Brazil

Corruption and austerity will drive protests and governability worries

Market expectations are on a downward trend as unemployment and austerity mute growth prospects

The oil company's heavy Q3 losses and further corruption claims undermine hopes for fragile recovery

Brazil's economy may be more insulated from the 'Trump effect' than Mexico's, but domestic demand will stay muted

Growth forecasts are again deteriorating while the political impact of Petrobras continues to spread

The Workers' Party can sustain little further damage, but other parties face more difficulties

While the sector is recovering, manufacturers are confronted with political, demographic and technological disruptions

Local wins for conservatives and small parties point to a more divided congress and a Social Democrat candidate for 2018