IBOV 176,641 ▲ 0.51% IPSA 11,024 ▲ 1.05% IPC MEX 66,514 ▲ 0.82% MERVAL 3,229,324 ▼ 0.18% COLCAP 2,298.73 ▼ 0.39% BVL PERÚ 56,428.20 ▲ 1.32% USD/BRL5.07▼ 1.23% USD/MXN17.42▼ 0.63% USD/CLP925.95▼ 0.75% USD/COP3,257▼ 0.16% USD/PEN3.39▼ 0.62% USD/ARS1,470▼ 0.88% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.31▲ 0.39% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.64% USD/TTD6.75▲ 1.19% EUR/BRL5.79▼ 0.44% BRENT 86.34 ▲ 3.65% WTI 80.54 ▲ 3.07% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.18% GOLD 4,061 ▲ 1.59% SILVER 59.09 ▲ 2.53% SOY 1,197 ▼ 0.46% CORN 461.50 ▲ 5.43% WHEAT 646.25 ▲ 3.07% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.58 ▲ 1.91% PETR4 40.66 — 0.00% VALE3 74.01 ▲ 1.59% ITUB4 43.63 ▲ 0.25% BBDC4 18.63 ▼ 0.75% ABEV3 15.81 ▼ 0.13% BBAS3 20.59 ▲ 1.73% B3SA3 15.33 ▲ 1.39% WEGE3 44.20 ▼ 0.43% PRIO3 57.57 ▲ 0.65% SUZB3 41.11 ▼ 0.92% RENT3 40.54 ▲ 0.85% AZZA3 18.85 ▼ 1.93% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.45 ▼ 5.41% GMAT3 3.96 ▲ 0.51% PSSA3 54.29 ▲ 0.46% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.81 ▼ 0.43% NATU3 8.55 ▼ 0.58% BRKM5 6.83 ▼ 1.59% RANI3 8.01 ▲ 0.75% CSNA3 5.20 ▼ 0.76% CMIN3 5.10 ▼ 6.42% USIM5 8.23 ▼ 1.79% GGBR4 23.32 ▲ 2.19% ENEV3 27.17 ▲ 1.08% CPFE3 47.20 ▲ 0.77% CMIG4 11.20 ▲ 1.17% EQTL3 40.95 ▲ 1.84% LREN3 14.29 ▲ 0.99% VIVT3 35.52 ▲ 2.27% RAIL3 14.13 ▲ 0.14% KLABIN 17.32 ▼ 0.92% RAIA DROGASIL 18.60 ▲ 2.20% RDOR3 36.05 ▲ 1.38% HAPV3 11.19 ▲ 6.98% FLRY3 16.41 ▲ 1.61% SMTO3 16.12 ▼ 1.53% UGPA3 30.11 ▼ 2.65% VBBR3 33.30 ▲ 1.65% BBSE3 40.39 ▲ 0.27% BPAC11 57.95 ▲ 0.75% CURY3 33.59 ▲ 1.42% AERI3 2.07 ▼ 0.48% VIVARA 23.43 ▲ 1.38% COMPASS 25.20 ▲ 1.74% VAMOS 3.15 ▲ 4.30% SANB11 27.34 ▼ 0.11% ASAI3 8.66 ▼ 0.57% SBSP3 30.34 ▼ 0.10% WALMEX 49.32 ▼ 0.66% GMEXICO 199.61 ▲ 2.06% FEMSA 232.52 ▲ 3.18% CEMEX 22.24 ▲ 2.11% GFNORTE 186.00 ▲ 2.16% BIMBO 56.55 ▲ 1.22% TELEVISA 9.49 ▼ 1.25% AMX 22.83 ▲ 1.06% GAP 394.05 ▼ 3.46% ASUR 275.61 ▼ 1.09% OMA 235.49 ▲ 0.93% KOF 180.00 ▼ 0.92% GRUMA 280.31 ▼ 0.38% KIMBER 38.53 ▲ 0.81% SQM-B 67,900 ▲ 1.03% COPEC 6,210 ▲ 2.52% BSANTANDER 78.64 ▲ 0.56% FALABELLA 5,875 ▼ 0.51% ENELAM 85.75 ▲ 1.84% CENCOSUD 2,040 — 0.00% CMPC 1,103 ▲ 2.32% BANCO CHILE 189.50 ▲ 2.43% LATAM AIR 24.90 — 0.00% YPF 77,775 ▲ 0.78% GGAL 7,910 ▼ 2.10% PAMPA 5,230 ▲ 0.10% TXAR 662.00 ▼ 0.38% ALUAR 949.00 ▼ 1.61% TGS 9,710 ▲ 1.46% CEPU 2,327 ▲ 0.35% MIRGOR 16,750 ▼ 1.47% COME 45.75 ▲ 2.17% LOMA NEGRA 3,533 ▲ 1.00% BYMA 301.00 ▼ 2.35% TELECOM ARG 4,333 ▲ 1.94% ECOPETROL 16.16 ▲ 1.76% BANCOLOMBIA 82.10 ▲ 2.09% GRUPO AVAL 4.95 ▲ 0.81% CREDICORP 392.24 ▲ 0.78% SOUTHERN COPPER 182.38 ▲ 4.50% BUENAVENTURA 31.03 ▲ 4.06% MERCADOLIBRE 1,874 ▲ 0.35% NUBANK 13.99 ▲ 2.34% XP 16.87 ▲ 3.05% PAGSEGURO 9.28 — 0.00% STONE 11.30 ▲ 1.35% GLOBANT 30.92 ▼ 3.74% TECNOGLASS 44.19 ▲ 3.15% GAP AIRPORT 225.95 ▼ 2.93% ASUR 275.61 ▼ 1.09% OMA AIRPORT 107.64 ▲ 1.42% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.17 ▲ 3.22% CEMEX ADR 12.80 ▲ 2.81% PETROBRAS ADR 17.92 ▲ 0.22% VALE ADR 14.59 ▲ 2.89% ITAU ADR 8.55 ▲ 0.94% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.09 ▲ 0.98% CSN 1.04 ▲ 0.49% GERDAU 4.61 ▲ 2.67% LATAM ADR 53.51 ▲ 0.34% BTC 64,752 ▲ 4.04% ETH 1,879 ▲ 5.94% SOL 77.50 ▲ 3.52% XRP 1.11 ▲ 3.86% BNB 581.38 ▲ 2.60% ADA 0.16 ▲ 4.62% DOGE 0.07 ▲ 2.98% AVAX 6.67 ▲ 3.50% LINK 8.33 ▲ 5.74% DOT 0.85 ▲ 2.21% LTC 45.19 ▲ 3.91% BCH 235.14 ▼ 0.46% TRX 0.33 ▲ 0.49% XLM 0.18 ▲ 1.81% HBAR 0.07 ▲ 0.94% NEAR 2.00 ▲ 4.34% ATOM 1.56 ▲ 1.43% AAVE 99.27 ▲ 5.20% SELIC 14.25% EMBRAER 82.49 ▼ 0.63% EMBRAER ADR 64.91 ▲ 0.67% JBS 11.83 ▲ 0.25% JBS BDR 59.75 ▼ 1.42% MBRF3 16.09 ▲ 2.35% MBRFY 3.14 ▲ 2.95% INTER 5.70 ▲ 0.89% EGX 52,299 ▼ 0.59% USD/ZAR16.35▼ 0.74% USD/NGN 1,381 — 0.00% NIKKEI 68,657 ▲ 1.35% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 7,244 ▲ 5.64% JCI 6,040 ▲ 0.03% USD/JPY162.18▼ 0.16% USD/CNY 6.7624 — 0.00% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD1.14▲ 0.43% GBP/USD1.34▲ 0.09% SPX 7,544 ▲ 0.38% DJI 52,508 ▲ 0.02% NDX 29,586 ▲ 1.10% RUT 2,965 ▲ 0.39% TSX 35,321 ▲ 0.19% VIX 16.50 ▼ 3.85% USD/CAD1.41▼ 0.73% US10Y 4.5850 ▼ 0.52% IBOV 176,641 ▲ 0.51% IPSA 11,024 ▲ 1.05% IPC MEX 66,514 ▲ 0.82% MERVAL 3,229,324 ▼ 0.18% COLCAP 2,298.73 ▼ 0.39% BVL PERÚ 56,428.20 ▲ 1.32% USD/BRL 5.07 ▼ 1.23% USD/MXN 17.42 ▼ 0.63% USD/CLP 925.95 ▼ 0.75% USD/COP 3,257 ▼ 0.16% USD/PEN 3.39 ▼ 0.62% USD/ARS 1,470 ▼ 0.88% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.31 ▲ 0.39% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.64% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.79 ▼ 0.44% BRENT 86.34 ▲ 3.65% WTI 80.54 ▲ 3.07% IRON ORE 161.91 — — COPPER 6.37 ▲ 2.18% GOLD 4,061 ▲ 1.59% SILVER 59.09 ▲ 2.53% SOY 1,197 ▼ 0.46% CORN 461.50 ▲ 5.43% WHEAT 646.25 ▲ 3.07% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.58 ▲ 1.91% PETR4 40.66 — 0.00% VALE3 74.01 ▲ 1.59% ITUB4 43.63 ▲ 0.25% BBDC4 18.63 ▼ 0.75% ABEV3 15.81 ▼ 0.13% BBAS3 20.59 ▲ 1.73% B3SA3 15.33 ▲ 1.39% WEGE3 44.20 ▼ 0.43% PRIO3 57.57 ▲ 0.65% SUZB3 41.11 ▼ 0.92% RENT3 40.54 ▲ 0.85% AZZA3 18.85 ▼ 1.93% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.45 ▼ 5.41% GMAT3 3.96 ▲ 0.51% PSSA3 54.29 ▲ 0.46% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.81 ▼ 0.43% NATU3 8.55 ▼ 0.58% BRKM5 6.83 ▼ 1.59% RANI3 8.01 ▲ 0.75% CSNA3 5.20 ▼ 0.76% CMIN3 5.10 ▼ 6.42% USIM5 8.23 ▼ 1.79% GGBR4 23.32 ▲ 2.19% ENEV3 27.17 ▲ 1.08% CPFE3 47.20 ▲ 0.77% CMIG4 11.20 ▲ 1.17% EQTL3 40.95 ▲ 1.84% LREN3 14.29 ▲ 0.99% VIVT3 35.52 ▲ 2.27% RAIL3 14.13 ▲ 0.14% KLABIN 17.32 ▼ 0.92% RAIA DROGASIL 18.60 ▲ 2.20% RDOR3 36.05 ▲ 1.38% HAPV3 11.19 ▲ 6.98% FLRY3 16.41 ▲ 1.61% SMTO3 16.12 ▼ 1.53% UGPA3 30.11 ▼ 2.65% VBBR3 33.30 ▲ 1.65% BBSE3 40.39 ▲ 0.27% BPAC11 57.95 ▲ 0.75% CURY3 33.59 ▲ 1.42% AERI3 2.07 ▼ 0.48% VIVARA 23.43 ▲ 1.38% COMPASS 25.20 ▲ 1.74% VAMOS 3.15 ▲ 4.30% SANB11 27.34 ▼ 0.11% ASAI3 8.66 ▼ 0.57% SBSP3 30.34 ▼ 0.10% WALMEX 49.32 ▼ 0.66% GMEXICO 199.61 ▲ 2.06% FEMSA 232.52 ▲ 3.18% CEMEX 22.24 ▲ 2.11% GFNORTE 186.00 ▲ 2.16% BIMBO 56.55 ▲ 1.22% TELEVISA 9.49 ▼ 1.25% AMX 22.83 ▲ 1.06% GAP 394.05 ▼ 3.46% ASUR 275.61 ▼ 1.09% OMA 235.49 ▲ 0.93% KOF 180.00 ▼ 0.92% GRUMA 280.31 ▼ 0.38% KIMBER 38.53 ▲ 0.81% SQM-B 67,900 ▲ 1.03% COPEC 6,210 ▲ 2.52% BSANTANDER 78.64 ▲ 0.56% FALABELLA 5,875 ▼ 0.51% ENELAM 85.75 ▲ 1.84% CENCOSUD 2,040 — 0.00% CMPC 1,103 ▲ 2.32% BANCO CHILE 189.50 ▲ 2.43% LATAM AIR 24.90 — 0.00% YPF 77,775 ▲ 0.78% GGAL 7,910 ▼ 2.10% PAMPA 5,230 ▲ 0.10% TXAR 662.00 ▼ 0.38% ALUAR 949.00 ▼ 1.61% TGS 9,710 ▲ 1.46% CEPU 2,327 ▲ 0.35% MIRGOR 16,750 ▼ 1.47% COME 45.75 ▲ 2.17% LOMA NEGRA 3,533 ▲ 1.00% BYMA 301.00 ▼ 2.35% TELECOM ARG 4,333 ▲ 1.94% ECOPETROL 16.16 ▲ 1.76% BANCOLOMBIA 82.10 ▲ 2.09% GRUPO AVAL 4.95 ▲ 0.81% CREDICORP 392.24 ▲ 0.78% SOUTHERN COPPER 182.38 ▲ 4.50% BUENAVENTURA 31.03 ▲ 4.06% MERCADOLIBRE 1,874 ▲ 0.35% NUBANK 13.99 ▲ 2.34% XP 16.87 ▲ 3.05% PAGSEGURO 9.28 — 0.00% STONE 11.30 ▲ 1.35% GLOBANT 30.92 ▼ 3.74% TECNOGLASS 44.19 ▲ 3.15% GAP AIRPORT 225.95 ▼ 2.93% ASUR 275.61 ▼ 1.09% OMA AIRPORT 107.64 ▲ 1.42% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.17 ▲ 3.22% CEMEX ADR 12.80 ▲ 2.81% PETROBRAS ADR 17.92 ▲ 0.22% VALE ADR 14.59 ▲ 2.89% ITAU ADR 8.55 ▲ 0.94% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.09 ▲ 0.98% CSN 1.04 ▲ 0.49% GERDAU 4.61 ▲ 2.67% LATAM ADR 53.51 ▲ 0.34% BTC 64,752 ▲ 4.04% ETH 1,879 ▲ 5.94% SOL 77.50 ▲ 3.52% XRP 1.11 ▲ 3.86% BNB 581.38 ▲ 2.60% ADA 0.16 ▲ 4.62% DOGE 0.07 ▲ 2.98% AVAX 6.67 ▲ 3.50% LINK 8.33 ▲ 5.74% DOT 0.85 ▲ 2.21% LTC 45.19 ▲ 3.91% BCH 235.14 ▼ 0.46% TRX 0.33 ▲ 0.49% XLM 0.18 ▲ 1.81% HBAR 0.07 ▲ 0.94% NEAR 2.00 ▲ 4.34% ATOM 1.56 ▲ 1.43% AAVE 99.27 ▲ 5.20% SELIC 14.25% EMBRAER 82.49 ▼ 0.63% EMBRAER ADR 64.91 ▲ 0.67% JBS 11.83 ▲ 0.25% JBS BDR 59.75 ▼ 1.42% MBRF3 16.09 ▲ 2.35% MBRFY 3.14 ▲ 2.95% INTER 5.70 ▲ 0.89% EGX 52,299 ▼ 0.59% USD/ZAR 16.35 ▲ 0.05% USD/NGN 1,381 — 0.00% NIKKEI 68,657 ▲ 1.35% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 7,244 ▲ 5.64% JCI 6,040 ▲ 0.03% USD/JPY 162.14 ▼ 0.03% USD/CNY 6.7624 — 0.00% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD 1.1432 ▲ 0.06% GBP/USD 1.3400 ▲ 0.10% SPX 7,544 ▲ 0.38% DJI 52,508 ▲ 0.02% NDX 29,586 ▲ 1.10% RUT 2,965 ▲ 0.39% TSX 35,321 ▲ 0.19% VIX 16.50 ▼ 3.85% USD/CAD 1.4051 ▼ 0.07% US10Y 4.5850 ▼ 0.52%
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Wednesday, July 15, 2026

Opinion: Lame Ducks in Brazil, a Smidgen

By · May 16, 2015 · 2 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – In the United States, where Presidents cannot legislate, people have grown accustomed to the spectacle of Congressional leaders seeking to enact their own personal agendas; particularly is this the case for “lame duck” Presidents who cannot stand for re-election. In Brazil, where re-election is a relatively new phenomenon, this has not been the case. Until now, that is.

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Congressional leaders and factions have now perceived that Dilma has definitely gone lame. She dithers over appointments; she quivers over appearances; she proclaims the economy is recovering, she propounds impossible public works; she pretends her former mentor Lula is still on her side.

That’s lame. Dilma walks lame, quacks lame, and water runs lamely off her back.

Down on the farm in Brasília, happy as pigs wallowing in mud, Congressional leaders have taken over the reins of government. Not for nothing are the sharper ones known as foxes (“raposas”) — they never miss a chance to watch over the duck pond as well as the hen house.

The Presidents of both houses of Congress belong to PMDB, the political party once Dilma’s strongest political ally. Recently, they have outdone themselves promoting their own pet projects, in detriment to those Dilma’s Finance Minister Levy would like. The Vice President, also from PMDB, has been unable to stop the rot.

What has happened in Brasília is that PMDB has taken over power from PT, which is now treated (by PMDB) as an opposition party. This is analogous to what happened in the U.S. when the Republicans took over both houses of Congress. President Dilma, as lame as President Obama, must deal with a Congress that will oppose almost every presidential initiative, simply because she proposed it.

There is, however, one significant difference — both Brazilian Congressional leaders are under investigation by the Public Prosecutor for alleged corrupt practices; the U.S. leaders are not.

The Curmudgeon will emit more Smidgens opportunely, without animal-based mixed metaphors.

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