- "It's a coup," says the now-suspended president after the country's Senate voted to begin an impeachment trial against her. "My government was the target of nonstop sabotage ... The objective was to stop me from governing and therefore allow an environment inviting the coup."
- Having bought up Brazilian shares for months in the run-up to Rousseff's exit, investors are selling the actual news, with the Bovespa lower by 3.3% today.
- Don't chase the rally, says Calamos fund manager Nick Niziolek. "There's a lot of work to do," he says, noting the new administration needs to tackle spending, but more than 90% of expenditures are mandatory. "In order to solve their fiscal deficit and cut costs, they would have to go back and rewrite the constitution."
- He prefers Mexico, even though its commodity exposure means it faces many of the same issues Brazil does. What Mexico also has though is strong ties to the U.S. - where 80% of the country's exports go.
- ETFs: EWZ, EWW, MXF, BRF, BRZU, EWZS, BZQ, BRAQ, MXE, BRAZ, UBR, DBBR, UMX, DBMX, FBZ, SMK, QMEX, HEWW