IBOV 172,513.42 ▼ 1.73% IPSA 11,256.28 ▼ 0.17% IPC MEX 66,938.64 ▲ 0.82% MERVAL 3,086,785 ▼ 0.45% COLCAP 2,350.44 — 0.00% BVL PERÚ 59,143.04 ▲ 0.74% USD/BRL5.08▲ 0.02% USD/MXN17.12▼ 0.10% USD/CLP 912.03 — 0.00% USD/COP3,153▼ 0.19% USD/PEN3.38▼ 0.07% USD/ARS1,499— 0.00% USD/UYU40.27▲ 1.32% USD/PYG5,920▲ 1.47% USD/BOB11.78▼ 1.17% USD/DOP58.11▲ 0.10% USD/CRC450.33▲ 1.74% USD/GTQ7.62▲ 2.26% USD/HNL26.78▲ 1.60% USD/NIO 36.62 — 0.00% USD/VES755.65▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.33▲ 0.26% USD/TTD6.73▲ 1.38% EUR/BRL5.87▼ 0.97% BRENT 83.55 ▲ 1.29% WTI 78.18 ▲ 1.15% IRON ORE 161.91 — — COPPER 6.59 ▼ 1.44% GOLD 4,400 ▲ 3.72% SILVER 63.50 ▲ 3.35% SOY 1,176 ▲ 1.64% CORN 461.50 ▲ 5.13% WHEAT 639.75 ▲ 1.35% COFFEE 313.65 ▼ 2.49% SUGAR 16.49 ▲ 5.91% ORANGE JUICE 147.00 ▼ 2.91% COTTON 84.07 ▲ 2.57% COCOA 5,847 ▲ 1.23% BEEF 225.28 ▼ 2.57% CATTLE 345.23 ▼ 0.81% LITHIUM 74.01 ▲ 2.21% PETR4 40.87 ▼ 2.99% VALE3 74.97 ▼ 0.56% ITUB4 40.75 ▼ 2.58% BBDC4 17.31 ▼ 2.20% ABEV3 15.48 ▼ 1.15% BBAS3 20.06 ▼ 1.08% B3SA3 14.95 ▼ 2.67% WEGE3 48.12 ▼ 0.58% PRIO3 57.45 ▼ 1.98% SUZB3 41.70 ▼ 0.64% RENT3 37.82 ▼ 0.89% AZZA3 17.01 ▲ 5.06% CSAN3 3.67 ▼ 3.17% RAIZ4 0.26 — 0.00% PCAR3 2.92 ▲ 0.69% GMAT3 3.73 ▼ 2.36% PSSA3 50.42 ▼ 4.24% CVCB3 1.52 ▲ 0.66% POSI3 3.53 ▲ 1.44% SLCE3 13.22 ▲ 0.08% NATU3 8.28 ▲ 1.22% BRKM5 5.94 ▼ 1.82% RANI3 8.26 ▼ 0.60% CSNA3 4.57 ▼ 3.59% CMIN3 5.45 ▼ 5.22% USIM5 7.15 ▼ 0.56% GGBR4 25.05 ▼ 2.34% ENEV3 26.18 ▼ 1.58% CPFE3 44.80 ▼ 2.29% CMIG4 10.92 ▼ 1.71% EQTL3 37.28 ▼ 2.99% LREN3 12.39 ▼ 8.09% VIVT3 30.58 ▼ 1.00% RAIL3 13.59 ▼ 0.88% KLABIN 18.01 ▼ 0.06% RAIA DROGASIL 20.22 ▲ 0.50% RDOR3 33.92 ▼ 0.41% HAPV3 10.77 ▼ 3.23% FLRY3 18.95 ▲ 9.73% SMTO3 14.77 ▲ 0.54% UGPA3 31.28 ▼ 4.49% VBBR3 34.23 ▼ 2.34% BBSE3 38.38 ▼ 6.30% BPAC11 53.91 ▼ 4.07% CURY3 31.36 ▼ 0.54% AERI3 2.29 — 0.00% VIVARA 21.63 ▼ 0.83% COMPASS 22.83 ▼ 2.10% VAMOS 3.08 ▼ 0.96% SANB11 29.27 — 0.00% ASAI3 8.24 ▼ 2.94% SBSP3 26.89 ▼ 1.83% WALMEX 49.60 ▲ 1.25% GMEXICO 225.45 ▲ 2.56% FEMSA 209.34 ▼ 0.19% CEMEX 19.48 ▼ 0.20% GFNORTE 199.41 ▲ 0.28% BIMBO 61.21 ▲ 0.67% TELEVISA 9.77 ▲ 0.10% AMX 20.41 ▼ 0.97% GAP 382.39 ▲ 0.06% ASUR 276.68 ▼ 0.34% OMA 236.74 ▼ 0.63% KOF 189.00 ▲ 0.55% GRUMA 254.51 ▲ 0.38% KIMBER 40.73 ▲ 1.29% SQM-B 65,789 ▼ 0.77% COPEC 6,115 ▼ 1.37% BSANTANDER 80.16 ▼ 1.11% FALABELLA 6,470 ▲ 1.09% ENELAM 87.40 ▼ 0.24% CENCOSUD 2,050 ▼ 0.49% CMPC 1,030 — 0.00% BANCO CHILE 188.65 ▼ 1.59% LATAM AIR 25.80 ▼ 2.09% YPF 7,775 ▼ 0.77% GGAL 7,315 ▼ 0.81% PAMPA 5,205 ▲ 0.39% TXAR 723.00 ▲ 6.40% ALUAR 934.50 ▼ 0.16% TGS 9,135 ▼ 0.76% CEPU 2,208 ▲ 1.42% MIRGOR 1,630 ▲ 0.31% COME 41.31 ▲ 0.32% LOMA NEGRA 3,283 ▼ 2.88% BYMA 290.00 ▲ 0.17% TELECOM ARG 4,380 ▲ 0.86% ECOPETROL 16.78 ▼ 3.56% BANCOLOMBIA 88.85 ▼ 1.55% GRUPO AVAL 5.06 ▼ 0.98% CREDICORP 386.93 ▼ 1.44% SOUTHERN COPPER 199.06 ▲ 3.12% BUENAVENTURA 34.15 ▲ 4.88% MERCADOLIBRE 1,821 ▼ 0.51% NUBANK 13.84 ▼ 1.98% XP 16.24 ▼ 2.64% PAGSEGURO 9.14 ▼ 2.35% STONE 10.60 ▼ 4.33% GLOBANT 37.37 ▲ 0.32% TECNOGLASS 44.14 ▼ 0.74% GAP AIRPORT 222.70 ▲ 0.27% ASUR 276.68 ▼ 0.34% OMA AIRPORT 110.44 ▼ 0.69% AMX ADR 23.75 ▼ 0.71% FEMSA ADR 122.46 ▲ 0.23% CEMEX ADR 11.33 ▲ 0.27% PETROBRAS ADR 17.96 ▼ 3.02% VALE ADR 14.71 ▼ 0.07% ITAU ADR 7.94 ▼ 2.93% SANTANDER BR 5.81 ▲ 0.26% AMBEV ADR 3.00 ▼ 0.33% CSN 0.93 ▼ 1.60% GERDAU 4.95 ▼ 1.79% LATAM ADR 56.72 ▼ 1.27% BTC 64,921 ▲ 0.02% ETH 1,919 ▲ 0.21% SOL 76.36 ▲ 0.51% XRP 1.04 ▼ 0.27% BNB 603.98 ▲ 0.59% ADA 0.20 ▼ 1.55% DOGE 0.07 ▼ 0.36% AVAX 6.47 ▼ 0.05% LINK 8.30 ▼ 0.03% DOT 0.81 ▼ 0.95% LTC 46.12 ▲ 0.30% BCH 216.40 ▲ 0.20% TRX 0.33 ▲ 0.16% XLM 0.16 ▼ 1.05% HBAR 0.07 ▼ 0.25% NEAR 1.61 ▲ 0.05% ATOM 1.38 ▼ 0.49% AAVE 91.04 ▼ 0.21% SELIC 14.00% EMBRAER 92.52 ▲ 0.95% EMBRAER ADR 73.01 ▲ 1.50% JBS 14.23 ▲ 3.94% JBS BDR 72.09 ▲ 3.13% MBRF3 16.07 ▼ 2.37% MBRFY 3.12 ▼ 3.70% INTER 5.27 ▼ 7.87% EGX 54,980 ▲ 0.59% USD/ZAR16.13▼ 0.08% USD/NGN1,362▼ 0.22% NIKKEI 65,607 ▼ 0.12% CSI300 4,694 ▲ 0.93% HSI 25,668 ▲ 0.54% NIFTY 24,571 ▼ 0.27% KOSPI 6,259 ▼ 0.60% JCI 6,410 ▲ 1.04% USD/JPY157.75▼ 0.44% USD/CNY6.74▼ 0.15% DAX 26,319 ▲ 0.69% CAC 8,715 ▲ 0.17% FTSE 10,901 ▲ 0.31% MIB 53,717 ▲ 0.06% IBEX 20,176 ▼ 0.02% STOXX 660.25 ▲ 0.31% EUR/USD1.16▲ 0.32% GBP/USD1.35▲ 0.28% SPX 7,758 ▲ 0.62% DJI 54,037 ▲ 0.28% NDX 29,722 ▲ 1.19% RUT 3,034 ▲ 1.10% TSX 36,381 ▲ 0.68% VIX 14.90 ▼ 1.65% USD/CAD1.39▼ 0.03% US10Y 4.6600 ▼ 0.21% IBOV 172,513.42 ▼ 1.73% IPSA 11,256.28 ▼ 0.17% IPC MEX 66,938.64 ▲ 0.82% MERVAL 3,086,785 ▼ 0.45% COLCAP 2,350.44 — 0.00% BVL PERÚ 59,143.04 ▲ 0.74% USD/BRL 5.08 ▲ 0.03% USD/MXN 17.12 ▼ 0.62% USD/CLP 912.03 — 0.00% USD/COP 3,153 ▼ 0.89% USD/PEN 3.38 ▲ 0.08% USD/ARS 1,499 ▼ 0.08% USD/UYU 40.27 ▲ 1.51% USD/PYG 5,920 ▲ 1.24% USD/BOB 11.78 ▼ 1.55% USD/DOP 58.11 ▲ 0.19% USD/CRC 450.33 ▲ 2.09% USD/GTQ 7.62 ▲ 2.32% USD/HNL 26.78 ▲ 0.65% USD/NIO 36.62 — 0.00% USD/VES 754.82 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.89 ▲ 0.62% USD/TTD 6.73 ▲ 1.38% EUR/BRL 5.87 ▼ 0.97% BRENT 83.55 ▲ 1.29% WTI 78.18 ▲ 1.15% IRON ORE 161.91 — — COPPER 6.59 ▼ 1.44% GOLD 4,400 ▲ 3.72% SILVER 63.50 ▲ 3.35% SOY 1,176 ▲ 1.64% CORN 461.50 ▲ 5.13% WHEAT 639.75 ▲ 1.35% COFFEE 313.65 ▼ 2.49% SUGAR 16.49 ▲ 5.91% ORANGE JUICE 147.00 ▼ 2.91% COTTON 84.07 ▲ 2.57% COCOA 5,847 ▲ 1.23% BEEF 225.28 ▼ 2.57% CATTLE 345.23 ▼ 0.81% LITHIUM 74.01 ▲ 2.21% PETR4 40.87 ▼ 2.99% VALE3 74.97 ▼ 0.56% ITUB4 40.75 ▼ 2.58% BBDC4 17.31 ▼ 2.20% ABEV3 15.48 ▼ 1.15% BBAS3 20.06 ▼ 1.08% B3SA3 14.95 ▼ 2.67% WEGE3 48.12 ▼ 0.58% PRIO3 57.45 ▼ 1.98% SUZB3 41.70 ▼ 0.64% RENT3 37.82 ▼ 0.89% AZZA3 17.01 ▲ 5.06% CSAN3 3.67 ▼ 3.17% RAIZ4 0.26 — 0.00% PCAR3 2.92 ▲ 0.69% GMAT3 3.73 ▼ 2.36% PSSA3 50.42 ▼ 4.24% CVCB3 1.52 ▲ 0.66% POSI3 3.53 ▲ 1.44% SLCE3 13.22 ▲ 0.08% NATU3 8.28 ▲ 1.22% BRKM5 5.94 ▼ 1.82% RANI3 8.26 ▼ 0.60% CSNA3 4.57 ▼ 3.59% CMIN3 5.45 ▼ 5.22% USIM5 7.15 ▼ 0.56% GGBR4 25.05 ▼ 2.34% ENEV3 26.18 ▼ 1.58% CPFE3 44.80 ▼ 2.29% CMIG4 10.92 ▼ 1.71% EQTL3 37.28 ▼ 2.99% LREN3 12.39 ▼ 8.09% VIVT3 30.58 ▼ 1.00% RAIL3 13.59 ▼ 0.88% KLABIN 18.01 ▼ 0.06% RAIA DROGASIL 20.22 ▲ 0.50% RDOR3 33.92 ▼ 0.41% HAPV3 10.77 ▼ 3.23% FLRY3 18.95 ▲ 9.73% SMTO3 14.77 ▲ 0.54% UGPA3 31.28 ▼ 4.49% VBBR3 34.23 ▼ 2.34% BBSE3 38.38 ▼ 6.30% BPAC11 53.91 ▼ 4.07% CURY3 31.36 ▼ 0.54% AERI3 2.29 — 0.00% VIVARA 21.63 ▼ 0.83% COMPASS 22.83 ▼ 2.10% VAMOS 3.08 ▼ 0.96% SANB11 29.27 — 0.00% ASAI3 8.24 ▼ 2.94% SBSP3 26.89 ▼ 1.83% WALMEX 49.60 ▲ 1.25% GMEXICO 225.45 ▲ 2.56% FEMSA 209.34 ▼ 0.19% CEMEX 19.48 ▼ 0.20% GFNORTE 199.41 ▲ 0.28% BIMBO 61.21 ▲ 0.67% TELEVISA 9.77 ▲ 0.10% AMX 20.41 ▼ 0.97% GAP 382.39 ▲ 0.06% ASUR 276.68 ▼ 0.34% OMA 236.74 ▼ 0.63% KOF 189.00 ▲ 0.55% GRUMA 254.51 ▲ 0.38% KIMBER 40.73 ▲ 1.29% SQM-B 65,789 ▼ 0.77% COPEC 6,115 ▼ 1.37% BSANTANDER 80.16 ▼ 1.11% FALABELLA 6,470 ▲ 1.09% ENELAM 87.40 ▼ 0.24% CENCOSUD 2,050 ▼ 0.49% CMPC 1,030 — 0.00% BANCO CHILE 188.65 ▼ 1.59% LATAM AIR 25.80 ▼ 2.09% YPF 7,775 ▼ 0.77% GGAL 7,315 ▼ 0.81% PAMPA 5,205 ▲ 0.39% TXAR 723.00 ▲ 6.40% ALUAR 934.50 ▼ 0.16% TGS 9,135 ▼ 0.76% CEPU 2,208 ▲ 1.42% MIRGOR 1,630 ▲ 0.31% COME 41.31 ▲ 0.32% LOMA NEGRA 3,283 ▼ 2.88% BYMA 290.00 ▲ 0.17% TELECOM ARG 4,380 ▲ 0.86% ECOPETROL 16.78 ▼ 3.56% BANCOLOMBIA 88.85 ▼ 1.55% GRUPO AVAL 5.06 ▼ 0.98% CREDICORP 386.93 ▼ 1.44% SOUTHERN COPPER 199.06 ▲ 3.12% BUENAVENTURA 34.15 ▲ 4.88% MERCADOLIBRE 1,821 ▼ 0.51% NUBANK 13.84 ▼ 1.98% XP 16.24 ▼ 2.64% PAGSEGURO 9.14 ▼ 2.35% STONE 10.60 ▼ 4.33% GLOBANT 37.37 ▲ 0.32% TECNOGLASS 44.14 ▼ 0.74% GAP AIRPORT 222.70 ▲ 0.27% ASUR 276.68 ▼ 0.34% OMA AIRPORT 110.44 ▼ 0.69% AMX ADR 23.75 ▼ 0.71% FEMSA ADR 122.46 ▲ 0.23% CEMEX ADR 11.33 ▲ 0.27% PETROBRAS ADR 17.96 ▼ 3.02% VALE ADR 14.71 ▼ 0.07% ITAU ADR 7.94 ▼ 2.93% SANTANDER BR 5.81 ▲ 0.26% AMBEV ADR 3.00 ▼ 0.33% CSN 0.93 ▼ 1.60% GERDAU 4.95 ▼ 1.79% LATAM ADR 56.72 ▼ 1.27% BTC 64,921 ▲ 0.02% ETH 1,919 ▲ 0.21% SOL 76.36 ▲ 0.51% XRP 1.04 ▼ 0.27% BNB 603.98 ▲ 0.59% ADA 0.20 ▼ 1.55% DOGE 0.07 ▼ 0.36% AVAX 6.47 ▼ 0.05% LINK 8.30 ▼ 0.03% DOT 0.81 ▼ 0.95% LTC 46.12 ▲ 0.30% BCH 216.40 ▲ 0.20% TRX 0.33 ▲ 0.16% XLM 0.16 ▼ 1.05% HBAR 0.07 ▼ 0.25% NEAR 1.61 ▲ 0.05% ATOM 1.38 ▼ 0.49% AAVE 91.04 ▼ 0.21% SELIC 14.00% EMBRAER 92.52 ▲ 0.95% EMBRAER ADR 73.01 ▲ 1.50% JBS 14.23 ▲ 3.94% JBS BDR 72.09 ▲ 3.13% MBRF3 16.07 ▼ 2.37% MBRFY 3.12 ▼ 3.70% INTER 5.27 ▼ 7.87% EGX 54,980 ▲ 0.59% USD/ZAR 16.13 ▼ 1.25% USD/NGN 1,362 ▲ 0.08% NIKKEI 65,607 ▼ 0.12% CSI300 4,694 ▲ 0.93% HSI 25,668 ▲ 0.54% NIFTY 24,571 ▼ 0.27% KOSPI 6,259 ▼ 0.60% JCI 6,410 ▲ 1.04% USD/JPY 157.75 ▼ 0.44% USD/CNY 6.7482 ▲ 0.08% DAX 26,319 ▲ 0.69% CAC 8,715 ▲ 0.17% FTSE 10,901 ▲ 0.31% MIB 53,717 ▲ 0.06% IBEX 20,176 ▼ 0.02% STOXX 660.25 ▲ 0.31% EUR/USD 1.1562 ▲ 0.32% GBP/USD 1.3492 ▲ 0.33% SPX 7,758 ▲ 0.62% DJI 54,037 ▲ 0.28% NDX 29,722 ▲ 1.19% RUT 3,034 ▲ 1.10% TSX 36,381 ▲ 0.68% VIX 14.90 ▼ 1.65% USD/CAD 1.3938 ▼ 0.54% US10Y 4.6600 ▼ 0.21%
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Opinion: Lame Ducks in Brazil, a Smidgen

By · May 16, 2015 · 2 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – In the United States, where Presidents cannot legislate, people have grown accustomed to the spectacle of Congressional leaders seeking to enact their own personal agendas; particularly is this the case for “lame duck” Presidents who cannot stand for re-election. In Brazil, where re-election is a relatively new phenomenon, this has not been the case. Until now, that is.

Michael Royster, aka The Curmudgeon.
Michael Royster, aka The Curmudgeon.
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Congressional leaders and factions have now perceived that Dilma has definitely gone lame. She dithers over appointments; she quivers over appearances; she proclaims the economy is recovering, she propounds impossible public works; she pretends her former mentor Lula is still on her side.

That’s lame. Dilma walks lame, quacks lame, and water runs lamely off her back.

Down on the farm in Brasília, happy as pigs wallowing in mud, Congressional leaders have taken over the reins of government. Not for nothing are the sharper ones known as foxes (“raposas”) — they never miss a chance to watch over the duck pond as well as the hen house.

The Presidents of both houses of Congress belong to PMDB, the political party once Dilma’s strongest political ally. Recently, they have outdone themselves promoting their own pet projects, in detriment to those Dilma’s Finance Minister Levy would like. The Vice President, also from PMDB, has been unable to stop the rot.

What has happened in Brasília is that PMDB has taken over power from PT, which is now treated (by PMDB) as an opposition party. This is analogous to what happened in the U.S. when the Republicans took over both houses of Congress. President Dilma, as lame as President Obama, must deal with a Congress that will oppose almost every presidential initiative, simply because she proposed it.

There is, however, one significant difference — both Brazilian Congressional leaders are under investigation by the Public Prosecutor for alleged corrupt practices; the U.S. leaders are not.

The Curmudgeon will emit more Smidgens opportunely, without animal-based mixed metaphors.

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