Investors brimmed with optimism when Luiz Inácio Lula da Silva was elected Brazil’s president on Oct. 30, returning to power after two prior terms in 2003 to 2011. It didn’t last.
The
iShares MSCI Brazil
exchange-traded fund (ticker: EWZ) has dropped 17% since then. The real has slipped 4% against the dollar. Lula, as the 77-year-old leader is known, formally started his third term on Jan. 1. He spent the two-month interregnum dispelling illusions that time had tempered his leftist principles.
Source: https://www.barrons.com/articles/brazil-president-stocks-bonds-buy-51672960433?siteid=yhoof2&yptr=yahoo