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Brazil

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RGE ANALYSIS

Brazil: Industrial Output Disappointed in July

By Bertrand Delgado Aug 31, 2010

Brazil: Monetary Policy

When Will Brazilian Inflation Move Closer to Target?

Brazil: The Brazilian Markets

Brazilian Equities: A Look at the Bovespa

Brazil: Fiscal Policy

Are Brazil's Fiscal Accounts Sound?

Brazil: Domestic Politics

Pre-Election Buzz in Brazil: Dilma's Poll Lead Might Prevent a Runoff

Brazil: Current Account

What Is the Path of Brazil's External Accounts and Debt Dynamics?

Brazil: Economic Profile

How Fast Is Brazil Decelerating in H2 2010? What About 2011?

Macro View

Brazil: The Brazilian Markets

Brazilian Equities: A Look at the Bovespa

How Long Will the Brazilian Real Remain Overvalued?

Brazil : Latin America : Macro View : Markets : Currencies : Equities : Growth Outlook and Business Cycle :

Brazil: Current Account

What Is the Path of Brazil's External Accounts and Debt Dynamics?

Brazil Now Investment Grade, Say All Three Major Rating Agencies

Brazil : Emerging Markets : Latin America : Macro View : Current Account : External Balance :

Brazil: Labor Market

Is Brazil's Labor Market Performing Better Than Expected?

Brazil : Latin America : Macro View : Markets : Labor Markets and Productivity :

Brazil: Economic Profile

How Fast Is Brazil Decelerating in H2 2010? What About 2011?

How Long Will the Brazilian Real Remain Overvalued?

Brazil : Latin America : Macro View : Growth Outlook and Business Cycle :

Banco del Sur: The Bank of the South

Will the Global Crisis Accelerate the Creation of the Bank of the South?

Andean : Argentina : Bolivia : Brazil : Ecuador : Uruguay : Venezuela : Latin America : Geostrategic and Long Term Issues : Macro View : IMF and International Economic Institutions : International Organizations :

Latin America: Monetary Policy

Will Brazil Resume Tightening in 2011?

What Is Mexico's Monetary Policy Outlook for 2010?

Argentina : Brazil : Chile : Mexico : Latin America : Macro View : Monetary Policy and Inflation :

Brazil: Fiscal Policy

Are Brazil's Fiscal Accounts Sound?

Brazil Now Investment Grade, Say All Three Major Rating Agencies

Brazil : Latin America : Finance and Banking : Macro View : Fiscal Policy :

Brazil: Monetary Policy

When Will Brazilian Inflation Move Closer to Target?

Will Brazil Resume Tightening in 2011?

Brazil : Latin America : Macro View : Monetary Policy and Inflation :

Markets

Brazil: The Brazilian Markets

Brazilian Equities: A Look at the Bovespa

How Long Will the Brazilian Real Remain Overvalued?

Brazil : Latin America : Macro View : Markets : Currencies : Equities : Growth Outlook and Business Cycle :

Brazil: Energy Sector

Petrobras's Financing and Spending Plans

How Will Brazil's Pre-Salt Oil Affect the Energy Markets?

Brazil : Emerging Markets : Latin America : Markets : Natural Gas : Oil : Oil and Energy :

Emerging Markets: Economic Profile

Will the 2010 World Cup Stimulate Growth in South Africa?

Poland Macro View: Q2 GDP Growth Beats Expectations

Andean : Brazil : China : Colombia : Mexico : North East Asia : Peru : Russia : Russia, CIS and the Caucasus : South Africa : South East Asia : Taiwan : Asia/Pacific : Emerging Markets : Latin America : Middle East and Africa : Markets :

Brazil: Labor Market

Is Brazil's Labor Market Performing Better Than Expected?

Brazil : Latin America : Macro View : Markets : Labor Markets and Productivity :

Finance & Banking

Brazil: Fiscal Policy

Are Brazil's Fiscal Accounts Sound?

Brazil Now Investment Grade, Say All Three Major Rating Agencies

Brazil : Latin America : Finance and Banking : Macro View : Fiscal Policy :

Lending Conditions in Brazil

Lending Conditions in Brazil: Fostering the Recovery?

Brazil: Q2 2009 GDP Declined 1.2% y/y But Expanded 1.9.% q/q

Brazil : Latin America : Finance and Banking : Corporate Finance : Real Estate and Mortgage Finance :

Geostrategic & Long Term Issues

Brazil: Domestic Politics

Pre-Election Buzz in Brazil: Dilma's Poll Lead Might Prevent a Runoff

How Significant Are Brazil's New Oil Regulations?

Brazil : Latin America : Geostrategic and Long Term Issues : Domestic Politics and Political Risks :

Biofuel

Greening Transport: Can Biofuels Challenge U.S. Oil Dependence?

What Is the Current State of the Ethanol Market?

Brazil : China : North East Asia : United States : Asia/Pacific : Latin America : North America : Geostrategic and Long Term Issues : Climate Change and Clean Energy : Climate Change and Natural Resources :

The Evolving OAS

Will the Obama Administration Improve U.S.-Latin American Relations?

Are Political Freedoms Deteriorating in Venezuela?

Andean : Argentina : Bolivia : Brazil : Canada : Chile : Colombia : Ecuador : Mexico : Peru : Uruguay : Venezuela : Latin America : North America : Geostrategic and Long Term Issues : Domestic Politics and Political Risks : Foreign Policy and Geostrategic Risks : International Organizations :

Brazil's Foreign Policy

What Does Lula Want from Ahmadinejad?

Does Lula's Visit Herald a Deepening Brazil-China Economic Relationship?

Brazil : Venezuela : Latin America : Geostrategic and Long Term Issues : Foreign Policy and Geostrategic Risks : IMF and International Economic Institutions :

Banco del Sur: The Bank of the South

Will the Global Crisis Accelerate the Creation of the Bank of the South?

Andean : Argentina : Bolivia : Brazil : Ecuador : Uruguay : Venezuela : Latin America : Geostrategic and Long Term Issues : Macro View : IMF and International Economic Institutions : International Organizations :

Mercosur: South America's Trade Bloc

What Is the Future of Mercosur?

Andean : Argentina : Bolivia : Brazil : Chile : Colombia : Ecuador : Uruguay : Venezuela : Latin America : Geostrategic and Long Term Issues : International Organizations :

Key Indicators

Gross Domestic Product
 (1995=100, SA)
142.62,145.34,146.86,150.6,155.4 155.4
Consumer Price Index
 General
 (December 1993=100, NSA)
3063.93,3079.86,3097.42,3087.26,3110.74 3,110.74
Retail Sales Index
 Value - Index of retail sales value
 (2003=100, SA)
204.97,209.53,212.07,212.38,212.85 212.85
Foreign Trade
 Trade Balance [FOB-FOB]
 (US dollars, NSA)
668000000,1283000000,3443000000,2278000000,1358000000 1,358,000,000
Industrial Production Index
 General Index
 (Mid-2002=100, SA)
124.34,126.57,130.65,130.55,130.22 130.22
Interest Rates
 Overnight Actual Rate [SELIC]
 (% per annum, NSA)
8.65,8.65,8.72,9.4,9.9 9.9
data by Moody's

RGE's Q3 2010 Brazil Outlook

Overall, RGE expects Brazilian economic expansion of 7% in 2010 (range of 6.5-7.5%) well above the 10-year trend of 3.5%.  However, strong growth in investment (21% y/y) is key to our forecast, followed by private consumption (7.4% y/y), and we maintain our long-held view that net exports remain a drag on growth. A few weeks ago, we raised our 2010 GDP forecast as Q1 2010 domestic demand growth surprised to the upside. In 2011, growth will likely decelerate to 4.5% (range 4%-5%) amid withdrawal of monetary and fiscal stimulus, sluggish global growth and a high base.

Lower food prices should help contain headline inflation into July, but strong domestic demand and a tight labor market will likely put upward pressure on prices in H2 2010. Meanwhile, range-bound commodity prices and strong local currency, in real terms, should have a tempering effect on prices.

Read the Q3 2010 Brazil Outlook.

RGE Analysis

LATAM FOCUS

Brazil’s Industrial Output Disappoints; Dilma Favorite for Presidency

By Bertrand Delgado, Juan Lorenzo Maldonado and Alex Giron Sep 1, 2010

Brazil: Industrial Output Disappointed in July

By Bertrand Delgado Aug 31, 2010

LATAM FOCUS

Week Ahead (Week of August 30, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 27, 2010

LATAM FOCUS

Brazil’s Spending Remains High Before Election

By Bertrand Delgado, Juan Lorenzo Maldonado and Alex Giron Aug 27, 2010

RGE STRATEGY VIEW

Struggling to Break Free: Rising Correlations Part II

By David Nowakowski and Natalia Gurushina Aug 25, 2010

LatAm Focus: Brazil’s Inflation Reaches Bottom; Mexico on a Rocky Growth Path

By Bertrand Delgado, Juan Lorenzo Maldonado and Ana Pulido Aug 25, 2010

LatAm Focus: Colombia Pushes Forward While Venezuela Surprises to the Upside

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 20, 2010

LatAm Focus: Lula’s Protégé Dilma Rouseff Advances in Brazil Election

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 18, 2010

Brazil: Growth and SELIC Still Adjusting Downward

By Bertrand Delgado Aug 16, 2010

LATAM FOCUS

Week Ahead (Week of August 16, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 13, 2010

LatAm Focus: Brazil’s Growth Decelerates While Colombia and Venezuela Mend Ties

By Bertrand Delgado, Juan Lorenzo Maldonado and Maria Paula Carvajal Aug 13, 2010

Brazil: Economic Activity Consolidating to a Slower Pace

By Bertrand Delgado Aug 12, 2010

LATAM FOCUS

Mexico and the U.S. Together for the Good Times and Bad

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 11, 2010

RGE STRATEGY FLASH

Brazil: Central Bank Report and Markets Suggest 2010 Tightening Cycle Is Ending

By Bertrand Delgado Aug 9, 2010

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 6, 2010

LatAm Focus: Chile Recovers While Venezuelan Inflation Surprises on Downside

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 6, 2010

LATAM FOCUS

Tightening Cycle to Continue in Chile and Peru

By Bertrand Delgado and Juan Lorenzo Maldonado Aug 4, 2010

RGE STRATEGY VIEW

Q3 2010 Scenario Analysis: Macroeconomic Factors & Asset Class Investment Implications

By Christian Menegatti, Rachel Ziemba, Arnab Das, Arun Motianey, Gina Sanchez, Natalia Gurushina and David Nowakowski Aug 2, 2010

LatAm Focus: Brazil Shifts to Dovish While Mexico Stays Neutral

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 30, 2010

LatAm Focus: Brazil's Current Account Deficit Widens

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 28, 2010

RGE STRATEGY VIEW

Cross Asset Monthly: A Summer of Discontent: Navigating the Tug of War Between Greed and Fear

By Arnab Das, Natalia Gurushina, Arun Motianey, David Nowakowski, Gina Sanchez and Jennifer Kapila Jul 27, 2010

LATAM FOCUS

Week Ahead (Week of July 26, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 23, 2010

LatAm Focus: Brazil's Central Bank Sees Lower Inflation Risk

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 23, 2010

LatAm Focus: Brazil Takes Its Next Monetary Step

By Bertrand Delgado, Juan Lorenzo Maldonado and Alex Giron Jul 20, 2010

LATAM FOCUS

Week Ahead (Week of July 19, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 16, 2010

LatAm Focus: Inflation Spells Trouble for Argentina

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 15, 2010

LatAm Focus: Inflation Outlook Brightens for Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 13, 2010

GLOBAL ECONOMIC OUTLOOK

Latin America: Q3 2010 Outlook

By Bertrand Delgado Jul 10, 2010

GLOBAL ECONOMIC OUTLOOK

Brazil: Q3 2010 Outlook

By Bertrand Delgado Jul 10, 2010

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 9, 2010

LatAm Focus: Don't Get Too Comfortable With Falling Inflation

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 8, 2010

LatAm Focus: Chile Makes a Full Post-Quake Recovery

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 6, 2010

LATAM FOCUS

Week Ahead (Week of July 5, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 2, 2010

LatAm Focus: Brazil Settles Into Slower Growth

By Bertrand Delgado and Juan Lorenzo Maldonado Jul 1, 2010

LATAM FOCUS

Mexico's Economic Activity Fails to Impress

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 29, 2010

LATAM FOCUS

Week Ahead (Week of June 28, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 25, 2010

LATAM FOCUS

Signs of Marginal Deceleration in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 24, 2010

LATAM FOCUS

Parsing Colombia's New President

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 22, 2010

LATAM FOCUS

Week Ahead (Week of June 21, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 18, 2010

LatAm Focus: Central Banks Determined to Tighten but Cautious of Global Jitters

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 17, 2010

LATAM FOCUS

Peru Shows No Sign of Slowing

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 15, 2010

LatAm Focus: Inflation Behaving but Still Under Watch

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 10, 2010

LatAm Focus: Chile and Brazil Growth Heralds Tightening to Come

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 8, 2010

LATAM FOCUS

Week Ahead (Week of June 7, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 4, 2010

LatAm Focus: Eurozone Jitters Yet to Shake Mexico Consumer Confidence

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 3, 2010

LATAM FOCUS

Santos on the Clear Road to Election

By Bertrand Delgado and Juan Lorenzo Maldonado Jun 1, 2010

LATAM FOCUS

Week Ahead (Week of May 31, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado May 28, 2010

LatAm Focus: Brazil Leads as Venezuela Lags

By Bertrand Delgado and Juan Lorenzo Maldonado May 27, 2010

LatAm Focus: Eurozone Woes Loom Over Forecasts

By Bertrand Delgado and Juan Lorenzo Maldonado May 25, 2010

LATAM FOCUS

What's Coming Up? (Week of May 24, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado May 21, 2010

LatAm Focus: Demand-Pull Pressures Keep Hurting Prices in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado May 20, 2010

LatAm Focus: Domestic Demand Buoys Chile and Peru

By Bertrand Delgado and Juan Lorenzo Maldonado May 18, 2010

LATAM FOCUS

What's Coming Up? (Week of May 17, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado May 14, 2010

LatAm Focus: Another Sign of Breakneck Growth in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado May 13, 2010

LatAm Focus: Inflation Swells in Brazil, Dwindles in Mexico

By Bertrand Delgado and Juan Lorenzo Maldonado May 11, 2010

LATAM FOCUS

What's Coming Up? (Week of May 3, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 30, 2010

LATAM FOCUS

Revising the Tightening Cycle in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 29, 2010

LatAm Focus: Hawkish Statements Foreshadow Brazil’s Next Move

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 27, 2010

LATAM FOCUS

What's Coming Up? (Week of April 26, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 23, 2010

LATAM FOCUS

Seasonal Factors Temper Mexico's Inflation

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 22, 2010

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 20, 2010

LATAM FOCUS

What's Coming Up? (Week of April 19, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 16, 2010

LATAM FOCUS

New Forecast for Brazil After Pleasant Surprises

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 15, 2010

LatAm Focus: Inflation Outlook Defies Brazil's Central Bank Target

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 13, 2010

GLOBAL ECONOMIC OUTLOOK

Brazil: Q2 2010 Outlook

By Bertrand Delgado Apr 12, 2010

LATAM FOCUS

What's Coming Up? (Week of April 12, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 9, 2010

LatAm Focus: Blame Perishables for High Inflation

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 8, 2010

LATAM FOCUS

Mexico's Inflation Outlook Dims

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 6, 2010

LATAM FOCUS

What's Coming Up? (Week of April 5, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 2, 2010

LatAm Focus: Growth Dynamics Remain Sound in Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Apr 1, 2010

LatAm: Brazil Inflation Holds Steady as Expectations Waver

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 30, 2010

LatAm: What's Coming Up? (Week of March 29, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 26, 2010

LatAm: All Signs Point to April Hike for Brazil

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 25, 2010

LatAm: Mexico Not Yet Fueling Its Own Engine

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 23, 2010

LatAm: What's Coming Up? (Week of March 22, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 19, 2010

LatAm: Brazil Central Bank Still Won’t Budge

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 18, 2010

LatAm: Do Brazil's Numbers Add up to a March Hike?

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 16, 2010

LatAm: What's Coming Up? (Week of March 15, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 12, 2010

LatAm: Brazil Strides Forward, Chile Treads with Caution

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 11, 2010

LatAm: Waiting on Hikes and Surveying Quake Damage

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 9, 2010

LatAm: What’s Coming Up? (Week of March 8, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 5, 2010

LatAm: Positive Dynamics Persist but Beware of Cool Breezes from the North

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 4, 2010

LatAm: Never a Dull Moment

By Bertrand Delgado and Juan Lorenzo Maldonado Mar 2, 2010

LatAm: What’s Coming Up? (Week of March 1, 2010)

By Bertrand Delgado and Juan Lorenzo Maldonado Feb 26, 2010

Latin America: What's Coming Up?

By Bertrand Delgado and Juan L. Maldonado Feb 19, 2010

Latin America: Inflation on the Rise at the Beginning of 2010

By Bertrand Delgado and Juan L. Maldonado Feb 9, 2010

Latin America: What’s Coming Up?

By Bertrand Delgado Feb 8, 2010

GLOBAL ECONOMIC OUTLOOK

Brazil: Q1 2010 Outlook

By Bertrand Delgado Jan 30, 2010

Comparing 2010 Growth Forecasts for Major Economies

By Rachel Ziemba, Elisa Parisi-Capone, Christian Menegatti, Arpitha Bykere, Bertrand Delgado and Mikka Pineda Jan 21, 2010

Carry Trade Hotspots: A Currency by Currency Forecast for 2010

By Mikka Pineda, Mary Stokes, Bertrand Delgado, Mikko Forss, Kavitha Cherian, Arpitha Bykere and Christian Menegatti Jan 4, 2010

Come to Mother: An RGE Strategy for the 2010 Carry Trade

Arnab Das, Natalia Gurushina, Jennifer Kapila, Elisa Parisi-Capone Jan 4, 2010

RGE Currency Outlook: The Brazilian Real

By Bertrand Delgado Jan 1, 2010

Latin American CDS: Fully Recovered, What Are the Risks?

Alejandro Rivera, Elisa Parisi-Capone and Bertrand Delgado Nov 13, 2009

Global Monetary Policy Outlook

The RGE Analyst Team Nov 11, 2009

Are Capital Controls in Fashion Again?

RGE Analyst Team Oct 28, 2009

Brazil Economic Outlook, Q4 2009

Bertrand Delgado Oct 7, 2009

Brazil Economic Outlook, Q3 2009

Bertrand Delgado & Italo Lombardi Jul 24, 2009

BRICs in the Monitor

RGE Analyst Team Jun 16, 2009

Brazil and China: Moves Towards a New Economic Order?

Rachel Ziemba May 18, 2009

China's Resource Buys

Rachel Ziemba Feb 21, 2009

Latin American CDS Spreads and Currencies: A Quick, Descriptive Analysis

Italo Lombardi Oct 27, 2008

Brazilian Fiscal Accounts Booming

Italo Lombardi Aug 25, 2008

Brazil, OPEC and Oil Fundamentals

Rachel Ziemba May 12, 2008

Oil Supply; Agricultural Commodities; Inflation in Asia; Brazil COPOM Hike; Emerging Europe Inflation

Christian Menegatti Apr 17, 2008

Latin America: Weathering the Storm but Not the Hurricane

By Bertrand Delgado May 29, 2007

Pragmatism or Populism: Which Will be the New Latin America's Dominant Ism?

Nouriel Roubini May 11, 2006

EconoMonitors

RGE Analysts' EconoMonitor

Urban Unemployment Increases in Colombia

Bertrand Delgado and Juan Lorenzo Maldonado Sep 2, 2010

Emerging Markets Monitor

BRIC Justice

Walter Molano Sep 1, 2010

Emerging Markets Monitor

Brazil’s Economic Policies Under President Rouseff

Thomas Trebat Aug 31, 2010

Emerging Markets Monitor

Fiscal Policy in Brazil: Why “Primary Surpluses”?

Antonio Carlos Lemgruber Aug 30, 2010

Latin America Economonitor

Going Against the Conventional Macroeconomic Wisdom in Brazil 2010

Antonio Carlos Lemgruber Aug 16, 2010

Latin America Economonitor

Is Brazil Overheating?

Edward Harrison Jul 27, 2010

Latin America Economonitor

Brazil: Flying

Walter Molano Jul 22, 2010

Global Macro EconoMonitor

A Negative Fiscal Multiplier in Brazil

Antonio Carlos Lemgruber Jul 21, 2010

Latin America Economonitor

Brazil: Economic Growth, Potential Output and Inflation

Antonio Carlos Lemgruber Jun 28, 2010

Emerging Markets Monitor

The Exchange Rate/Interest Rate Dilemma in Brazil

Antonio Carlos Lemgruber Jun 1, 2010

RGE Analysts' EconoMonitor

The Middle Makes Its Move

Michael Moran May 18, 2010

Emerging Markets Monitor

China's Recent Trade Deficit: Is What You Yuan What You're Gonna Get?

Edward Hugh Apr 19, 2010

Latin America Economonitor

Regarding Brazil and Dictatorship

Michael Moran Apr 16, 2010

Latin America Economonitor

Taxes on Companies

Eduardo Lora Mar 26, 2010

Emerging Markets Monitor

Flexible Exchange Rates and the Domestic Savings Rate

Antonio Carlos Lemgruber Mar 23, 2010

Global Macro EconoMonitor

2010: BRICs, PIIGS and the G-5 Countries

Antonio Carlos Lemgruber Mar 7, 2010

RGE Analysts' EconoMonitor

Exit Strategy Has begun in Brazil, Inflation Surprised to the Downside in Mexico

Bertrand Delgado and Juan Lorenzo Maldonado Feb 25, 2010

RGE Analysts' EconoMonitor

Latin America: A Closer Look at Inflation and Growth Dynamics in Brazil, Mexico, Argentina and Colombia

Bertrand Delgado, Juan Lorenzo Maldonado, and Christian Menegatti Feb 23, 2010

RGE Analysts' EconoMonitor

Stars Align for an Early Hike in Brazil, Mexico's Regulators Ease Pension Fund Investment Rules

Bertrand Delgado and Juan Lorenzo Maldonado Feb 18, 2010

RGE Analysts' EconoMonitor

LatAm Update: Brazil Inflation Tops Expectations, Peru GDP Grows Robustly

Bertrand Delgado Feb 16, 2010

Emerging Markets Monitor

Brazil, Inc.

Walter Molano Feb 16, 2010

Emerging Markets Monitor

Emerging Market Bubbles are Essential for Global Stabilization

Arun Motianey Feb 16, 2010

Global Macro EconoMonitor

The New Banana Republics

Antonio Carlos Lemgruber Feb 11, 2010

Latin America Economonitor

A New Latin American Boom Seems to be Starting but it will be Plagued with Risks

Eduardo Lora Feb 2, 2010

Europe EconoMonitor

Recovering Markets

Marcus Svedberg Jan 26, 2010

Peterson Institute for International Economics Monitor

Does Russia Belong in the BRICs?

Anders Aslund Jan 25, 2010

US EconoMonitor

Government Payroll across U.S. Presidencies

Rebecca Wilder Jan 19, 2010

Latin America Economonitor

Peru: Hands across the Amazon

Walter Molano Jan 12, 2010

Emerging Markets Monitor

East vs. West

Walter Molano Jan 11, 2010

Emerging Markets Monitor

Two BRICs: India vs. Brazil

Rebecca Wilder Jan 10, 2010

RGE Analysts' EconoMonitor

Collateral Damage

Nouriel Roubini and Arpitha Bykere Dec 23, 2009

RGE Analysts' EconoMonitor

Latin American CDS: Fully Recovered, What are the Risks?

Alejandro Rivera, Elisa Parisi-Capone and Bertrand Delgado Nov 17, 2009

Emerging Markets Monitor

Vulnerability, Exchange Rate and International Reserves: Whither Brazil?

Bruno Saraiva and Otaviano Canuto Sep 21, 2009

Latin America Economonitor

On the Links to a Recovery in Latin America

Javier Guillermo Gomez Pineda Sep 8, 2009

Daily Digest

News

Brazil's opposition attacks Rousseff over scandal

Reuters  Sep 02, 2010

Blogs

Brazil’s oil valuation: politicians score ahead of investors

Financial Times  Jonathan Wheatley Sep 02, 2010

News

FACTBOX-Key political risks to watch in Brazil

Reuters  Raymond Collit Sep 01, 2010

News

Santos: Brazil must condemn FARC as terrorists

Colombia Reports  Sep 02, 2010

News

Brazil Sao Paulo price index rises 0.17 pct in Aug

Reuters  Vanessa Stelzer Sep 02, 2010

News

UPDATE 3-Brazil charges Petrobras high price in $43 bln swap

Reuters  Raymond Colitt Sep 01, 2010

News

Palocci, Meirelles to Be Part of Brazil Government Under Rousseff, IG Says

Bloomberg  Andre Soliani Sep 01, 2010

News

Brazil's Lula seen finalizing Petrobras plan

Reuters  Stuart Grudgings Sep 01, 2010

News

Colombia’s Santos meets Lula da Silva in his first overseas visit

MercoPress  Sep 01, 2010

Research

Energy Security in South America: The role of Brazil

International Institute for Sustainable Development  Adilson de Oliveira 2010

News

Brazil May Pause at 10.75% on Below-Target Inflation, Slower Global Growth

Bloomberg  Iuri Dantas and Matthew Bristow Sep 01, 2010

News

UPDATE 1-Brazil 2011 budget foresees 5.5 pct growth

Reuters  Isabel Versiani Aug 31, 2010

News

Brazil preparing to act against the strong appreciation of its currency

MercoPress.  Aug 30, 2010

News

Brazil's July Output Rises Less Than Expected, Boosting Pause Expectations

Bloomberg  Matthew Bristow Aug 31, 2010

News

PREVIEW-Brazil's economy cooling but still plenty warm

Reuters  Aug 30, 2010

News

Brazil's Rousseff Says Defending Cuts in Government Spending Is a `Crime'

Bloomberg  Maria Luiza Rabello Aug 31, 2010

News

Pimco Lets Palocci Make Rousseff Market Favorite to Succeed Lula in Brazil

Bloomberg  Joshua Goodman and Iuri Dantas Aug 30, 2010

News

Greenspan Conundrum Is Lula's Gain as Long-Term Yields Sink: Brazil Credit

Bloomberg  Ye Xie and Andre Soliani Costa Aug 30, 2010

News

Serra in disarray “campaigns” for Lula da Silva’s protégé Dilma

MercoPress.  Aug 30, 2010

News

Brazil economy to grow up to 6 pct 2011-14 -finmin

Reuters  Silvio Cascione Aug 30, 2010

Analysis

Limits of Brazil-Iran Relationship Revealed

ISN  Samuel Logan Aug 17, 2010

News

Brazilian Real Gains for a Third Day on Petrobras Share Sale

Bloomberg  Ye Xie Aug 27, 2010

News

PREVIEW-Brazil's Selic rate seen at 10.75 pct next week

Reuters  Vanessa Stelzer Aug 26, 2010

News

2nd UPDATE: Brazil Public Surplus Widens In July To BRL2.45B

Wall Street Journal  Dow Jones Newswires and Gerald Jeffris Aug 26, 2010

News

Brazil Reduces 8-Month Budget Target by 25% After Lower Readings for July

Bloomberg  Andre Soliani and Arnaldo Galvao Aug 26, 2010

News

FACTBOX-Recent public opinion polls on Brazil's election

Reuters  Raymond Colitt Aug 26, 2010

News

Rousseff Widens Lead Over Serra in Brazil Election, Folha Says

Business Week  Aug 26, 2010

News

Brazil Unemployment Rate Falls to 6.9%; Yields Jump

Business Week  Matthew Bristow Aug 26, 2010

News

Shell and Brazil's Cosan to jointly make ethanol

Business Week  Aug 25, 2010

News

Rousseff May Take `Unexpected' Brazil Budget Cuts, Says Nomura's Volpon

Bloomberg  Matthew Bristow Aug 25, 2010

News

Banks Cut Bonds to Record to Lend at Higher Interest Rates: Brazil Credit

Bloomberg  Aug 26, 2010

News

Brazil Rate Futures Jump Most in a Month on Budget Concern

Business Week  Gabrielle Coppola Aug 25, 2010

Opinions

Brazilian fiscal lessons for Greece

Financial Times  Alan Beattie Aug 24, 2010

News

Brazil Presidential Poll Shows Rousseff Gains Ground -Datafolha

Automated Trader  Dow Jones Aug 23, 2010

News

Brazil's Rousseff could win in 1st round -poll

FOXBusiness  Reuters Aug 24, 2010

Blogs

Brazilian elections no joke. Literally.

AL Jazeera  Gabriel Elizondo Aug 25, 2010

News

Chile, Brazil Airlines Plan Massive Merger

Forbes  Oxford Analytica Aug 24, 2010

News

Brazil assures fearful Bolivia it will keep purchasing natural gas

Merco Press  Aug 24, 2010

Analysis

PROFILE-Brazil's central bank chief Henrique Meirelles

Reuters  Ana Nicolaci da Costa and Maria Carolina Marcello Aug 24, 2010

News

Brazil Real Falls in Longest Losing Streak in 5 Weeks on Global Slowdown

Bloomberg  Gabrielle Coppola Aug 24, 2010

News

Brazil's Rousseff May Win in First-Round Vote as Serra Loses Supporters

Bloomberg  Maria Luiza Rabello Aug 24, 2010

News

Austerity measures to balance the budget, if Dilma is Brazil’s next president

Merco Press  Aug 23, 2010

News

Lula da Silva recommends Dilma to think and act as the “mother of the poor”

Merco Press  Aug 23, 2010

News

Rousseff may cut Brazil budget, inflation goal-report

Reuters  Elzio Barreto and Todd Benson Aug 23, 2010

News

Coffee Futures Decline From 13-Year High as Brazil Crop May Ease Supplies

Bloomberg  Yi Tian Aug 23, 2010

News

Brazil overtakes Canada and Spain to become world’s eighth largest economy

MercoPress  Aug 20, 2010

News

Brazil Consumer Prices Unexpectedly Fall for Second Month; Futures Plunge

Bloomberg  Matthew Bristow Aug 20, 2010

News

Brazil Job Creation Slows for Third Straight Month in July to 181,796

Bloomberg  Iuri Dantas and Matthew Bristow Aug 19, 2010

News

Latam’s business climate in July reached highest level in a decade

Merco Press  Aug 19, 2010

News

Lula May `Overshoot' Local Bond Sale Target, Treasury Says: Brazil Credit

Bloomberg  Ye Xie, Andre Soliani and Arnaldo Galvao Aug 19, 2010

News

UPDATE 1-Brazil cenbank sees low 3rd qtr inflation - report

Reuters  Elzio Barreto Aug 19, 2010

News

Brazil holds its first online presidential debate

BBC  Aug 19, 2010

News

Brazil Real Weaker Early As Market Reacts To US Jobs Data

Wall Street Journal  Gerald Jeffris Aug 19, 2010

Analysis

Brazil: What Slowdown?

Morgan Stanley  Gray Newman Aug 17, 2010

News

Brazil Economy to Accelerate in Third Quarter, Central Bank President Says

Bloomberg  Andre Soliani Aug 18, 2010

News

Brazilian journalists challenge law which forbids satirizing candidates

Merco Press  Aug 18, 2010

News

Brazil's Bovespa Drops, Ending Four Day Streak, as Commodity Prices Fall

Bloomberg  Alexander Ragir Aug 18, 2010

News

Brazil’s Dilma Rousseff closer to winning in the first round

Merco Press  Aug 18, 2010

News

UPDATE 1-Brazil's Rousseff widens lead in Ibope poll

Reuters  Guillermo Parra-Bernal Aug 17, 2010

News

Brazilian Real Advances to Highest Level in a Week as Commodities Increase

Bloomberg  Boris Korby Aug 17, 2010

News

Brazil’s Bovespa Gains for Fourth Day on Global Growth Optimism

Business Week  Gerald Jeffris Aug 17, 2010

News

Tam Bonds Expensive After Rallying on Lan Takeover

Business Week  Veronica Navarro Espinosa Aug 17, 2010

News

Brazil Inflation Expectations Are In Line With Target, Meirelles Says

Bloomberg  Andre Soliani and Arnaldo Galvao Aug 16, 2010

Blogs

Hey Bric Spender - a special series on consumers

FT beyondbrics  Josh Noble Aug 16, 2010

News

Ms Rousseff strongly supports national capital in Brazilian airlines

Merco Press  Aug 16, 2010

News

Brazil Interest-Rate Futures Yields Fall for Third Day as Prices Decline

Bloomberg  Boris Korby Aug 16, 2010

News

Brazilian Economists Lower 12-Month Inflation Forecast to 4.98% From 5%

Bloomberg  Andre Soliani Aug 16, 2010

News

UPDATE 1-Brazil poll shows Rousseff with 8-point lead

Reuters  Raymond Colitt Aug 13, 2010

News

EMERGING MARKETS-Colombia, Chile peso dip on intervention talk

Reuters  Michael O'Boyle Aug 13, 2010

News

Doubting Meirelles Rate Increases Lets Brazil Raise Record Local Funding

Bloomberg  Ye Xie Aug 13, 2010

News

Brazil Says It Reduced Dollar-Denominated Reserves in 2009 to 81.9 Percent

Bloomberg  Andre Soliani Aug 12, 2010

Blogs

Weekly Roundup from Across the Americas

Americas Quarterly  AS-COA Online Aug 11, 2010

News

Brazil Bond Risk to Top Mexico as Morgan Stanley Wary of Rousseff Budget

Bloomberg  Veronica Navarro Espinosa Aug 12, 2010

News

Bovespa Stock Index Declines on World Growth Concern; Homebuilders Retreat

Bloomberg  Alexander Ragir Aug 12, 2010

News

China on course to become biggest foreign direct investor in Brazil

Merco Press  Aug 12, 2010

News

EMERGING MARKETS-Latam stocks slip on U.S., China slowdown woes

Reuters  Michael O'Boyle and Luciana Lopez Aug 11, 2010

News

Brazil Real Insurance Rises to World's Most Expensive as Meirelles on Hold

Bloomberg  Tal Barak Harif and Boris Korby Aug 11, 2010

News

Two leading Brazilian banks join to expand operations in Africa

Merco Press  Aug 11, 2010

Analysis

Brazil/China economy: Deeper inroads

Economist Intelligence Unit  Aug 10, 2010

News

Brazil Bond Market Has Busiest August in Decade as Borrowing Costs Plunge

Bloomberg  Gabrielle Coppola and Veronica Navarro Espinosa Aug 10, 2010

News

Brazil Fin Min: Keeps 2010 Forecast for 6.5% GDP, 5.0% Infl

iMarket News  Daniel Horch Aug 10, 2010

Opinions

The Folly of Brazil's Exceptionalism

The Huffington Post  Daniel Wagner Aug 09, 2010

RGE Global Outlook Update


Table of Contents


Economic Outlooks:
 Global | U.S. | Japan
China | Eurozone
Germany | France | UK
India | Brazil


Global Issues
Growth & CPI | Commodities

Top 10 Most Read

1. Executive Summary: States of Flux: Stay Risk Averse
2. Approaching a Dangerous Stall Speed
3. The Big Picture: It Will Get Worse Before it Gets Better
4. U.S. Industrial Production Rises; Mixed Signals From Regional Surveys
5. Power Shortages Plague MENA
6. Wen Ex Machina
7. China's PMIs Signal a Moderation, Not a Hard Landing
8. Commodities: No Pain, No Grain
9. U.S. Home Prices: Any Signs of an Impending Double Dip?
10. Australian GDP Growth: Still Going Strong in 2010

FEATURED ANALYSIS

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FEATURED Critical ISSUE

Featured Briefing Image

Featured Analysis

China Focus: Inflation, Trade Tensions Heat Up

By Rachel Ziemba and Adam Wolfe Aug 06, 2010

“Despite the slowdown in recent months, the pace of Chinese growth will continue to frustrate U.S. policy makers, as China records yet another large trade surplus for July.”

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By Gina Sanchez and Christian Menegatti 9/2/2010

United States: Oil Production and Supply

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Eurozone: Economic Profile

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Arnab Das 8/31/2010

Latin America: Monetary Policy

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