Jair Bolsonaro

Brazil, Bolsonaro and the Bovespa

Brazilian President Jair Bolsonaro is pictured here speaking at a podium at the White House, with an American and Brazilian flag behind him.
Brazilian President Jair Bolsonaro attends a joint news conference with President Trump at the White House. Photo: Chris Kleponis-Pool/Getty Images

Brazil's last 3 presidents have not fared well legally, but its market has managed to remain stable.

Why it matters: The country's stock market has largely shaken off political turmoil as investors continue to believe in a widely unpopular pension reform current President Jair Bolsonaro has backed in an effort to repair Brazil's highly overleveraged and underfunded budget.

Trump meets his tropical twin

The two exchanged soccer jerseys in the Oval Office yesterday. (Chris Kleponis/Pool/Getty Images)
Bolsonaro and Trump exchanged soccer jerseys in the Oval Office yesterday. Photo: Chris Kleponis/Pool/Getty Images

Brazilian President Jair Bolsonaro won with a pro-American campaign that emulated President Trump, and the bromance was consummated yesterday with a White House visit that included a joint news conference.

The big picture: Top administration officials contend the rush to embrace Bolsonaro isn’t all about matching personalities. They say it’s about increasing trade — ideally at China’s expense — and confronting adversaries like Cuba and Venezuela.

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