Brazil jacks up interest rates to 21%

Michael Pollak mpollak at panix.com
Mon Oct 14 16:00:39 PDT 2002


On Mon, 14 Oct 2002, Reuters was quoted as saying:


> Adding to the market jitters were two new opinion polls showing
> presidential candidate Lula, a former union leader who still spooks
> investors for past talk of debt restructuring, with a commanding lead
> over market favorite Serra.

I don't understand why this keeps being reported as developing news, as if a lot of reasonable people are hoping for it to change and Serra to make a late surge. Lula won 49% of the 1st round vote, and most of the other parties endorsed him. Why would anyone think for a moment that he's not going to get the remaining 1% plus?

Michael



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