Protestors demanding Temer impeachment torch building in Brasilia; markets don’t react–so far

Protestors demanding Temer impeachment torch building in Brasilia; markets don’t react–so far

Tens of thousands of demonstrators demanding the impeachment or resignation of President Michel Temer fought with police in Brasilia today. Protestors set fire to the Ministry of Agriculture. Remarkably the Brazilian real fell just 0.16% against the U.S. dollar. And the iShares MSCI Brazil Capped ETF (EWZ) actually gained 1.09% in the official session. I’m not quite sure what the degree of calm argues.