Lula faces a fiscal reckoning after Brazil’s market rout
Concerns about management of economy trigger worst day for currency in more than 25 years
Source: Financial Times
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DW NOTE
Brazil's currency just posted its worst single-day loss in over a quarter-century — not because of external shock, but because markets have stopped pretending Lula's fiscal promises mean anything. When your own investors flee domestic assets while oil trades above $100 and global growth remains positive, the problem isn't the market's irrationality.