In June, the Ibovespa index closed with a 1.48% gain despite a 0.32% dip on the last day, marking the second positive month of the year. The week, quarter, and first half of the year ended with mixed results, with a 2.11% weekly rise but a 3.28% decline in the second quarter and a 7.66% drop in the first half. The Personal Consumption Expenditures report in the U.S. met expectations but didn’t prompt rate cuts.
In Brazil, President Lula criticized the high Selic rate and dollar rise. The market saw mixed movements with Vale rising and Petrobras gaining, while banks like BB, Bradesco, and Itaú Unibanco had slight drops. B3 and other companies experienced declines, with the primary deficit rising and unemployment rate falling to 7.1%.
Economic debates and forecasts
Brazil’s economic debates centered on fiscal adjustments, inflation projections, and the upcoming leadership change in the Central Bank. Despite the political landscape and market movements, there is anticipation for key events next week, including Fed Chair Jerome Powell’s speech and Brazil’s May industrial production report.