Economists Raise Brazil Rate Outlook After Lula Win
Published . Updated .
Key takeaways
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Economists lift Selic forecasts to 13.5% and raise long-term rate and inflation outlooks through 2029; the real weakens and markets slip after Lula's surprise w
Directly affected
- No company is named in this report.
Indirectly affected
- EWZ iShares MSCI Brazil ETF-15.9% 30d
iShares MSCI Brazil ETF holds stocks listed in Brazil, which this story is about (“brazil”).
- CEW WisdomTree Emerging Currency Strategy Fund
WisdomTree Emerging Currency Strategy Fund holds emerging-market currencies, which move on news like this from Brazil.
- EMB iShares J.P. Morgan USD Emerging Markets Bond ETF-1.9% 9d
iShares J.P. Morgan USD Emerging Markets Bond ETF holds emerging-market government bonds, which react to inflation and interest-rate news like this one in Brazil
- EMLC VanEck J.P. Morgan EM Local Currency Bond ETF-2.9% 30d
VanEck J.P. Morgan EM Local Currency Bond ETF holds emerging-market bonds in local currencies, which move with rate and currency news like this from Brazil.
- EEM iShares MSCI Emerging Markets ETF+0.0% 30d
iShares MSCI Emerging Markets ETF is a broad fund of emerging-market stocks that includes Brazil
- PBR Petróleo Brasileiro S.A. - Petrobras
Petróleo Brasileiro S.A. - Petrobras (crude petroleum and natural gas) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares.
- ITUB Itaú Unibanco Holding S.A+22.8% 6d
Itaú Unibanco Holding S.A (state commercial banks) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares.
- NU Nu Holdings
Nu Holdings (finance services) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| EWZ | +6.02% | +2.28% | base | after close | after close | after close | after close |
| CEWNo price data for this ticker | — | — | — | — | — | — | — |
| EMBNo price data for this ticker | — | — | — | — | — | — | — |
| EMLCNo price data for this ticker | — | — | — | — | — | — | — |
| EEMNo price data for this ticker | — | — | — | — | — | — | — |
| PBR | +4.53% | +4.62% | base | after close | after close | after close | after close |
| ITUB | +5.49% | +1.57% | base | after close | after close | after close | after close |
| NU | +3.19% | +0.09% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Economists Raise Brazil Rate Outlook After Lula Win Briefs Finance
Source: Briefs Finance
How far Ishares Msci Brazil Etf (EWZ) has moved since 3 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Ishares Msci Brazil Etf (EWZ) | three days earlier | +2.28% | final price |
| Ishares Msci Brazil Etf (EWZ) | five days earlier | +6.02% | final price |
| Itau Unibanco Holding S.A (ITUB) | three days earlier | +1.57% | final price |
| Itau Unibanco Holding S.A (ITUB) | five days earlier | +5.49% | final price |
| Nu Holdings (NU) | three days earlier | +0.09% | final price |
| Nu Holdings (NU) | five days earlier | +3.19% | final price |
| Petrobras - Petroleo Brasileiro (PBR) | three days earlier | +4.62% | final price |
| Petrobras - Petroleo Brasileiro (PBR) | five days earlier | +4.53% | final price |
Who gains and who loses around Ishares Msci Brazil Etf (EWZ)
Companies carried with this story
- EWZ Ishares Msci Brazil Etf
In “Economists Raise Brazil Rate Outlook After Lula Win,” Ishares Msci Brazil Etf (EWZ) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Brazil ETF holds stocks listed in Brazil, which this story is about (“brazil”)
- PBR Petrobras - Petroleo Brasileiro
In “Economists Raise Brazil Rate Outlook After Lula Win,” Petrobras - Petroleo Brasileiro (PBR) is linked, with no stored direction, medium confidence. Reason on file: Petróleo Brasileiro S.A. - Petrobras (crude petroleum and natural gas) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares
- ITUB Itau Unibanco Holding S.A
For “Economists Raise Brazil Rate Outlook After Lula Win,” Itau Unibanco Holding S.A (ITUB) is linked, with no stored direction, medium confidence. Reason on file: Itaú Unibanco Holding S.A (state commercial banks) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares
- NU Nu Holdings
For “Economists Raise Brazil Rate Outlook After Lula Win,” Nu Holdings (NU) is linked, with no stored direction, medium confidence. Reason on file: Nu Holdings (finance services) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares
- VALE Vale S.A
Vale S.A (VALE) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “Economists Raise Brazil Rate Outlook After Lula Win.” Reason on file: Vale S.A (metal mining) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares
How “Economists Raise Brazil Rate Outlook After Lula Win” reaches Ishares Msci Brazil Etf (EWZ)
“Economists Raise Brazil Rate Outlook After Lula Win” (3 Nov 2026) reaches Ishares Msci Brazil Etf (EWZ) through this story.
What ties Ishares Msci Brazil Etf (EWZ) to the headline is this: iShares MSCI Brazil ETF holds stocks listed in Brazil, which this story is about (“brazil”)
Also listed, Petrobras - Petroleo Brasileiro (PBR): Petróleo Brasileiro S.A. - Petrobras (crude petroleum and natural gas) is one of the largest Brazil-based companies traded in the US, so news about Brazil (“brazil”) reaches its shares
Dates and price levels for Ishares Msci Brazil Etf (EWZ)
EWZ traded between 31.40 and 43.77 across 20 sessions. The latest close on file is 32.16. ITUB traded between 9.56 and 10.20 across 4 sessions. The latest close on file is 10.18.
A simple score for Ishares Msci Brazil Etf (EWZ)
40 out of 100
“Economists Raise Brazil Rate Outlook After Lula Win” scores 40 out of 100. The score uses 1 sources, and 5 linked companies.