Ibovespa Futuro rises with Trump recovery and mini-stimulus package; dollar falls

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SÃO PAULO – Ibovespa Futuro opens higher on Wednesday (7) with recovery after the fall that occurred in the previous trading session. The relief follows US President Donald Trump’s announcements of rescue measures for airlines and support for the economy totaling $ 25 billion.

The day before, Trump’s decision to halt negotiations between Democrats and Republicans for a trillion-dollar stimulus package against the economic impacts of the coronavirus ended up driving stock markets around the world to fall, including the Brazilian one. The American president said that the stimulus will only be approved if he is reelected in November. Later, however, Trump asked Congress to extend some measures to support the activity.

Around here, the market today follows the news that the government wants to incorporate measures from the so-called “war budget” in the text of the Constitutional Amendment Proposal (PEC) of the Federative Pact. The objective, according to the Estadão, it is to regulate fiscal rules in case of calamity, which would increase the space for spending in 2021, in the case of a new wave of covid-19, for example.

At 09h13 (Brasília time), the future index for October was up 0.84%, at 96,200 points.

The US dollar maturing in November registered losses of 0.69%, to R $ 5.559.

In the future interest market, the DI for January 2022 rises six basis points at 3.42%, the DI for January 2023 advances eight base points at 4.90%, the DI for January 2025 has an increase of eight basis points at 6.76% and the DI for January 2027 recorded a positive variation of seven basis points at 7.63%.

Attention is drawn to the information that President Jair Bolsonaro intends to define the unpopular measures to finance the Citizen’s Income after the municipal elections.

At the same time, Senator Marcio Bittar (MDB-AC) signaled that the proposal for the Citizen Income should be ready next week. Faced with this scenario, political leaders ask the government to define a minimum agenda of proposals for the economy to vote by the end of the year.

Public Accounts

The market today follows the news that the government wants to incorporate measures of the so-called “war budget” in the text of the Constitutional Amendment Proposal (PEC) of the Federative Pact. The objective, according to the Estadão, it is to regulate fiscal rules in case of calamity, which would increase the space for spending in 2021, in the case of a new wave of covid-19, for example.

According to the newspaper, the text should define what are the scenarios in which the government could increase spending. The government’s fear is that fiscal rules will be an obstacle to actions to fight the disease next year.

In addition, attention is drawn to the information that President Jair Bolsonaro intends to define the unpopular measures to finance the Citizen Income for after the municipal elections.

According to Estadão, the strategy was designed to prevent harsh measures from disrupting the campaign of political allies. However, government allies believe that it will not be possible to wait that long to point the way to the market, since the worsening of fiscal risks has generated great nervousness.

This year, the flight of foreign investors from Brazil from risky investments in 2020 should more than double in relation to that recorded in 2019, according to Folha de S.Paulo. The balance between applications and withdrawals from non-residents will be negative by US $ 24 billion between January and December. In 2019, outflows totaled US $ 11.1 billion.

At the same time, Senator Marcio Bittar (MDB-AC) signaled yesterday that the proposal for Citizen Income should be ready next week. He is the rapporteur for PEC Emergencial, which must incorporate the Citizen Income. “Next week, God willing, it is ready,” he said.

Faced with this scenario, political leaders ask the government to define a minimum agenda of proposals for the economy to vote by the end of the year. “The coming crisis seems to be a tough one. The legislative process is slow. You have to see what’s on the agenda, ”Senator Renan Calheiros (MDB-AL) told Estadão / Broadcast.

BNDES

The BNDES released large companies’ access to the emergency credit line guaranteed by the Treasury, which until yesterday was only allowed to companies with annual sales of up to R $ 300 million, according to Folha de S.Paulo. The goal is to release up to R $ 20 billion as collateral, which would allow the granting of up to R $ 100 billion in loans.

Large companies will have the right to access 10% of the resources contributed by Tesouro in the program, or R $ 2 billion. The bank expects to make it possible to grant up to R $ 10 billion in financing, as each R $ 1 put by the government can leverage another R $ 5.

Another highlight is the information that the Federal Regional Court of the 1st Region ordered the closure of investigations against the Minister of Economy, Paulo Guedes, conducted by the task force of Operation Greenfield, of the MPF (Federal Public Ministry) in Brasília.

According to leaf, two investigations were opened against Guedes on suspicion of involvement in fraud in the contributions made by pension funds linked to state-owned companies in two investment funds created by BR Educacional Gestora de Ativos, a company linked to the minister.

In addition, the market follows the revelation that the academic curriculum presented by Judge Kassio Nunes Marques, appointed by President Jair Bolsonaro to the Federal Supreme Court (STF), brings a postgraduate course that is not confirmed by the Universidad de La Coruña, in Spain.

Corporate Radar

In the corporate sphere, the market today follows the debut of Sequoia Logística’s shares on the stock exchange. In addition, the sale of Laureate’s Brazilian assets remains on investors’ radar. Hope Education, a Hong Kong group that acquired the Laureate unit in Malaysia about 10 days ago, also intended to make an offer for the Brazilian operation. However, it gave up this week, according to Valor Econômico.

Azul reported that its liquidity position was R $ 2.3 billion at the end of September. In addition, the original forecast was a cash consumption of approximately R $ 3 million per day for the second half of the year, but showed a cash increase of approximately R $ 700 thousand per day over the third quarter.

In addition, MRV announced that it will distribute dividends, while Sanepar managed to reduce 60% of an environmental fine. Braskem said that the utilization rate of its units in the United States returned to normal, while sales of resins reached a record in Brazil.

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