U.S. Markets closed

The future of Brazilian stocks hinges on two words: Pension reform

Fred Imbert

Brazil's benchmark stock index reached an all-time high earlier this month and is up 8.6 percent for the year. Investors in Brazil and across the world are betting that President Jair Bolsonaro will push through key changes to the social security system in Latin America's largest economy. The stakes are high for pension reform in Brazil because an improvement could boost the country's flagging economy and give it some stability.