
As the synchronized decline in interest rates in the United States and Brazil tends to boost the Ibovespa in 2026, doubts surrounding the combination of policy advice elements are expected to increase the level of uncertainty in the local stock market and keep the index’s median estimate more conservative. Strategists and analysts heard by the Value says that next year could be marked by a greater difference between projections for the Brazilian stock market, with pessimistic and optimistic outlooks varying depending on the progress of the electoral conflict.