{"id":100434,"date":"2026-10-30T12:08:23","date_gmt":"2026-10-30T15:08:23","guid":{"rendered":"https:\/\/murray.adv.br\/?p=100434"},"modified":"2026-10-30T12:08:23","modified_gmt":"2026-10-30T15:08:23","slug":"brazilian-assets-slide-amid-investor-flight-to-safer-bets","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/brazilian-assets-slide-amid-investor-flight-to-safer-bets\/","title":{"rendered":"Brazilian assets slide amid investor flight to safer bets"},"content":{"rendered":"<section class=\"content--header\">\n<div class=\"row content-head non-featured \">\n<div class=\"title\">\n<h6 class=\"content-head__title\" style=\"text-align: center\"><em><strong>Post-election turmoil drives losses across stocks and bonds, prompting portfolio managers to favor CDI-linked investments and overseas equities<\/strong><\/em><\/h6>\n<\/div>\n<\/div>\n<div class=\"content__signa-share\">\n<div class=\"content__signature\">\n<div class=\"content-publication-data\">\n<div class=\"content-publication-data__text\">\n<div class=\"content-publication-data__from\"><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p class=\"content-publication-data__updated\"><time datetime=\"2026-10-30T08:05:07.663-03:00\">10\/30\/2026\u00a0<\/time><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"content__share-bar-container\"><\/div>\n<\/div>\n<\/section>\n<div id=\"mc-article-body\" class=\"mc-article-body ready cropped\">\n<article>\n<div class=\"no-paywall\">\n<div class=\"row medium-uncollapsed content-media content-photo\" data-block-type=\"backstage-photo\" data-block-id=\"0\">\n<div class=\"mc-column content-media__container\" data-image-display=\"normal\">\n<div class=\"content-media-container\" style=\"text-align: center\">\n<figure class=\"content-media__figure\"><img loading=\"lazy\" decoding=\"async\" class=\"content-media__image\" src=\"https:\/\/s2-valorinternational.glbimg.com\/EFk4DzwWxl5QmDGMnaxPIyquXHs=\/0x0:3840x2560\/984x0\/smart\/filters:strip_icc()\/i.s3.glbimg.com\/v1\/AUTH_37554604729d4b2f9f3eb9ad8a691345\/internal_photos\/bs\/2026\/S\/l\/Vg551RQ3uitxbkqoLS0Q\/290525bnpparibasasset24.jpg\" alt=\"Gilberto Kfouri \u2014 Foto: Foto: Gabriel Reis\/Valor\" width=\"468\" height=\"312\" \/><figcaption class=\"content-media__description\"><em>Gilberto Kfouri \u2014 Photo: Foto: Gabriel Reis\/Valor<\/em><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mc-column mc-side-item__container\" data-block-type=\"ads\" data-block-id=\"1\"><\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"50\" data-block-id=\"2\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">October is ending with heavy losses across Brazilian assets, from equities to fixed-rate and inflation-linked bonds. <a class=\"\" href=\"https:\/\/measures.globo.com\/v1\/click?c=busca-headless&amp;h=48289c198854d2bd8f61160b4b3e721b520aeb30053087516cdc40dc14d07e85a69a1a97693e0e01c6d8ee9bad6cf8f0213adcd1644fb51b1673b7428376e148&amp;k=globocom.busca-headless&amp;pa=1&amp;po=4&amp;q=selloff&amp;qid=valorinternational.info_query_recency&amp;rid=6a17439ef980513106b714c8807a98fd&amp;t=valorinternational&amp;ts=1793358186&amp;u=https%3A%2F%2Fvalorinternational.globo.com%2Fmarkets%2Fnews%2F2026%2F10%2F27%2Finvestors-look-to-lulas-economic-team-after-market-rout.ghtml&amp;_gl=1*1cipbmp*_ga*NjMzMTY3MjY1LjE3NDI5Nzc1OTU.*_ga_NWTRTWY1TF*czE3OTMzNTgwMTEkbzgxNiRnMSR0MTc5MzM1ODE4NiRqNjAkbDAkaDA.\">Amid the market turmoil following the presidential election<\/a>, investments tracking the Selic benchmark interest rate and the CDI interbank rate have emerged as the year&#8217;s top performers, delivering a steady <strong>11.7% <\/strong>return so far.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"80\" data-block-id=\"3\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\"><a class=\"\" href=\"https:\/\/measures.globo.com\/v1\/click?c=busca-headless&amp;h=36575630a0149f7bbeab2133fb10403de3054708e5aad6d55a8cfb2f4e7456396154506e2c6457117ff035e6a2efb9672e9f08bf3d450162269391d5b92517c1&amp;k=globocom.busca-headless&amp;pa=2&amp;po=1&amp;q=comeback&amp;qid=valorinternational.info_query_recency&amp;rid=dde03f392cd7dbf579fa08fea3619a5d&amp;t=valorinternational&amp;ts=1793358133&amp;u=https%3A%2F%2Fvalorinternational.globo.com%2Fpolitics%2Fnews%2F2026%2F10%2F26%2Flula-wins-historic-comeback-bucking-global-rightward-shift.ghtml&amp;_gl=1*1wdy90z*_ga*NjMzMTY3MjY1LjE3NDI5Nzc1OTU.*_ga_NWTRTWY1TF*czE3OTMzNTgwMTEkbzgxNiRnMSR0MTc5MzM1ODEzMyRqMjUkbDAkaDA.\">President Luiz<strong> In\u00e1cio Lula da Silva&#8217;<\/strong>s reelection upended market expectations<\/a> that had taken hold after Senator <strong>Fl\u00e1vio Bolsonaro<\/strong> of the Liberal Party (PL) led the first round. Investors unwound positions that had been built around expectations of interest rate cuts, including domestic cyclical stocks and bets on a stronger real. Those trades reflected a belief that a change in government would bring aggressive fiscal adjustments, paving the way for lower interest rates and inflation, and potentially a stock market rally.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"61\" data-block-id=\"4\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">The Ibovespa, Brazil&#8217;s benchmark stock index, had fallen <strong>9.2%<\/strong> through Oct. 29. The damage was even greater among smaller companies listed on the B3 stock exchange, with the small-cap index plunging 1<strong>6.7%<\/strong>. Year to date, the two indexes were up <strong>5%<\/strong> and down <strong>18%<\/strong>, respectively. The Imob real estate index had lost <strong>22.4%<\/strong> for the month and <strong>20.2%<\/strong> for the year.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"47\" data-block-id=\"6\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Fixed income has offered little shelter outside floating-rate securities. The IRF-M, an index compiled by the Brazilian Financial and Capital Markets Association (Anbima) that tracks a basket of fixed-rate government bonds, declined <strong>1.3%<\/strong>. The IMA-B 5+, which tracks inflation-linked securities with maturities exceeding five years, fell <strong>1.4%<\/strong>.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"46\" data-block-id=\"7\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">As a result, fixed-rate Treasury bonds maturing in 2029 and 2032 now offer yields above 15% annually, compared with the current Selic rate of 13.75%. Inflation-linked Treasury bonds maturing in 2032 are yielding 7.8% above inflation. Are these levels a warning sign or a buying opportunity?<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"31\" data-block-id=\"8\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Investment executives say they have scaled back exposure to Brazilian assets while increasing international allocations, particularly in equities. Within domestic portfolios, they favor more liquid CDI-linked investments and shorter-term government bonds.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"9\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\"><strong>Defensive positioning<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"53\" data-block-id=\"10\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Brazil faces a combination of structurally higher capital costs, fiscal vulnerabilities, and a likely economic slowdown accompanied by persistent inflation pressures next year. That environment is reducing the expected returns of several asset classes relative to the CDI, said <strong>Sylvio Castro<\/strong>, head of global investment solutions and funds of funds at Ita\u00fa Unibanco.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"25\" data-block-id=\"11\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">With less room for interest rate cuts and some economic deceleration already expected in 2027, Castro said portfolios have shifted toward less volatile Brazilian assets.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"7\" data-block-id=\"12\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cThe decision was to reduce portfolio risk.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"52\" data-block-id=\"13\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Ita\u00fa&#8217;s investment division has broadly reduced its exposure to Brazilian equities, exiting domestic cyclical stocks. It had already been favoring foreign equities with currency hedges to neutralize fluctuations in the real. The U.S. S&amp;P 500 index is its main tactical exposure, supplemented by individual shares of companies at the forefront of innovation.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"22\" data-block-id=\"15\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">In fixed income, the adjustments have involved shortening the average maturities of fixed-rate and inflation-linked positions while increasing allocations to floating-rate securities.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"44\" data-block-id=\"16\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Castro noted that global demand for capital has risen in recent years, driven by defense spending and the restructuring of supply chains. He pointed out that the historical average yield differential between Brazilian and U.S. 10-year inflation-linked bonds is close to <strong>500 basis points.<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"45\" data-block-id=\"17\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">With U.S. real interest rates now higher, the relationship implies Brazilian real yields of around 7%. Bringing them back to the 5% to 6% range would require the spread to narrow to approximately <strong>300 to 350 basis points.<\/strong> That, he said, depends on fiscal policy.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"31\" data-block-id=\"18\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cIn a world with a higher cost of capital, unless the country is willing to make a much greater fiscal effort, it will have to live with permanently higher interest rates.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"11\" data-block-id=\"19\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">The consequence would be higher risk premiums across all asset classes.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"40\" data-block-id=\"20\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Castro added that inflation expectations for 2027 have risen, while market pricing now points to stable interest rates or even an increase. The Central Bank&#8217;s Monetary Policy Committee (Copom) meets next week to decide the direction of the Selic rate.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"30\" data-block-id=\"21\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Although market pricing incorporates risk premiums and does not directly forecast monetary policy decisions, it influences expected investment returns across most asset classes, with short-term floating-rate securities a notable exception.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"22\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\"><strong>Fiscal credibility<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"38\" data-block-id=\"23\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Investors had expected a Bolsonaro victory to make fiscal adjustment both more likely and faster, said <strong>Gilberto Kfouri<\/strong>, chief investment officer at BNP Paribas Asset Management. Lula&#8217;s rhetoric, by contrast, had suggested greater reluctance to pursue such measures.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"32\" data-block-id=\"24\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">If the government fails to act with urgency and postpones announcing its economic team and measures to restore some balance to public finances until next year, Brazilian assets will remain under pressure.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"13\" data-block-id=\"25\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cIt needs to announce credible measures to bring interest rates down,\u201d Kfouri said.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"39\" data-block-id=\"27\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">For now, BNP Paribas Asset Management has shortened the average maturities of its interest-rate-sensitive positions. Kfouri noted that the futures market no longer prices in a Selic cut in November, while December contracts already reflect expectations of an increase.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"22\" data-block-id=\"28\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">In equities, the firm has sought to make portfolios more defensive by favoring exporters, whose dollar-denominated revenues benefit from a weaker real.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"2\" data-block-id=\"29\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\"><strong>Potential upside<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"32\" data-block-id=\"30\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\"><strong>Rodrigo Bresser-Pereira<\/strong>, CEO and CIO of Bresser Asset Management, estimates that a decline in Brazilian real interest rates to around <strong>5%<\/strong> could lift the Ibovespa by at least <strong>60%<\/strong> from current levels.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"49\" data-block-id=\"31\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cThat&#8217;s considering only the lower discount rate. If you factor in lower interest rates, the economy&#8217;s average growth rate increases, and the multiple also changes,\u201d he said. \u201cIf you assume Brazil will grow an additional 3% in a year, that would justify a valuation twice as high as today&#8217;s.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"41\" data-block-id=\"32\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Still, Pereira cautioned that investors cannot yet build portfolios around such a scenario. In his view, the government has failed to recognize that its policy of accelerating spending and generating excess demand in the economy ultimately produces extremely high interest rates.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"29\" data-block-id=\"33\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cAbout 80% of the debt is linked to the Selic, including NTN-B bonds,\u201d he said. \u201cAt least R$300 billion is being transferred to rentiers because of these interest rates.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"45\" data-block-id=\"34\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">In managing the firm&#8217;s equity fund, Pereira has favored infrastructure and financial companies. He estimates that public utility concession operators offer prospective total returns of around <strong>12%<\/strong>, compared with approximately <strong>7.5%<\/strong> for NTN-B inflation-linked government bonds. Oil giant Petrobras is also among the fund&#8217;s holdings.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"31\" data-block-id=\"35\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Overseas, he prefers financially solid technology companies. He does not believe their valuations reflect a bubble, arguing that \u201cthere are no signs that these companies themselves will become victims of disruption.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"3\" data-block-id=\"36\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\"><strong>Uncertainty and opportunity<\/strong><\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"31\" data-block-id=\"37\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Fiscal uncertainty and the future direction of economic policy are making it difficult to determine how much risk to take in Brazilian portfolios, said <strong>Guilherme Loureiro<\/strong>, CIO at Monte Bravo Corretora.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"17\" data-block-id=\"39\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cWhen patience runs out, structural issues become embedded in asset prices, and that matters for portfolio construction.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"22\" data-block-id=\"40\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">Loureiro sees the possibility of a market turnaround and substantial asset appreciation, but only if the government adopts a credible fiscal agenda.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"36\" data-block-id=\"41\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cWithout that, structurally high interest rates will weigh on prices and growth,\u201d he said. \u201cThe incentive to act is strong. The world wants Brazil. The country is insulated from conflicts, has commodities, rare earths, clean energy&#8230;\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"19\" data-block-id=\"42\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">He nevertheless worries that a rapid stabilization in financial markets could weaken the government&#8217;s incentive to pursue fiscal adjustments.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"43\" data-block-id=\"43\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">As Brazil&#8217;s economy continues to operate under high interest rates, Monte Bravo is avoiding excessive domestic risk. Loureiro likened the current investment environment to navigating through dense fog, \u201cwhen you pick up binoculars and all you can see is white for miles ahead.\u201d<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"35\" data-block-id=\"44\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">That uncertainty calls for a more defensive approach, with larger cash positions held in highly liquid CDI-linked assets. Loureiro said he has also been avoiding credit investments as economic activity slows and financial conditions tighten.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"9\" data-block-id=\"45\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">In this environment, international diversification makes sense, he argued.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"12\" data-block-id=\"46\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">\u201cInterest rates are also higher overseas, and stocks aren&#8217;t expensive,\u201d Loureiro said.<\/p>\n<\/div>\n<div class=\"mc-column content-text active-extra-styles \" data-block-type=\"unstyled\" data-block-weight=\"19\" data-block-id=\"47\">\n<p class=\" content-text__container \" data-track-category=\"Link no Texto\" data-track-links=\"\">He added that this type of diversification currently offers potential returns of around <strong>8% to 9%<\/strong> in U.S. dollars.<\/p>\n<p data-track-category=\"Link no Texto\" data-track-links=\"\">*By\u00a0Adriana Cotias\u00a0\u2014 S\u00e3o Paulo<\/p>\n<p data-track-category=\"Link no Texto\" data-track-links=\"\">Source: Valor International<\/p>\n<p>https:\/\/valorinternational.globo.com\/<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Post-election turmoil drives losses across stocks and bonds, prompting portfolio managers to favor CDI-linked investments and overseas equities &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 10\/30\/2026\u00a0 Gilberto Kfouri \u2014 Photo: Foto: Gabriel Reis\/Valor October is ending with heavy losses across Brazilian assets, from equities to fixed-rate and inflation-linked bonds. Amid the market turmoil following the presidential election, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[27223],"class_list":["post-100434","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-brazilian-assets-slide-amid-investor-flight-to-safer-bets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Brazilian assets slide amid investor flight to safer bets - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/brazilian-assets-slide-amid-investor-flight-to-safer-bets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brazilian assets slide amid investor flight to safer bets - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Post-election turmoil drives losses across stocks and bonds, prompting portfolio managers to favor CDI-linked investments and overseas equities &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 10\/30\/2026\u00a0 Gilberto Kfouri \u2014 Photo: Foto: Gabriel Reis\/Valor October is ending with heavy losses across Brazilian assets, from equities to fixed-rate and inflation-linked bonds. 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