Brazil’s 2026 election may be a breaking point for the country’s markets and policies. Fiscal rules, interest rates, and asset returns all depend on who wins. With questions over whether Lula will seek re-election and no clear conservative successor to Bolsonaro, the field is wide open.

April 11, 2025: Recent market developments have added selling pressure to credit markets and brought renewed attention to the behaviour of European, US and emerging market government bonds, as well as overall liquidity conditions. Changes in investor sentiment, driven by global trade uncertainty, geopolitical tensions, rate volatility, and safe-haven dynamics, have influenced fixed income markets. Our experts have compiled a breakdown of current trends in corporate bonds, European, US and emerging market rates, investor reactions, and broader liquidity considerations.

Secondo un recente studio di Bloomberg NEF, gli investimenti globali nella transizione energetica hanno superato i 2,1 trilioni di dollari nel 2024, con un aumento dell'11% rispetto al 2023. Sebbene questo rappresenti un traguardo significativo, è anche un rallentamento rispetto ai tassi di crescita annuali superiori al 25% degli anni precedenti. La domanda chiave rimane: questo livello di investimento è sufficiente?