Brazil Assets Rally as Lula Spending Cuts Bring Temporary Relief

-- Brazilian assets broadly rallied again Thursday after Finance Minister Fernando Haddad announced spending cuts meant to help hit the country’s fiscal goals, providing a reprieve to markets.House Democrats Consider Demanding Biden Withdraw From RaceSwap rates fell and the Brazilian real strengthened amid a benign session for local assets, as investors welcomed Haddad’s Wednesday night announcement that the government would make 25.9 billion reais in budget cuts in 2025.

Haddad’s announcement came after weeks of doubts about Lula’s willingness to agree to spending reductions and mounting concerns about the minister’s efforts to shore up public accounts. While the announcement may offer short-term relief to Brazilian assets, markets still expect more action to ensure fiscal sustainability in the days ahead.

It meant “we didn’t get to the see the real Donald Trump,” said “Apprentice in Wonderland” writer Ramin Setoodeh.WASHINGTON — A leading House Democrat is preparing a constitutional amendment in response to the Supreme Court's landmark immunity ruling, seeking to reverse the decision “and ensure that no president is above the law.”Ruth Ben-Ghiat highlighted “one of the most alarming things” about the right-wing Heritage Foundation’s handbook for a potential second Trump term.

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