64 — 0.00% GAP 413.39 ▼ 0.08% ASUR 285.84 ▲ 0.79% OMA 236.14 ▼ 0.78% KOF 181.29 ▲ 0.22% GRUMA 282.61 ▲ 0.00% KIMBER 38.16 ▼ 0.73% SQM-B 68,121 ▼ 1.42% COPEC 6,097 ▲ 1.28% BSANTANDER 78.47 ▲ 1.25% FALABELLA 5,971 ▲ 2.05% ENELAM 85.28 ▲ 1.33% CENCOSUD 2,032 ▼ 1.18% CMPC 1,108 ▲ 1.21% BANCO CHILE 187.71 ▲ 0.38% LATAM AIR 26.33 ▼ 0.27% YPF 74,250 ▼ 2.01% GGAL 8,330 ▲ 5.71% PAMPA 5,175 ▼ 0.58% TXAR 667.00 ▲ 0.38% ALUAR 977.00 ▲ 0.88% TGS 9,555 ▲ 2.63% CEPU 2,356 ▲ 1.77% MIRGOR 17,300 ▲ 0.58% COME 46.39 ▲ 2.14% LOMA NEGRA 3,573 ▲ 2.14% BYMA 313.75 ▲ 1.29% TELECOM ARG 4,213 ▲ 2.25% ECOPETROL 15.51 ▲ 0.75% BANCOLOMBIA 83.38 ▲ 3.03% GRUPO AVAL 5.07 ▲ 1.00% CREDICORP 400.80 ▲ 2.27% SOUTHERN COPPER 175.98 ▲ 0.89% BUENAVENTURA 30.12 ▲ 1.93% MERCADOLIBRE 1,857 ▲ 2.70% NUBANK 13.80 ▲ 0.95% XP 16.97 ▲ 3.38% PAGSEGURO 9.27 ▲ 2.94% STONE 11.23 ▲ 2.42% GLOBANT 29.92 ▼ 4.38% TECNOGLASS 44.16 ▲ 2.37% GAP AIRPORT 236.40 ▲ 0.82% ASUR 285.84 ▲ 0.79% OMA AIRPORT 108.37 ▲ 0.04% AMX ADR 25.91 ▲ 0.27% FEMSA ADR 127.97 ▲ 0.76% CEMEX ADR 12.52 ▲ 1.21% PETROBRAS ADR 17.23 ▲ 1.17% VALE ADR 14.51 ▲ 2.00% ITAU ADR 8.66 ▲ 4.53% SANTANDER BR 5.40 ▲ 4.96% AMBEV ADR 3.08 ▲ 1.15% CSN 1.02 ▲ 6.84% GERDAU 4.51 ▲ 2.15% LATAM ADR 56.77 ▼ 0.47% BTC 63,937 ▲ 1.18% ETH 1,795 ▲ 2.89% SOL 77.90 ▼ 0.19% XRP 1.11 ▲ 1.15% BNB 576.18 ▲ 1.36% ADA 0.17 ▲ 0.47% DOGE 0.07 ▲ 1.95% AVAX 6.76 ▲ 1.15% LINK 7.93 ▲ 2.62% DOT 0.87 ▲ 5.93% LTC 44.63 ▲ 1.98% BCH 245.75 ▲ 3.36% TRX 0.33 ▼ 0.36% XLM 0.19 ▲ 2.16% HBAR 0.07 ▲ 0.30% NEAR 1.88 ▼ 2.11% ATOM 1.59 ▲ 2.59% AAVE 96.52 ▲ 5.77% SELIC 14.25% EMBRAER 85.08 ▲ 1.45% EMBRAER ADR 66.56 ▲ 1.56% JBS 11.90 ▲ 1.41% JBS BDR 60.65 ▲ 1.00% MBRF3 15.59 ▲ 1.17% MBRFY 2.97 ▼ 1.00% INTER 5.80 ▲ 1.49% EGX 52,312 ▲ 0.54% USD/ZAR16.31▼ 0.10% USD/NGN1,376▼ 0.12% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY161.72▼ 0.41% USD/CNY6.78▼ 0.25% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD1.14▼ 0.11% GBP/USD1.34▲ 0.01% SPX 7,576 ▲ 0.43% DJI 52,690 ▲ 0.39% NDX 29,835 ▲ 0.36% RUT 2,981 ▼ 0.38% TSX 35,303 ▲ 0.29% VIX 15.23 ▼ 3.85% USD/CAD1.42▼ 0.09% US10Y 4.5690 ▲ 0.66% IBOV 177,593 ▲ 2.81% IPSA 11,032 ▲ 0.06% IPC MEX 66,460 ▲ 0.53% MERVAL 3,275,671 ▲ 2.29% COLCAP 2,303.03 ▲ 0.45% BVL PERÚ 56,194.27 ▲ 1.35% USD/BRL 5.11 ▼ 0.14% USD/MXN 17.48 ▼ 0.39% USD/CLP 925.10 ▼ 0.28% USD/COP 3,247 ▼ 2.86% USD/PEN 3.39 ▼ 0.31% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.22 ▲ 1.20% USD/PYG 6,055 ▲ 1.53% USD/BOB 10.14 ▲ 4.01% USD/DOP 58.48 ▼ 0.12% USD/CRC 448.82 ▲ 1.40% USD/GTQ 7.63 ▲ 2.28% USD/HNL 26.72 ▲ 1.50% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 158.09 ▲ 0.81% USD/TTD 6.75 ▲ 1.32% EUR/BRL 5.83 ▼ 1.03% BRENT 76.05 ▼ 0.33% WTI 71.56 ▼ 0.72% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.07% GOLD 4,110 ▼ 0.50% SILVER 60.09 ▼ 0.48% SOY 1,190 ▲ 0.83% CORN 460.25 ▲ 7.60% WHEAT 639.25 ▲ 4.58% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.25 ▼ 4.44% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.27 ▼ 0.76% PETR4 39.57 ▲ 0.92% VALE3 74.36 ▲ 1.65% ITUB4 44.29 ▲ 3.99% BBDC4 18.80 ▲ 4.44% ABEV3 15.83 ▲ 0.70% BBAS3 20.55 ▲ 2.75% B3SA3 15.41 ▲ 4.19% WEGE3 46.44 ▲ 1.53% PRIO3 55.50 ▼ 0.20% SUZB3 41.36 ▲ 0.80% RENT3 40.88 ▲ 3.76% AZZA3 19.16 ▲ 3.79% CSAN3 4.02 ▲ 4.15% RAIZ4 0.35 ▼ 5.41% PCAR3 2.76 — 0.00% GMAT3 3.96 ▲ 0.76% PSSA3 54.72 ▲ 2.57% CVCB3 1.26 ▲ 0.80% POSI3 4.00 ▲ 3.90% SLCE3 14.08 ▲ 2.10% NATU3 8.54 ▲ 0.95% BRKM5 6.62 ▲ 4.09% RANI3 8.00 ▲ 1.78% CSNA3 5.19 ▲ 8.13% CMIN3 5.16 ▲ 6.83% USIM5 8.43 ▲ 0.96% GGBR4 22.94 ▲ 2.05% ENEV3 27.28 ▲ 4.12% CPFE3 47.70 ▲ 3.05% CMIG4 11.36 ▲ 2.53% EQTL3 40.84 ▲ 3.37% LREN3 14.55 ▲ 2.83% VIVT3 35.89 ▲ 4.03% RAIL3 14.27 ▲ 3.78% KLABIN 17.46 ▲ 0.34% RAIA DROGASIL 18.82 ▲ 3.81% RDOR3 35.91 ▲ 2.16% HAPV3 10.54 ▲ 4.67% FLRY3 16.41 ▲ 4.19% SMTO3 16.28 ▲ 1.43% UGPA3 30.80 ▲ 2.33% VBBR3 32.95 ▲ 2.65% BBSE3 40.30 ▲ 2.60% BPAC11 58.60 ▲ 5.24% CURY3 34.16 ▲ 4.46% AERI3 2.09 ▲ 1.46% VIVARA 23.51 ▲ 4.12% COMPASS 25.64 ▲ 3.89% VAMOS 3.07 ▲ 3.72% SANB11 27.40 ▲ 4.38% ASAI3 8.93 ▲ 5.56% SBSP3 30.95 ▲ 3.17% WALMEX 49.26 ▲ 0.49% GMEXICO 198.57 ▲ 1.65% FEMSA 223.37 ▲ 0.45% CEMEX 21.83 ▲ 0.55% GFNORTE 187.66 ▲ 1.25% BIMBO 55.91 ▼ 0.04% TELEVISA 9.74 ▲ 2.63% AMX 22.64 — 0.00% GAP 413.39 ▼ 0.08% ASUR 285.84 ▲ 0.79% OMA 236.14 ▼ 0.78% KOF 181.29 ▲ 0.22% GRUMA 282.61 ▲ 0.00% KIMBER 38.16 ▼ 0.73% SQM-B 68,121 ▼ 1.42% COPEC 6,097 ▲ 1.28% BSANTANDER 78.47 ▲ 1.25% FALABELLA 5,971 ▲ 2.05% ENELAM 85.28 ▲ 1.33% CENCOSUD 2,032 ▼ 1.18% CMPC 1,108 ▲ 1.21% BANCO CHILE 187.71 ▲ 0.38% LATAM AIR 26.33 ▼ 0.27% YPF 74,250 ▼ 2.01% GGAL 8,330 ▲ 5.71% PAMPA 5,175 ▼ 0.58% TXAR 667.00 ▲ 0.38% ALUAR 977.00 ▲ 0.88% TGS 9,555 ▲ 2.63% CEPU 2,356 ▲ 1.77% MIRGOR 17,300 ▲ 0.58% COME 46.39 ▲ 2.14% LOMA NEGRA 3,573 ▲ 2.14% BYMA 313.75 ▲ 1.29% TELECOM ARG 4,213 ▲ 2.25% ECOPETROL 15.51 ▲ 0.75% BANCOLOMBIA 83.38 ▲ 3.03% GRUPO AVAL 5.07 ▲ 1.00% CREDICORP 400.80 ▲ 2.27% SOUTHERN COPPER 175.98 ▲ 0.89% BUENAVENTURA 30.12 ▲ 1.93% MERCADOLIBRE 1,857 ▲ 2.70% NUBANK 13.80 ▲ 0.95% XP 16.97 ▲ 3.38% PAGSEGURO 9.27 ▲ 2.94% STONE 11.23 ▲ 2.42% GLOBANT 29.92 ▼ 4.38% TECNOGLASS 44.16 ▲ 2.37% GAP AIRPORT 236.40 ▲ 0.82% ASUR 285.84 ▲ 0.79% OMA AIRPORT 108.37 ▲ 0.04% AMX ADR 25.91 ▲ 0.27% FEMSA ADR 127.97 ▲ 0.76% CEMEX ADR 12.52 ▲ 1.21% PETROBRAS ADR 17.23 ▲ 1.17% VALE ADR 14.51 ▲ 2.00% ITAU ADR 8.66 ▲ 4.53% SANTANDER BR 5.40 ▲ 4.96% AMBEV ADR 3.08 ▲ 1.15% CSN 1.02 ▲ 6.84% GERDAU 4.51 ▲ 2.15% LATAM ADR 56.77 ▼ 0.47% BTC 63,937 ▲ 1.18% ETH 1,795 ▲ 2.89% SOL 77.90 ▼ 0.19% XRP 1.11 ▲ 1.15% BNB 576.18 ▲ 1.36% ADA 0.17 ▲ 0.47% DOGE 0.07 ▲ 1.95% AVAX 6.76 ▲ 1.15% LINK 7.93 ▲ 2.62% DOT 0.87 ▲ 5.93% LTC 44.63 ▲ 1.98% BCH 245.75 ▲ 3.36% TRX 0.33 ▼ 0.36% XLM 0.19 ▲ 2.16% HBAR 0.07 ▲ 0.30% NEAR 1.88 ▼ 2.11% ATOM 1.59 ▲ 2.59% AAVE 96.52 ▲ 5.77% SELIC 14.25% EMBRAER 85.08 ▲ 1.45% EMBRAER ADR 66.56 ▲ 1.56% JBS 11.90 ▲ 1.41% JBS BDR 60.65 ▲ 1.00% MBRF3 15.59 ▲ 1.17% MBRFY 2.97 ▼ 1.00% INTER 5.80 ▲ 1.49% EGX 52,312 ▲ 0.54% USD/ZAR 16.31 ▲ 0.02% USD/NGN 1,376 ▲ 0.08% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY 161.69 ▼ 0.41% USD/CNY 6.7761 ▼ 0.23% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD 1.1419 ▼ 0.13% GBP/USD 1.3398 ▼ 0.04% SPX 7,576 ▲ 0.43% DJI 52,690 ▲ 0.39% NDX 29,835 ▲ 0.36% RUT 2,981 ▼ 0.38% TSX 35,303 ▲ 0.29% VIX 15.23 ▼ 3.85% USD/CAD 1.4154 ▼ 0.08% US10Y 4.5690 ▲ 0.66%
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Escalating feud between Brazil’s Chamber and Senate presidents over competing bills

By · August 13, 2021 · 2 min read

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RIO DE JANEIRO, BRAZIL – Senate president Rodrigo Pacheco recently publicly criticized the Chamber of Deputies for having retrieved points removed by the Senate from Provisional Measure 1040 that simplifies the opening of companies.

When being processed in the Senate, Pacheco rejected points he deemed extraneous to the text, which the Chamber had included in a first vote.

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When the text returned to the Chamber of Deputies, Chamber President Arthur Lira retrieved all provisions rejected by the Senate and sent the original text to president Jair Bolsonaro.

Chamber and Senate presidents Arthur Lira and Rodrigo Pacheco. (Photo internet reproduction)
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Given that the head of the Senate is the head of Congress, Pacheco decided to take a drastic measure. He sent a letter to Jair Bolsonaro in which he alerts the president that the Chamber “violated the principle of separation of powers and the democratic principle” by ignoring the Senate’s changes.

“When the Chamber of Deputies submitted for sanction matters that were rejected by the Federal Senate it violated the principle of separation of powers and the democratic principle, because the Conversion Bill contains matters extraneous to the original text of Provisional Measure no. 1.040/2021, and also because they were not subject to deliberation on its substance by the Federal Senate,” Pacheco wrote.

“In view of the violations to the constitutional legislative due process, it is hereby requested that the president of the Federal Senate’s decision rejecting extraneous issues to the original text of Provisional Measure no. 1.040/2021 be considered, and, consequently for the same to not be considered for purposes of sanction or veto or, alternatively, vetoed for its unconstitutionality,” the president of Congress continued.

By officially alerting Bolsonaro to the case, Pacheco takes a practical step towards taking the issue to the Federal Supreme Court (STF). He also places Bolsonaro in a dilemma: keep what Lira did or attend to the head of the Legislative branch? According to Pacheco, Bolsonaro should ignore the text sent by the Chamber and sanction the Senate’s text. Otherwise, the dispute will reach the Supreme Court.

Pacheco had said that he would take action because he considered the Chamber’s move in bypassing the Senate to be “an improper and unacceptable procedure that undermines the legislative process and the sovereignty, independence, and autonomy of institutions.”

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