This event by itself has little long term impact on stock market, but shows more political turmoil. It seems to me EM and commodity stocks wants any excuse to rally. Brazil investors latched on to this as a relief to years of corruption at the top.
Notice nat gas prices is still decling yet FCG (in Black) jumped even more than EWZ in Green) ?
It’s beginning to dawn on me that the senseless selling since around Xmas has been partially or mostly reversed, thanks to some better than expected jobs and PMI data.