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Brazil Acting President Hailed by Many But Hands May Be Tied

  • Michel Temer, who was Rousseff’s vice president, now in charge
  • He is market-focused but has limited belt-tightening options
Bloomberg business news

Ferro: Brazil to Struggle, but With Positive Outlook

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To many investors, he seems to be riding in on a white steed, a seasoned insider who will turn around an economy of epic failure and enormous potential.

Michel Temer has been the number two to President Dilma Rousseff of Brazil and now, with her temporary ouster, takes charge, buoyed by an almost evangelical market faith in him, as seen by the real’s spike -- the world’s best-performing currency this year -- and bond yield’s plunge. It is widely expected that Rousseff will not return to power.