# Bolsonaro struggles to sell Brazil pension bill as markets tumble

> Brazilian financial assets fell sharply as the real dropped 2.3% to 3.9531 per dollar, a near six-month low, and the Bovespa slid about 3.5%. Investors worried that delays to President Bolsonaro's pension reform could force the central bank to raise rates, and interest rate futures priced in a hike within a year. The central bank announced a $1 billion spot dollar sale to slow the currency slide.

- Date: 2019-03-28 · published 2019-03-28T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/60305-bolsonaro-struggles-to-sell-brazil-pension-bill-as-markets-tumble
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A weaker real makes Brazilian soybeans, corn and meal cheaper for export buyers, which tends to pressure US and global prices of these commodities. Rising Brazilian rates would also raise financing costs for the feed and livestock sector.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-09-08 | [Bolsonaro rallies base but turns off allies and markets](https://feedsoft.ai/events/45289-bolsonaro-rallies-base-but-turns-off-allies-and-markets.md) | +1.1% | +5.7% |
| USDBRL | 2025-06-26 | [Political tension over financial tax bill weighs on Brazilian markets](https://feedsoft.ai/events/24423-political-tension-over-financial-tax-bill-weighs-on-brazilian-markets.md) | -2.3% | -0.7% |
| USDBRL | 2022-11-22 | [Bolsonaro challenges Brazil election he lost to Lula](https://feedsoft.ai/events/38889-bolsonaro-challenges-brazil-election-he-lost-to-lula.md) | -0.7% | -2.5% |
| USDBRL | 2020-03-12 | [Brazil ups FX intervention, pledges to ease bond market strains](https://feedsoft.ai/events/6394-brazil-ups-fx-intervention-pledges-to-ease-bond-market-strains.md) | +9.2% | +10.4% |
| USDBRL | 2026-05-13 | [Brazil markets rattled by report linking Flavio Bolsonaro to disgraced banker \| Reuters](https://feedsoft.ai/events/19462-brazil-markets-rattled-by-report-linking-flavio-bolsonaro-to-disgraced-banker.md) | +2.9% | +5.6% |
| SOY | 2018-10-08 | [Brazil's real, stocks rally on Bolsonaro win](https://feedsoft.ai/events/7665-brazil-s-real-stocks-rally-on-bolsonaro-win.md) | -0.2% | +0.7% |
| SOY | 2024-06-25 | [Lula’s spending plans turn heat on Brazilian markets](https://feedsoft.ai/events/29989-lula-s-spending-plans-turn-heat-on-brazilian-markets.md) | -1.3% | -4.9% |
| SOY | 2022-04-25 | [Brazilian real tumbles amid rallying dollar and local tensions](https://feedsoft.ai/events/6864-brazilian-real-tumbles-amid-rallying-dollar-and-local-tensions.md) | -0.5% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/article/us-brazil-politics-pensions/bolsonaro-struggles-to-sell-brazil-pension-bill-as-markets-tumble-idUSKCN1R82NS/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.