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While Usain Bolt, Kohei Uchimura and Michael Phelps have confirmed their legendary stature, Dilma Rousseff experiences a descent into hell itself. On the 9th of August, the Senate voted 59 to 21 to indict Dilma Rousseff accused of breaking the budget law in 2014.
By the end of the month, Lula’s political heiress may be definitively removed from office. Michel Temer, her Vice-president and now interim President, took over since last May when Ms. Rousseff got suspended. Since then, the Brazilian Real kept rallying, gaining almost 10% against the dollar. Our two fixed income fund managers, Jean-Philippe Donge and Dieter Hein, share their impression below.
