IBOV 177,726.17 ▼ 0.09% IPSA 11,157.69 ▲ 1.47% IPC MEX 66,848.35 ▲ 0.22% MERVAL 3,156,332 ▼ 1.02% COLCAP 2,344.80 ▼ 1.26% BVL PERÚ 58,781.02 ▲ 0.81% USD/BRL5.12▼ 0.13% USD/MXN17.23▼ 0.18% USD/CLP913.25▲ 0.25% USD/COP3,176▼ 2.03% USD/PEN3.38▼ 0.32% USD/ARS1,496▼ 0.03% USD/UYU40.26▲ 1.28% USD/PYG5,932▲ 1.24% USD/BOB12.02▲ 0.04% USD/DOP58.09▲ 1.23% USD/CRC448.18▲ 1.25% USD/GTQ7.63▲ 2.14% USD/HNL26.78▲ 1.43% USD/NIO36.62▲ 0.59% USD/VES753.27▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.89▲ 0.55% USD/TTD6.66▼ 0.03% EUR/BRL5.92▲ 0.84% BRENT 79.36 — 0.00% WTI 75.00 ▼ 1.02% IRON ORE 161.91 — — COPPER 6.75 ▲ 2.03% GOLD 4,338 ▲ 5.92% SILVER 62.53 ▲ 4.12% SOY 1,177 ▲ 1.88% CORN 460.75 ▲ 4.18% WHEAT 644.00 ▲ 0.86% COFFEE 310.55 ▼ 4.18% SUGAR 15.17 ▲ 0.86% ORANGE JUICE 156.25 ▼ 2.16% COTTON 83.22 ▲ 2.58% COCOA 5,848 ▼ 1.28% BEEF 229.43 ▼ 1.09% CATTLE 348.78 ▼ 0.69% LITHIUM 72.65 ▲ 1.34% PETR4 41.93 ▼ 1.34% VALE3 76.66 ▲ 0.46% ITUB4 42.38 ▲ 0.67% BBDC4 18.05 ▼ 0.76% ABEV3 15.84 ▼ 0.19% BBAS3 21.05 ▲ 0.29% B3SA3 15.55 ▼ 0.96% WEGE3 48.80 ▼ 0.75% PRIO3 59.20 ▲ 1.28% SUZB3 42.84 ▼ 0.42% RENT3 39.20 ▲ 0.28% AZZA3 15.96 ▼ 0.50% CSAN3 3.91 ▼ 3.46% RAIZ4 0.26 ▼ 7.14% PCAR3 2.94 ▲ 6.91% GMAT3 3.89 ▼ 1.52% PSSA3 53.48 ▼ 1.42% CVCB3 1.55 ▲ 12.32% POSI3 3.46 ▼ 1.14% SLCE3 13.51 ▼ 0.44% NATU3 8.30 ▼ 1.43% BRKM5 5.87 ▲ 0.69% RANI3 8.39 ▲ 0.60% CSNA3 4.89 ▲ 2.09% CMIN3 5.90 ▼ 0.17% USIM5 7.46 ▼ 0.80% GGBR4 26.31 ▲ 1.70% ENEV3 26.98 ▼ 0.66% CPFE3 46.09 ▼ 0.56% CMIG4 11.25 ▼ 0.27% EQTL3 39.18 ▼ 0.08% LREN3 13.67 — 0.00% VIVT3 31.21 ▼ 1.39% RAIL3 13.99 ▼ 0.92% KLABIN 18.64 ▲ 2.14% RAIA DROGASIL 20.55 ▲ 5.87% RDOR3 34.45 ▲ 0.15% HAPV3 11.11 ▼ 5.69% FLRY3 17.36 ▼ 0.74% SMTO3 14.30 ▲ 2.58% UGPA3 32.41 ▼ 0.58% VBBR3 35.09 ▼ 0.99% BBSE3 41.67 ▼ 0.95% BPAC11 56.81 ▲ 0.11% CURY3 32.03 ▲ 0.88% AERI3 2.30 ▲ 5.02% VIVARA 22.29 ▼ 1.37% COMPASS 24.22 ▼ 1.54% VAMOS 3.32 ▼ 0.30% SANB11 29.48 ▲ 1.31% ASAI3 8.83 ▲ 1.96% SBSP3 27.71 ▼ 1.07% WALMEX 48.65 ▼ 2.49% GMEXICO 222.65 ▲ 1.95% FEMSA 214.59 ▼ 1.29% CEMEX 19.90 ▼ 0.90% GFNORTE 199.03 ▲ 0.66% BIMBO 61.37 ▲ 0.77% TELEVISA 9.49 ▼ 1.35% AMX 20.74 ▼ 3.45% GAP 374.00 ▼ 1.85% ASUR 272.93 ▼ 1.22% OMA 235.58 ▼ 1.36% KOF 187.22 ▼ 0.35% GRUMA 256.62 ▼ 2.44% KIMBER 40.27 ▼ 0.10% SQM-B 63,950 ▲ 2.40% COPEC 6,288 ▲ 0.95% BSANTANDER 80.20 ▲ 1.01% FALABELLA 6,346 ▲ 1.37% ENELAM 87.05 ▼ 0.74% CENCOSUD 2,020 ▲ 1.66% CMPC 1,030 ▼ 0.95% BANCO CHILE 190.22 ▲ 0.63% LATAM AIR 26.38 ▲ 3.65% YPF 7,675 ▼ 2.10% GGAL 7,640 ▼ 1.29% PAMPA 5,310 ▼ 0.93% TXAR 681.00 ▲ 5.66% ALUAR 940.00 ▲ 0.75% TGS 9,270 ▼ 1.70% CEPU 2,259 ▼ 1.70% MIRGOR 1,640 — 0.00% COME 41.45 ▼ 1.07% LOMA NEGRA 3,490 ▲ 0.36% BYMA 288.50 ▼ 1.03% TELECOM ARG 4,345 ▲ 0.23% ECOPETROL 16.39 ▲ 0.49% BANCOLOMBIA 90.11 ▲ 0.11% GRUPO AVAL 5.30 ▲ 1.73% CREDICORP 394.88 ▲ 0.70% SOUTHERN COPPER 197.00 ▲ 0.94% BUENAVENTURA 33.00 ▲ 2.29% MERCADOLIBRE 1,923 ▲ 1.80% NUBANK 14.48 ▲ 1.05% XP 16.98 ▲ 0.06% PAGSEGURO 9.40 ▼ 1.05% STONE 11.17 ▼ 0.53% GLOBANT 38.38 ▲ 0.66% TECNOGLASS 47.75 ▲ 3.22% GAP AIRPORT 217.52 ▼ 1.44% ASUR 272.93 ▼ 1.22% OMA AIRPORT 109.61 ▼ 1.25% AMX ADR 24.02 ▼ 3.46% FEMSA ADR 124.37 ▼ 1.51% CEMEX ADR 11.55 ▼ 0.52% PETROBRAS ADR 18.36 ▼ 1.92% VALE ADR 14.94 ▲ 0.74% ITAU ADR 8.21 ▲ 0.24% SANTANDER BR 5.79 ▲ 1.94% AMBEV ADR 3.03 ▼ 0.33% CSN 0.98 ▲ 4.98% GERDAU 5.14 ▲ 0.78% LATAM ADR 57.70 ▲ 3.67% BTC 64,614 ▲ 0.87% ETH 1,909 ▲ 2.15% SOL 74.00 ▲ 0.38% XRP 1.06 ▼ 1.17% BNB 593.40 ▲ 0.10% ADA 0.19 ▼ 0.72% DOGE 0.07 ▼ 0.08% AVAX 6.65 ▼ 0.42% LINK 8.15 ▲ 0.11% DOT 0.84 ▼ 1.70% LTC 45.30 ▲ 1.05% BCH 214.32 ▲ 0.52% TRX 0.33 ▲ 0.03% XLM 0.16 ▼ 2.48% HBAR 0.07 ▼ 0.44% NEAR 1.70 ▼ 1.90% ATOM 1.35 ▼ 1.47% AAVE 89.73 ▼ 0.75% SELIC 14.00% EMBRAER 93.01 ▲ 2.76% EMBRAER ADR 72.78 ▲ 3.20% JBS 13.70 ▲ 0.66% JBS BDR 70.54 ▲ 0.67% MBRF3 16.77 ▼ 0.95% MBRFY 3.12 ▼ 4.59% INTER 5.71 ▲ 0.18% EGX 54,660 ▲ 0.29% USD/ZAR16.31▼ 0.43% USD/NGN 1,360 — 0.00% NIKKEI 66,300 ▲ 3.66% CSI300 4,658 ▲ 1.24% HSI 25,916 ▲ 0.24% NIFTY 24,625 ▲ 0.04% KOSPI 6,598 ▲ 3.76% JCI 6,351 ▲ 0.50% USD/JPY157.55▼ 0.12% USD/CNY 6.7402 — 0.00% DAX 26,126 ▼ 0.29% CAC 8,669 ▲ 0.03% FTSE 10,888 ▲ 0.08% MIB 53,447 ▼ 0.18% IBEX 20,057 ▲ 0.17% STOXX 657.14 ▲ 0.04% EUR/USD1.16▲ 0.26% GBP/USD1.35▲ 0.33% SPX 7,724 ▼ 0.17% DJI 54,349 ▲ 0.49% NDX 29,488 ▼ 0.83% RUT 3,019 ▼ 0.59% TSX 36,146 ▲ 0.96% VIX 15.81 ▼ 4.18% USD/CAD1.40▼ 0.40% US10Y 4.6170 ▼ 0.22% IBOV 177,726.17 ▼ 0.09% IPSA 11,157.69 ▲ 1.47% IPC MEX 66,848.35 ▲ 0.22% MERVAL 3,156,332 ▼ 1.02% COLCAP 2,344.80 ▼ 1.26% BVL PERÚ 58,781.02 ▲ 0.81% USD/BRL 5.12 ▼ 0.13% USD/MXN 17.23 ▼ 0.17% USD/CLP 913.25 ▲ 0.25% USD/COP 3,176 ▼ 2.03% USD/PEN 3.38 ▼ 0.33% USD/ARS 1,496 ▼ 0.03% USD/UYU 40.26 ▲ 1.28% USD/PYG 5,932 ▲ 1.24% USD/BOB 12.02 ▲ 0.04% USD/DOP 58.09 ▲ 1.23% USD/CRC 448.18 ▲ 1.25% USD/GTQ 7.63 ▲ 2.14% USD/HNL 26.78 ▲ 1.43% USD/NIO 36.62 ▲ 0.59% USD/VES 753.27 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.89 ▲ 0.89% USD/TTD 6.66 ▼ 0.03% EUR/BRL 5.92 ▲ 0.84% BRENT 79.36 — 0.00% WTI 75.00 ▼ 1.02% IRON ORE 161.91 — — COPPER 6.75 ▲ 2.03% GOLD 4,338 ▲ 5.92% SILVER 62.53 ▲ 4.12% SOY 1,177 ▲ 1.88% CORN 460.75 ▲ 4.18% WHEAT 644.00 ▲ 0.86% COFFEE 310.55 ▼ 4.18% SUGAR 15.17 ▲ 0.86% ORANGE JUICE 156.25 ▼ 2.16% COTTON 83.22 ▲ 2.58% COCOA 5,848 ▼ 1.28% BEEF 229.43 ▼ 1.09% CATTLE 348.78 ▼ 0.69% LITHIUM 72.65 ▲ 1.34% PETR4 41.93 ▼ 1.34% VALE3 76.66 ▲ 0.46% ITUB4 42.38 ▲ 0.67% BBDC4 18.05 ▼ 0.76% ABEV3 15.84 ▼ 0.19% BBAS3 21.05 ▲ 0.29% B3SA3 15.55 ▼ 0.96% WEGE3 48.80 ▼ 0.75% PRIO3 59.20 ▲ 1.28% SUZB3 42.84 ▼ 0.42% RENT3 39.20 ▲ 0.28% AZZA3 15.96 ▼ 0.50% CSAN3 3.91 ▼ 3.46% RAIZ4 0.26 ▼ 7.14% PCAR3 2.94 ▲ 6.91% GMAT3 3.89 ▼ 1.52% PSSA3 53.48 ▼ 1.42% CVCB3 1.55 ▲ 12.32% POSI3 3.46 ▼ 1.14% SLCE3 13.51 ▼ 0.44% NATU3 8.30 ▼ 1.43% BRKM5 5.87 ▲ 0.69% RANI3 8.39 ▲ 0.60% CSNA3 4.89 ▲ 2.09% CMIN3 5.90 ▼ 0.17% USIM5 7.46 ▼ 0.80% GGBR4 26.31 ▲ 1.70% ENEV3 26.98 ▼ 0.66% CPFE3 46.09 ▼ 0.56% CMIG4 11.25 ▼ 0.27% EQTL3 39.18 ▼ 0.08% LREN3 13.67 — 0.00% VIVT3 31.21 ▼ 1.39% RAIL3 13.99 ▼ 0.92% KLABIN 18.64 ▲ 2.14% RAIA DROGASIL 20.55 ▲ 5.87% RDOR3 34.45 ▲ 0.15% HAPV3 11.11 ▼ 5.69% FLRY3 17.36 ▼ 0.74% SMTO3 14.30 ▲ 2.58% UGPA3 32.41 ▼ 0.58% VBBR3 35.09 ▼ 0.99% BBSE3 41.67 ▼ 0.95% BPAC11 56.81 ▲ 0.11% CURY3 32.03 ▲ 0.88% AERI3 2.30 ▲ 5.02% VIVARA 22.29 ▼ 1.37% COMPASS 24.22 ▼ 1.54% VAMOS 3.32 ▼ 0.30% SANB11 29.48 ▲ 1.31% ASAI3 8.83 ▲ 1.96% SBSP3 27.71 ▼ 1.07% WALMEX 48.65 ▼ 2.49% GMEXICO 222.65 ▲ 1.95% FEMSA 214.59 ▼ 1.29% CEMEX 19.90 ▼ 0.90% GFNORTE 199.03 ▲ 0.66% BIMBO 61.37 ▲ 0.77% TELEVISA 9.49 ▼ 1.35% AMX 20.74 ▼ 3.45% GAP 374.00 ▼ 1.85% ASUR 272.93 ▼ 1.22% OMA 235.58 ▼ 1.36% KOF 187.22 ▼ 0.35% GRUMA 256.62 ▼ 2.44% KIMBER 40.27 ▼ 0.10% SQM-B 63,950 ▲ 2.40% COPEC 6,288 ▲ 0.95% BSANTANDER 80.20 ▲ 1.01% FALABELLA 6,346 ▲ 1.37% ENELAM 87.05 ▼ 0.74% CENCOSUD 2,020 ▲ 1.66% CMPC 1,030 ▼ 0.95% BANCO CHILE 190.22 ▲ 0.63% LATAM AIR 26.38 ▲ 3.65% YPF 7,675 ▼ 2.10% GGAL 7,640 ▼ 1.29% PAMPA 5,310 ▼ 0.93% TXAR 681.00 ▲ 5.66% ALUAR 940.00 ▲ 0.75% TGS 9,270 ▼ 1.70% CEPU 2,259 ▼ 1.70% MIRGOR 1,640 — 0.00% COME 41.45 ▼ 1.07% LOMA NEGRA 3,490 ▲ 0.36% BYMA 288.50 ▼ 1.03% TELECOM ARG 4,345 ▲ 0.23% ECOPETROL 16.39 ▲ 0.49% BANCOLOMBIA 90.11 ▲ 0.11% GRUPO AVAL 5.30 ▲ 1.73% CREDICORP 394.88 ▲ 0.70% SOUTHERN COPPER 197.00 ▲ 0.94% BUENAVENTURA 33.00 ▲ 2.29% MERCADOLIBRE 1,923 ▲ 1.80% NUBANK 14.48 ▲ 1.05% XP 16.98 ▲ 0.06% PAGSEGURO 9.40 ▼ 1.05% STONE 11.17 ▼ 0.53% GLOBANT 38.38 ▲ 0.66% TECNOGLASS 47.75 ▲ 3.22% GAP AIRPORT 217.52 ▼ 1.44% ASUR 272.93 ▼ 1.22% OMA AIRPORT 109.61 ▼ 1.25% AMX ADR 24.02 ▼ 3.46% FEMSA ADR 124.37 ▼ 1.51% CEMEX ADR 11.55 ▼ 0.52% PETROBRAS ADR 18.36 ▼ 1.92% VALE ADR 14.94 ▲ 0.74% ITAU ADR 8.21 ▲ 0.24% SANTANDER BR 5.79 ▲ 1.94% AMBEV ADR 3.03 ▼ 0.33% CSN 0.98 ▲ 4.98% GERDAU 5.14 ▲ 0.78% LATAM ADR 57.70 ▲ 3.67% BTC 64,614 ▲ 0.87% ETH 1,909 ▲ 2.15% SOL 74.00 ▲ 0.38% XRP 1.06 ▼ 1.17% BNB 593.40 ▲ 0.10% ADA 0.19 ▼ 0.72% DOGE 0.07 ▼ 0.08% AVAX 6.65 ▼ 0.42% LINK 8.15 ▲ 0.11% DOT 0.84 ▼ 1.70% LTC 45.30 ▲ 1.05% BCH 214.32 ▲ 0.52% TRX 0.33 ▲ 0.03% XLM 0.16 ▼ 2.48% HBAR 0.07 ▼ 0.44% NEAR 1.70 ▼ 1.90% ATOM 1.35 ▼ 1.47% AAVE 89.73 ▼ 0.75% SELIC 14.00% EMBRAER 93.01 ▲ 2.76% EMBRAER ADR 72.78 ▲ 3.20% JBS 13.70 ▲ 0.66% JBS BDR 70.54 ▲ 0.67% MBRF3 16.77 ▼ 0.95% MBRFY 3.12 ▼ 4.59% INTER 5.71 ▲ 0.18% EGX 54,660 ▲ 0.29% USD/ZAR 16.31 ▼ 0.10% USD/NGN 1,360 — 0.00% NIKKEI 66,300 ▲ 3.66% CSI300 4,658 ▲ 1.24% HSI 25,916 ▲ 0.24% NIFTY 24,625 ▲ 0.04% KOSPI 6,598 ▲ 3.76% JCI 6,351 ▲ 0.50% USD/JPY 157.61 ▼ 0.05% USD/CNY 6.7402 — 0.00% DAX 26,126 ▼ 0.29% CAC 8,669 ▲ 0.03% FTSE 10,888 ▲ 0.08% MIB 53,447 ▼ 0.18% IBEX 20,057 ▲ 0.17% STOXX 657.14 ▲ 0.04% EUR/USD 1.1559 ▲ 0.03% GBP/USD 1.3469 ▲ 0.01% SPX 7,724 ▼ 0.17% DJI 54,349 ▲ 0.49% NDX 29,488 ▼ 0.83% RUT 3,019 ▼ 0.59% TSX 36,146 ▲ 0.96% VIX 15.81 ▼ 4.18% USD/CAD 1.4010 ▼ 0.01% US10Y 4.6170 ▼ 0.22%
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Brazil Guest Opinions

Opinion: Is President Bolsonaro Running for Re-Election?

By · August 20, 2019 · 3 min read

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Ribeirão Preto, SP – One plank of Jair Bolsonaro’s campaign platform in 2018 stated that he would not be a candidate for re-election if he won his first term. There is reason to believe he is no longer certain he should relinquish power down the road.

A few months ago, when visiting his former hometown in the interior of São Paulo, he let slip a reference to a possible second term, but quickly ran it back, and it’s been largely forgotten.

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So, why should anyone think Bolsonaro is now positioning himself for a second term? The answer is simple – he is emulating Donald Trump, who is busily campaigning for re-election.

Trump has picked out his favorite whipping boys – issues or positions he intends to attack: (a) immigration; (b) “socialism”; (c) news media; and (d) China. Within the U.S., he attacks the liberal coastal states, where he lost badly in 2016.

Bolsonaro has been doing much of the same, although his favorite targets are slightly different: (a) indigenous reservations; (b) “cultural Marxism”; (c) news media; and (d) Europe. Within Brazil, he attacks the liberal northeastern states, where he lost badly in 2018.

Perhaps more to the point, Bolsonaro is clearly echoing Trump’s “I’m the boss, and I can do whatever I like” tone of voice. This version of machismo involves showing contempt for the legislative and judicial branches, and occasionally even for political allies.

The other Trumpian echo is Bolsonaro’s blatant distrust of any outsiders and his supine reliance upon his immediate family for any important policy decisions.

As a result, Bolsonaro has not been able to accomplish much of anything that requires actual legislation. The pension reform bill is progressing far more slowly in Congress than it ought to. Tax reform is on a back burner, as is the anti-corruption package that Justice Minister Sérgio Moro proposed early on.

So, what has Bolsonaro managed to accomplish?

Against the advice of anyone who cares about traffic safety, he has just carried out a campaign promise to abolish the use of mobile radar speed guns on federal highways.

Against the advice of anyone who cares about the rights of indigenous peoples, he keeps trying to put the regulatory agency (FUNAI) under the Ministry of Agriculture, not to mention firing two-thirds of its senior personnel.

Against the advice of anyone who cares about the fate of the Amazon forest, he advocates clearing ever more land by private parties (farms over forests) and by the government itself (roads over rivers).

Against the advice of anyone who cares about diplomacy, he snubs the French chancellor, badmouths Germany’s chancellor, and generally disregards the Norwegians. To top it off, he wants to nominate his son Eduardo as Ambassador to the U.S.

Bolsonaro’s electoral base, it hardly needs to be said, is mostly people who don’t care about (a) traffic safety; (b) indigenous people; (c) the Amazon forest; or (d) diplomacy. They love his “macho man” poses – fake rodeo riding, fake rifle firing – and his tough talk.

Talking the talk is easy; walking the walk can be rough when you need cooperation from the legislature and the judiciary.

But of course, if you’re running for re-election, you’re stimulating your base and encouraging them to keep the faith, notwithstanding nattering negative naysayers. That is precisely what Trump is doing, and it’s working for him.

Bolsonaro thinks it might just work for him too.

 

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