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☆ Bolsonaro is a 'big headache' for the Biden administration, analyst says
▼ + stars: | 2023-01-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBolsonaro is a 'big headache' for the Biden administration, analyst saysRachel Ziemba, founder of Ziemba Insights, discusses former Brazilian President Jair Bolsonaro's self-exile in Florida.

☆ Morning bid: Obstacle course ahead
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +6 min

San Francisco Fed President Mary Daly and Atlanta Fed chief Raphael Bostic said they expect Fed rates - now at 4.25% to 4.5% - will need to rise to a 5% to 5.25% range to sap inflation. The other big market obstacle of the week is the onset of the U.S. corporate earnings season. Four American banking giants - JPMorgan (JPM.N), Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N) - report earnings on Friday. Diaried events and data releases that may provide direction to U.S. and world markets later on Tuesday:* U.S. Dec NFIB small business survey. * U.S. Federal Reserve Chair Jerome Powell, Bank of Japan governor Haruhiko Kuroda, Bank of England Governor Andrew Bailey, Bank of Canada governor Tiff Macklem and European Central Bank board member Isabel Schnabel all speak at Swedish central bank event.

☆ Jair Bolsonaro could be deported if the US decides he's causing 'adverse foreign policy consequences'
▼ + stars: | 2023-01-10 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

Former Brazilian President Jair Bolsonaro came to Florida late last year on a visa. To deport him, the Secretary of State could rule that Bolsonaro is harming US foreign policy. Late last year, Bolsonaro, while still Brazil's head of state, came to Florida, with people spotting him everywhere from fast-food joints to grocery stores. Under federal law, Bolsonaro could be deported if the Secretary of State has "reasonable grounds" to believe that his presence in the country "would have potentially serious adverse foreign policy consequences for the United States." Under that provision, Bolsonaro could be deported whether or not he has even been charged with a crime.

☆ Side-by-side photos of Bolsonaro supporters storming Brazil's Congress demonstrates a stunning parallel to Trump supporters descending upon the Capitol on January 6
▼ + stars: | 2023-01-10 | by ( Lauren Frias | ) www.businessinsider.com time to read: 1 min

Though the riots at Brazil's capital buildings mirrored the events at the US Capitol two years prior, the January 6 riots perhaps served as the muse for one pro-Bolsonaro protester, Julio Monteiro, during a right-wing rally in Sao Paolo, Brazil, in September of last year. A man takes part in a demonstration in support of Brazilian President Jair Bolsonaro in Sao Paulo, Brazil, on September 7, 2021, on Brazil's Independence Day. MIGUEL SCHINCARIOL/AFP via Getty Images

☆ Brazil's Supreme Court orders arrest of Bolsonaro's ex-justice minister, source says
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, Jan 10 (Reuters) - Brazilian Supreme Court Justice Alexandre de Moraes has ordered the arrest of former Justice Minister Anderson Torres, who served under former President Jair Bolsonaro and who was in charge of public security in Brasilia during Sunday's invasion of government buildings, a source told Reuters on Tuesday. Torres, who was removed from office on Sunday, is currently in the United States, raising questions about his next move. The Supreme Court said it could not confirm the arrest warrant. Reporting by Ricardo Brito; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ The far-right wore Brazil's national soccer team jersey during anti-democratic riots
▼ + stars: | 2023-01-10 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +7 min

The Brazilian national team's soccer jersey has been appropriated by Bolsonaro for years. When Brazil's national team won the 2019 Copa America, Bolsonaro sat squarely with the players and trophy, smiling ear to ear as he parroted the win. "The Brazilian national team shirt is a symbol of the joy of our people," the CBF tweeted on Monday. "Brazil's yellow shirts shimmered and sparkled in the blistering white sunlight of the Mexican noon — the appointed time of kick-offs to support European TV schedules." "We can't be ashamed of wearing our green and yellow shirt," da Silva said in late November, per The Guardian.

☆ Biden speaks with Brazilian president after Bolsonaro supporters storm government buildings
▼ + stars: | 2023-01-09 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +1 min

President Joe Biden extended U.S. support to President Luiz Inácio Lula da Silva of Brazil in a phone call a day after supporters of the country's former far-right leader stormed government buildings in the country's capital. Lula accepted an invitation from Biden to visit Washington early next month to consult on a "wide-ranging shared agenda," the statement said. The call with Lula comes just a day after a group of former President Jair Bolsonaro’s supporters stormed Brazil’s Congress, Supreme Court and presidential palace, similar to the Jan. 6 attack on the U.S. Capitol by Trump supporters. On Sunday, Lula vowed to prosecute rioters involved in the assault on government buildings. He pinned "responsibility" for the attack on Bolsonaro, suggesting that there were “several speeches by the former president encouraging this."

Brazilian authorities have detained an estimated 1,500 people in connection with the attack on government buildings in the country's capital Sunday by supporters of former President Jair Bolsonaro. Security forces arrest supporters of former President Jair Bolsonaro on Sunday after retaking control of the presidential palace in Brasilia. Ton Molina / AFP - Getty ImagesChaos erupted Sunday in Brasilia as mobs protesting the country's presidential election vandalized Brazil's Congress, Supreme Court and presidential palace. He repeatedly asserted that Brazil's electronic voting machines were prone to fraud, with no evidence to support his unfounded claims. An office in Brasilia was destroyed by radical supporters of former President Jair Bolsonaro in a riot Sunday.

☆ Brazil Detains Hundreds More People, Ousts Capital’s Governor After Attacks
▼ + stars: | 2023-01-09 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

BRASÍLIA—Brazilian authorities detained more than 1,000 supporters of former President Jair Bolsonaro and removed Brasília’s federal district governor, a key ally, from his post Monday after protesters stormed the presidential palace a day earlier in what officials said was an attempt to overthrow the country’s newly-elected president. Protesters supporting the army captain-turned-politician forced their way into the presidential palace, Congress and the Supreme Court in the capital on Sunday afternoon, many calling for military intervention to oust Luiz Inácio Lula da Silva , a standard-bearer of the Latin American left who took office a week ago.

Brazil's real , snapped a three-day winning run, last down 0.4% after falling over 1% earlier in the day. A central bank survey on Monday showed Brazil's inflation and interest rate expectations for the year had risen. While most other Latin American currencies also fell, underperforming broader emerging market peers, Chile's peso rose 0.8% as copper prices hit six-month highs. Data showed Chile posted a trade surplus of $1.85 billion in the month, up from a $417 million surplus in December 2021. Data showed Mexico's headline inflation ended 2022 slightly below analysts' expectations, while core inflation appeared to have lost steam.

☆ Brazil's govt: rioters 'will not succeed' in destroying democracy'
▼ + stars: | 2023-01-09 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

The protesters swarmed into Congress, the Supreme Court and presidential palace on Sunday. Lula and the heads of the Supreme Court, Senate and Lower House also signed a letter Monday denouncing acts of terrorism and vandalism and saying they were taking legal measures. “They will not succeed in destroying Brazilian democracy. They overturned the U-shaped table at which Supreme Court justices convene, ripped a door off one justice’s office and vandalized an iconic statue outside the court. A supreme court justice temporarily suspended the regional governor.

☆ Echoes of Jan. 6: Scenes from the storming of Brazil's capital
▼ + stars: | 2023-01-09 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

Supporters of Brazil's far-right former President Jair Bolsonaro on Sunday invaded the country's Congress, presidential palace and Supreme Court, in a grim echo of the U.S. Capitol invasion two years ago by fans of former President Donald Trump.

☆ Brazil’s Top Court Orders Removal of Brasília Governor After Protests
▼ + stars: | 2023-01-09 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

BRASÍLIA—Brazil’s Supreme Court on Monday ordered the removal of Brasília’s federal district governor from his post after thousands of protesters stormed the presidential palace a day earlier in what officials said was an attempt to overthrow the country’s newly-elected leftist president. Protesters supporting Brazil’s former President Jair Bolsonaro forced their way into the presidential palace, Congress and the Supreme Court in the capital on Sunday afternoon, many calling for military intervention to oust Luiz Inácio Lula da Silva , who took office a week ago.

REUTERS/Adriano MachadoSAO PAULO/LONDON, Jan 9 (Reuters) - Brazilian equities were higher in choppy trade on Monday, a day after thousands of supporters of former President Jair Bolsonaro stormed government buildings in the capital, echoing the Jan. 6, 2021, insurrection in Washington. On Friday, both had performed better after Lula said the economy may grow while government finances are kept in check. On Monday hundreds of Brazilian police in riot gear and some on horseback amassed at an encampment of Bolsonaro supporters near Brasilia's army headquarters. "I think the situation will quickly normalize," said Cristian Maggio, head of portfolio strategy at TD Securities in London. "Yet, it is an event worth keeping an eye on, as it may not be fully over just yet."

☆ Destruction after Brazil's state institutions attack
▼ + stars: | 2023-01-09 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

☆ Brazil’s Supreme Court Orders Removal of Brasília Governor Ibaneis Rocha After Protests
▼ + stars: | 2023-01-09 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

Protesters stormed the presidential palace, Congress and the Supreme Court in Brazil’s capital on Sunday. BRASÍLIA—Brazil’s Supreme Court ordered Monday that the governor of the federal district of Brasília be removed from his post after thousands of protesters stormed the presidential palace here Sunday in what officials said was an attempt to overthrow the country’s newly-elected leftist president. Protesters supporting Brazil’s former President Jair Bolsonaro forced their way into the presidential palace, Congress and the Supreme Court in the capital Sunday afternoon, many calling for military intervention to oust Luiz Inácio Lula da Silva , who took office a week ago.

☆ Brazil markets fall as Bolsonaro supporters storm capital
▼ + stars: | 2023-01-09 | by ( Susan Mathew | ) www.reuters.com time to read: +2 min

The market impact will depend on how the Lula administration and other government institutions react to the protests, said Bertrand Delgado, head of Latam Fx and fixed income with Societe Generale. A central bank survey on Monday showed Brazil's inflation and interest rate expectations for the year had risen. While most other Latin American currencies also fell, underperforming broader emerging market peers, Chile's peso rose 0.8% as copper prices hit six-month highs. Data showed Mexico's headline inflation ended 2022 slightly below analysts' expectations, while core inflation appeared to have lost steam. In Argentina, the economy will grow significantly more than 5% in 2023, Economy Minister Sergio Massa said on Sunday.

“Bolsonaro ran on a very Trump-like ticket,” Todd Landman, professor of political science at the University of Nottingham in England, told NBC News. He also raised doubts about the integrity of the electoral process well in advance.”After his defeat to Lula in October, Bolsonaro didn’t explicitly concede. NBC News reached out to the White House for comment on congressional Democrats’ demands for Biden to remove Bolsonaro. Bolsonaro’s visa status was not immediately clear. Unlike the Jan. 6, 2021, attack at the U.S. Capitol, very few officials were in the buildings at the time of Sunday’s attacks, and Bolsonaro’s supporters faced little opposition.

☆ Morning Bid: Seeing through another shock
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +4 min

Brazil's weekend political shock reminds world markets of fragile geopolitics, but investors more broadly appear happier to stick with a new year narrative of recovery from a dire 2022. Days after his inauguration, leftist President Luiz Inacio Lula da Silva announced a federal security intervention in Brasilia until Jan. 31. Fed chair Jerome Powell speaks on Tuesday but the big data release of this week is Thursday's consumer price report. The gap between positive euro zone economic surprise indices and negative U.S. equivalents is now at its widest since June. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Dollar slips near seven-month lows after jobs data
▼ + stars: | 2023-01-09 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

But, with consumer inflation data due later this week, it's the outlook for price pressures that is still front and centre for investors. The dollar index , which measures the U.S. dollar against six major currencies, was last down 0.1% at 103.62, having fallen 1.15% on Friday as investors shifted into riskier assets. However, the labour market is still tight and likely to deter the Fed from slowing down any time soon, analysts said. The Japanese yen was the outlier among the major currencies, easing 0.2% to 132.33 per dollar. Optimism over a swift economic recovery sent China's offshore yuan towards five-month highs against the dollar on Monday.

☆ Morning Bid: Goodbye to all that
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom Westbrook:After three years, travellers are streaming into China by air, land and sea. the official newspaper of the Chinese Communist Party, the People's Daily, wrote on Sunday. The yuan punched through its 200-day moving average to its highest since August, and the dollar was in retreat wherever Chinese tourists are expected. The twin hopes, then, of a gentler Fed and reviving China are holding recession fears at bay. In emerging markets, focus is on the open of trade in the Brazilian real after hundreds of supporters of far-right former President Jair Bolsonaro were arrested during an invasion of the country's Congress, presidential palace and Supreme Court.

[1/2] Supporters of Brazil's former President Jair Bolsonaro are pictured through broken glass as they hold a demonstration against President Luiz Inacio Lula da Silva, in Brasilia, Brazil, January 8, 2023. REUTERS/Adriano MachadoMEXICO CITY/SAO PAULO, Jan 9 (Reuters) - Brazilian assets may be hit by fresh volatility on Monday after supporters of former President Jair Bolsonaro stormed key government buildings, echoing the U.S. Jan. 6 insurrection of 2021, analysts said. Ricardo Lacerda, founder and CEO of Brazilian investment bank BR Partners (BRBI11.SA), said he expects markets to react with volatility in the short term, especially on Monday, given the higher institutional risk. But Komura expects the markets to recover by the end of the week considering a strong institutional reaction against the rioters. While large sections of the Brazilian banking industry has tended to back Bolsonaro given his free market credentials relative to Lula's Workers' Party, the sector's main industry association roundly condemned Sunday's violence.

☆ Asia shares up on Fed rate wagers, China reopening lifts yuan
▼ + stars: | 2023-01-09 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 2.0% to a five-month top, with South Korean shares (.KS11) gaining 2.2%. Japan's Nikkei (.N225) was closed for a holiday but futures were trading at 26,215, compared with a cash close on Friday of 25,973. Earnings season kicks off this week with the major U.S. banks, with the Street fearing no year-on-year growth at all in overall earnings. "China reopening is one upside risk to 2023 EPS, but margin pressures, taxes, and recession present greater downside risks." Fed fund futures now imply around a 25% chance of a half-point hike in February, down from around 50% a month ago.

☆ Watch: Thousands of Bolsonaro Supporters Storm Brazil’s Congress Buildings
▼ + stars: | 2023-01-09 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Watch: McCarthy Cites Progress as House Speaker Bid Fails for Third Day Republican Kevin McCarthy says he’s not putting any timeline on his bid for House speaker after losing the 11th vote to lead the GOP-controlled chamber. Despite offering new concessions, he failed to win support from detractors within his party. Photo: Julio Cortez/AP

Chaos struck Brazil's capital Sunday when supporters of far right former President Jair Bolsonaro descended on government buildings, breached them, climbed on a rooftop and broke windows. Leftist President Luiz Inácio Lula da Silva, sworn in Jan. 1, responded by authorizing federal intervention in the Federal District until the end of January. Many among the demonstrators wore the national colors of Brazil, yellow and green, associated in recent years with Bolsonaro supporters. Brazil's President Luiz Inacio Lula da Silva walks in Planalto Palace after it was stormed by supporters of Jair Bolsonaro in Brasilia on Sunday. Eraldo Peres / APIbaneis Rocha, the governor of Brazil’s capital district, said more than 400 people involved in the demonstrations and breaches have been arrested.

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