The Ibovespa, the main index of the São Paulo stock exchange, the B3, fell once again this Thursday (23), now to 98 thousand points, with fears about the risk of a global recession and fiscal concerns in the Brazil.
The indicator fell by 1.45% to 98,080 points. It is the lowest score in 2022, and the lowest since November 4, 2020 (97,866 points). See more quotes.
The previous day, the index fell 0.16% to 99,522 points. With today’s result, it started to accumulate a drop of 1.75% in the week, 11.92% in the month and 6.43% in the year.
Ana: Political wing evaluates expanding voucher to truck drivers to R$ 1,000
What is messing with the markets?
In the view of Bradesco’s economics team, concerns about global economic activity continue to weigh on the markets. “Caution prevails amid the risks of recession ahead in the United States and the world,” he said in a report.
The main indexes on Wall Street, however, had a positive session, even after data showed that business activity in the US slowed sharply in June.
Oil prices traded slightly lower. Iron ore futures contracts closed trading on the Dalian Stock Exchange with a recovery, up more than 2%.
In Brazil, fears of fiscal worsening with possible measures to compensate for the rise in fuel prices also keep financial agents cautious and add volatility to the market.
In the political-fiscal news, the government’s initiatives to create aid for truck drivers and expand gas vouchers to low-income families this election year, for example, raised fears about what the impact will be on public coffers, at a time of tightening Union accounts.
The Central Bank increased the growth forecast for the country’s Gross Domestic Product (GDP) this year from 1% to 1.7%. The information released this Thursday by the director of Economic Policy at the BC, Diogo Guillen.
The president of the Central Bank, Roberto Campos Neto, said this Thursday that the high degree of uncertainty in the current scenario made the Central Bank modulate its strategy to bring inflation to “around” the target in 2023, no longer the exact level of the target of 3.25%.
“We talk about a higher rate for a longer horizon in the same strategy as ‘around the target’. We understand that this is enough to achieve convergence. This was done because the volume of shocks and the degree of uncertainty is so great, and we had measures that generate more uncertainty, which we understand that this was the best way”, he said.
Finally, sources from the Ministry of Economy informed the Ana Flor’s blog that the government’s economic area endorsed the proposal for the “truck voucher”, which provides aid of R$ 1 thousand for the category and is under discussion in the National Congress.
Now, with the “ok” from Minister Paulo Guedes’ team, Congress will no longer have the government’s resistance, and aid can be paid to up to 800,000 truck drivers. According to calculations by the economic area, the measure should cost R$ 4.8 billion. President Jair Bolsonaro has truck drivers based on political support.