Brazil bonds rally on Lula arrest

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Brazil bonds rally on Lula arrest

Oliver West
March 07, 2016 06:30 AM
Brazil, Dilma Rousseff
Brazil's President and presidential candidate of the Workers Party Dilma Rousseff addresses a rally in Brasilia Oct. 26, 2014. Dilma Rousseff was reelected on Sunday, official results showed. Rousseff garnered 51.52 percent of the votes while her rival Aecio Neves of the Social Democrat Party got 48.48 percent as 99 percent of the ballots were counted, the Supreme Electoral Court said. (Xinhua/AGENCIA ESTADO) (vf) (ah) ***BRAZIL OUT*** XINHUA /LANDOV | [E]AE/LANDOV/Press Association Images

The arrest of former Brazilian president Lula da Silva gave new urgency to a strong rally in Brazilian bonds on Friday after the market appeared to take the detention as a sign that president Dilma Rousseff was closer to impeachment.

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Oliver West
US Bureau Chief - Latin America Editor
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