Brazilian Markets Slide as Investors Fear Further Dilution of Pension Reform

Unexpectedly bad March jobs data and tax revenue figures also added to concerns about Brazil’s sputtering economy, weighing on investor sentiment.

By Reuters

RIO DE JANEIRO, BRAZIL - Brazilian markets slumped on Wednesday, a day after a planned pension overhaul cleared a congressional hurdle following a lengthy debate that highlighted the government’s struggle to build support for its signature reform policy.

The real had one of its worst days of the year, falling through 3.99 per dollar for the first time in almost a month, bringing the psychological barrier of 4.00 within touching distance.

The Bovespa stock market fell 0.9 percent to 95,045.43 points, while market interest rates and bond yields jumped. The yield on Brazilian . . .

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