J. P Morgan lowers the recommendation on the Brazilian interest rate and the Brazilian real from overweight (equivalent to a buy rating) to market weight following the victory of President Luiz Inacio Lula de Silves (PT). The bank believes that significant changes in economic policy are unlikely and expects that a circuit breaker may be activated in the stock market today. Trading is halted for 30 minutes when the ibovespa drops by 10%. If the drop reaches 15%, trading will be suspended for one hour. If the drop reaches 20%, B3 may suspend trading for the rest of the day.

J. P Morgan lowers the recommendation on the Brazilian interest rate and the Brazilian real from overweight (equivalent to a buy rating) to market weight following the victory of President Luiz Inacio Lula de Silves (PT). The bank believes that significant changes in economic policy are unlikely and expects that a circuit breaker may be activated in the stock market today. Trading is halted for 30 minutes when the ibovespa drops by 10%. If the drop reaches 15%, trading will be suspended for one hour. If the drop reaches 20%, B3 may suspend trading for the rest of the day.