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It seems that investors – especially those foreign investors that fund the country’s current account deficit – have become inured to the constant political noise coming out of Brasilia. The markets barely moved in August when Brazil’s congress was voting on a request to investigate its sitting president, Michel Temer, on corruption charges. Nor did the Bovespa show much sensitivity to June’s action in the Federal Electoral Court, which could have also unseated Temer.
Perhaps this is only natural.
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