BTG Pactual Forecasts 30% Drop in Ibovespa in Dollars, Real Depreciation

BTG Pactual projects a 17% drop in the Ibovespa to 170,000 points and a 10-15% depreciation of the Brazilian real, leading to a 30% decline in dollar terms for foreign investors. The forecast follows the first round of elections and signals a selloff of Brazilian assets in the coming weeks. This is a major bearish call on Brazilian equities and currency, reflecting heightened political and economic uncertainty.

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