The constant crises and lack of political skill of Jair Bolsonaro's government led the Brazilian Financial Market to re-evaluate and recalculate the risks of the current administration.
A study made by SmartBrain on Brazilian multimarket funds, covering the period of the new government, indicated that multimarket funds began the year very optimistic with a possible liberal policy and reduction of the state sold during the political campaign by then-candidate Jair Bolsonaro.
The oscillation and the altercations between the Executive Power and the Legislative Power in Brazil led the funds to lose money. Only 28% of the funds had positive returns in the first months of the Bolsonaro administration.
As nothing indicates any change in the directions of inflation and as promises and expectations about the new government did not occur, the funds that stood for economic growth ended up losing money.
A turmoil in the political scene made the funds change to dólar. Therefore, the funds that were betting on the "kit Brazil" (appreciation of the Brazilian currency, investment in the Stock Exchange and the fall of the Brazilian interest rate) lost money.
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