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Wednesday, May 6, 2026

COLUMN- Is Brazil another BRIC in the wall? :Mike Dolan - Yahoo Finance

By Mike Dolan

LONDON, Jan 11 (Reuters) - Almost as surprising as the weekend's shock events in Brasilia was how little world markets appeared to react - showing investors may already be braced for an era of more volatile geopolitics after 2022's tensions over Russia and China.

And yet just a year after most markets dismissed the chances of a full-scale Russian invasion of Ukraine, despite Moscow massing troops on the border for several weeks and despite the severity of the subsequent economic fallout around the world, it is still odd to see another significant political tail risk almost ignored.

To be sure, some downplay the events as a shock per se. Many voices in Brazil reckon Sunday's storming of the presidential palace, Congress and Supreme Court by thousands of supporters of former far-right President Jair Bolsonaro was no real surprise at all - and it merely underlined the country's deep divisions.

Bolsonaro, seen an acolyte of ex-U.S. President Donald Trump, has yet to concede defeat in October's elections and has made false claims that Brazil's electronic voting system was prone to fraud, spawning a violent movement of election deniers.

The attack on government buildings came just days after the inauguration of leftist Luiz Inacio Lula Da Silva, the victor in October's tight election.

Lula appears to have restored order to the capital amid thousands of arrests. And critically, for a country that ended two decades of military rules only as recently as 1985, the army...



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