Brazil

Trusted Sources provides prescient and in-depth analysis of Latin America's largest economy via independent, in-country research that is unique in combining political, economic, social and external factors to provide a comprehensive picture that goes far beyond short-term data.

We offer investors an insightful road map to understanding current developments and their investment implications. Previous calls in which we were well ahead of the market include our accurate forecast of Brazil's worst recession in decades, the fiscal difficulties ahead of the government despite the appointment of ultra-orthodox Finance Minister Joaquim Levy, and the sweeping political and economic ramifications of Brazil's largest-ever corruption scandal under Operation Lava Jato ("Car Wash").

Core research themes we cover include infrastructure, energy, agriculture, the consumer-driven economy and the country's relationship with China, which we examine through the framework of short and long-term growth drivers, alongside public policies that will sustain or impede sector developments. We shed light on the opaque relationship between the government and its state-owned oil behemoth Petrobras through in-depth analysis of oil & gas regulation as well as political and economic policies that shape the company's investment imperatives. We also have expertise in specific segments ranging from oilseeds/grains, renewable energy and water to homebuilding, and have been commissioned to do bespoke research projects on the country's financial services sector, pension funds and agricultural exports among other sectors.

Not least important, the Brazil research team closely monitors the ongoing outlook for reform as part of Trusted Sources' global research theme. Without broad political and economic reform, Brazil will remain stuck in a low-growth, high-inflation trap. With the implementation of the right reforms, however, this country of over 200 million people, with favourable demographics and rich resources, would see its vast investment potential unlocked and a welcome return to a sustainable and higher-growth cycle.

* Brazil: The war ahead, Grace Fan, Elizabeth Johnson, 17 Mar 2017
Political survival outranks pension reform on the list of priorities for implicated politicians
Politics/governance
* Brazil: Tremors ahead of Janot’s new list, Grace Fan, Elizabeth Johnson, 10 Mar 2017
Post-Carnival, a scandal-hit government gears up for a battle royal
Politics/governance
* Brazil: Infrastructure agenda gains traction, Grace Fan, Elizabeth Johnson, 23 Feb 2017
This year’s auctions will have little impact on economic growth in 2017, but could boost positive investor sentiment
Infrastructure
* Brazil: Consumer recovery still on hold, Elizabeth Johnson, Grace Fan, 16 Feb 2017
The government’s move to give consumers access to severance pay funds is a feel-good measure that will not significantly move the dial
Consumer
* Brazil: Temer nominates close ally as Supreme Court justice, Elizabeth Johnson, Grace Fan, 9 Feb 2017
Justice Minister Alexandre de Moraes has come under fire owing to his strong ties to politicians implicated in ‘Lava Jato’
Politics/governance