A Datafolha survey published July 2 showed that 38 percent of Brazilians would vote for her in the October election, down from 44 percent in February. Aecio Neves of the Brazilian Social Democracy Party, or PSDB, had 20 percent support.

While it’s hard to gauge the impact on the elections, the mood will probably turn against the government and reinforce “the political trade” that has been moving Brazilian stocks, according to ING’s Conrads.
“Inflation is high, growth is slow,” Conrads said. “People want change in Brazil, and you see that in the stock market.”
 

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