Less than a week before Brazil’s presidential elections, Lula’s handpicked successor Dilma Rousseff seems to be rolling to easy victory against main opposition candidate Jose Serra (in the second if not first round of voting). Despite the general complacence of the market towards a probable Dilma victory – epitomized by the successful sale by Brazilian companies of a record US$8.7 billion in international bonds this month (or nearly 30 per cent of total Brazilian bond issuance this year,...
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