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☆ Brazilian Investigators Home In on Suspects in Riot Financing
▼ + stars: | 2023-01-10 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

BRASÍLIA—Brazilian authorities said Tuesday they have identified individuals in 10 states across the country who financed Sunday’s attacks on government buildings, as investigators probe links between the protests and the nation’s powerful agribusiness sector. Brazil’s Justice Minister Flávio Dino said Monday that it was indisputable that people linked to agribusiness took part in Sunday’s acts, but warned against accusing the entire sector of involvement.

SAO PAULO, Jan 10 (Reuters) - Brazilian power company Eletrobras (ELET6.SA) is investigating whether the collapse of two transmission towers is related to anti-government riots on Sunday after finding signs of sabotage, according to two people familiar with the probe. The towers - one of which fell on Sunday and the other in the early hours of Monday - were operated by Eletrobras subsidiaries Furnas and Eletronorte. Eletrobras, the mines and energy ministry and regulatory agency Aneel have set up a crisis committee to monitor potential threats to Brazil's power grid, according to a third source. A third tower operated by power transmission company Evoltz also collapsed, according to a report by Brazil's National Electric System Operator (ONS) on Tuesday. Eletrobras, Furnas and Evoltz did not immediately respond to requests for comment.

☆ Brazilian Authorities Detain 1,500 Protesters Involved in Riot
▼ + stars: | 2023-01-10 | by ( Samantha Pearson | Luciana Magalhaes | ) www.wsj.com time to read: 1 min

BRASÍLIA—Brazilian authorities detained about 1,500 supporters of former President Jair Bolsonaro who had participated in riots that targeted the Congress and other buildings, as the government expanded an investigation into the mob and who might have financed it. Protesters supporting Mr. Bolsonaro forced their way into the presidential palace, Congress and Supreme Court in the capital on Sunday, 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. Mr. da Silva wasn’t in Brasília at the time.

☆ Brazil's 2022 inflation slows sharply, misses government target
▼ + stars: | 2023-01-10 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

Central bank chief Roberto Campos Neto is legally required to publish a letter justifying the inflation target miss. It will be released on Tuesday, according to the central bank. That will give the central bank "more cause to delay the start of its easing cycle," Jackson said. According to IBGE, inflation last year was mainly impacted by the increased costs of food and beverages (+11.64%) and health and personal care items (+11.43%). State-run oil giant Petrobras (PETR4.SA) contributed to the disinflationary trend, adopting a series of price cuts when international oil prices settled.

☆ Thousands march to demand the prosecution of Brazil rioters
▼ + stars: | 2023-01-10 | by ( Mithil Aggarwal | ) www.nbcnews.com time to read: +2 min

Thousands of protesters have marched through the streets of Brazil demanding the prosecution of rioters who stormed government buildings in support of former far-right President Jair Bolsonaro. marched late Monday in a loud display of support for the country's democracy, which came under attack Sunday. The rallies came as Bolsonaro's status faced growing scrutiny, with President Joe Biden urged to remove him from the United States. Bolsonaro said late Monday that he had been admitted to a hospital in Florida, posting a picture on Twitter from his hospital bed. Brazil's former President Jair Bolsonaro on his hospital bed in Kissimmee, Fla., on Monday.

Far from ignoring Lula's challenges to control the risks of this institutional shock, investors and analysts said however that the focus remains on fiscal issues when assessing the new government in the long term. If the new parameters are considered weak by the market, it could renew fears of fiscal dominance and prevent the BCB from easing." Discussions of the new fiscal framework are key under Lula's administration, after policymakers have highlighted inflationary risks arising from leftist President-elect's 168 billion reais ($32 billion) spending proposal to meet campaign promises. "The unsettled and deeply divided political environment and related high social tension keeps risk premia high and could undermine overall governability." (.JPMEGDBRAR)A mobilized opposition with the "potential to turn violent" is the main conclusion from Sunday's protests for the political risk advisory Eurasia Group.

It was totally avoidable.”Now, Bolsonaro is in Orlando, where he has supporters among the state's growing number of Brazilian Americans. After Bolsonaro's loss, unfounded claims of election fraud, reminiscent of those in the U.S., began to surface in Brazil. Bannon had said prior to the Brazilian election that Bolsonaro would lose only if “the machines” steal the election. Leading to the presidential elections in Brazil, Trump allies exported many of the former president's campaign strategies to the Latin American country. After Bolsonaro's October loss, tens of thousands of supporters began camping outside military facilities throughout Brazil to protest his loss.

☆ 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.

☆ 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.

☆ Brazil questions some 1,000 detained protesters after rampage in capital
▼ + stars: | 2023-01-10 | by ( Leonardo Benassatto | ) www.reuters.com time to read: +3 min

Most of the supporters of far-right former President Jair Bolsonaro were detained on Monday as troops dismantled a camp in Brasilia where demonstrators set off on Sunday before storming Brazil's Congress, Supreme Court and presidential palace. Supreme Court Justice Alexandre de Moraes, who is running investigations of the "anti-democratic" protests, vowed in a speech on Tuesday to combat the "terrorists" at work in Brasilia. "Democracy will prevail and Brazilian institutions will not bend," said Moraes at the swearing-in of a new head of the federal police. They visited the ransacked Supreme Court building, which was the site most damaged by the pro-Bolsonaro rioters. The former president was admitted on Monday to hospital in Florida where he flew 48 hours before his term ended.

☆ Brazil must 'combat terrorism,' top court justice says after capital riots
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, Jan 10 (Reuters) - Brazilian Supreme Court Justice Alexandre de Moraes said on Tuesday the country must firmly combat "terrorism" and "anti-democratic people attempting a coup" after supporters of former President Jair Bolsonaro stormed Brasilia earlier this week. "Democracy will prevail and Brazilian institutions will not bend," said Moraes, who leads a probe into anti-democratic protests that has already yielded several arrests. Reporting by Ricardo Brito; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

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 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."

☆ 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.

[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.

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.

☆ Jair Bolsonaro Supporters Storm Brazil’s Congress Buildings
▼ + stars: | 2023-01-09 | by ( Samantha Pearson | ) www.wsj.com time to read: 1 min

SÃO PAULO—Thousands of protesters supporting Brazil’s former President Jair Bolsonaro stormed Congress buildings and those of the country’s Supreme Court in the capital Brasília Sunday, many calling for military intervention to remove Luiz Inácio Lula da Silva , the leftist leader who took office last week. Television images showed protesters breaking windows inside Congress and swarming up the ramp at the entrance to the presidential palace, many dressed in Brazil’s green and yellow national colors, as riot police arrived on the scene.

☆ Brazil stocks set to slide as world leaders condemn pro-Bolsonaro riots
▼ + stars: | 2023-01-09 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

BRASILIA, Brazil - Jan. 08, 2023: Damage caused at the Supreme Court by supporters of former Brazilian President Jair Bolsonaro. Bolsonaro's supporters stormed Brazil's Congress, Supreme Court and presidential palace in Brasilia on Sunday. Brazilian stocks are expected to fall on Monday after supporters of right-wing former president Jair Bolsonaro stormed government buildings on Sunday in protest against his election loss. He also accused the former president of encouraging "fascist fanatics," an allegation Bolsonaro denied in a series of tweets on Sunday. In a tweet Sunday night, U.S. President Joe Biden condemned what he called "the assault on democracy and the peaceful transfer of power in Brazil."

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