<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[TradeNews: [Weekly Tradenews]]]></title><description><![CDATA[Todo domingo, uma newsletter com sugestões de leituras, calendário e memes pra você comecar a semana.]]></description><link>https://www.tradenews.com.br/s/weekly-tradenews</link><image><url>https://substackcdn.com/image/fetch/$s_!IZ8Z!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6e3fcd3-0cf5-4e1f-a8bc-931992edd347_582x582.png</url><title>TradeNews: [Weekly Tradenews]</title><link>https://www.tradenews.com.br/s/weekly-tradenews</link></image><generator>Substack</generator><lastBuildDate>Wed, 30 Sep 2026 22:55:48 GMT</lastBuildDate><atom:link href="https://www.tradenews.com.br/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Beto Saadia]]></copyright><language><![CDATA[pt-br]]></language><webMaster><![CDATA[tradenews@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[tradenews@substack.com]]></itunes:email><itunes:name><![CDATA[Beto Saadia]]></itunes:name></itunes:owner><itunes:author><![CDATA[Beto Saadia]]></itunes:author><googleplay:owner><![CDATA[tradenews@substack.com]]></googleplay:owner><googleplay:email><![CDATA[tradenews@substack.com]]></googleplay:email><googleplay:author><![CDATA[Beto Saadia]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[Governo regulamenta as bets para fechar a conta e agora revoga para se eleger]]></title><description><![CDATA[E mais. Relat&#243;rios, Leituras e Memes]]></description><link>https://www.tradenews.com.br/p/governo-regulamenta-as-bets-para</link><guid isPermaLink="false">https://www.tradenews.com.br/p/governo-regulamenta-as-bets-para</guid><dc:creator><![CDATA[Beto Saadia]]></dc:creator><pubDate>Sun, 27 Sep 2026 11:40:56 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!m9o9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Perspectivas da Semana</span></h1><p><strong><span data-color="#ff0000" style="color: rgb(255, 0, 0);">Estados Unidos</span></strong></p><p>A semana ter&#225; payroll de setembro, revis&#227;o anual do PIB e PCE, e uma bateria de indicadores de atividade de agosto. Esperamos cria&#231;&#227;o de 100 mil vagas l&#237;quidas e desemprego est&#225;vel em 4,1%, com risco de recuo para 4,0%. </p><p>O mercado j&#225; precifica cerca de dois ter&#231;os de chance de alta de juros em outubro, movimento que ganhou for&#231;a ap&#243;s uma sequ&#234;ncia de falas hawkish de dirigentes do Fed e PMIs no maior n&#237;vel desde 2021. </p><p>Para a semana &#224; frente, o gatilho mais prov&#225;vel para uma alta em outubro seria a combina&#231;&#227;o de payroll forte com dado de infla&#231;&#227;o de agosto tamb&#233;m elevado, ainda que a maioria dos membros do comit&#234; pare&#231;a inclinada a esperar mais dados antes de decidir a alta em outubro ou dezembro.</p><p><strong><span data-color="#00ff00" style="color: rgb(0, 255, 0);">Brasil</span></strong></p><p>Falta uma semana para o primeiro turno, no domingo, dia 4 de outubro. </p><p>A semana deve trazer mais ru&#237;do dos dois lados, incluindo os desdobramentos das medidas de Lula sobre endividamento das fam&#237;lias e apostas online, e da resposta de Flavio sobre d&#237;vida p&#250;blica e cassinos digitais.</p><p></p><p>No campo monet&#225;rio, a comunica&#231;&#227;o do Banco Central mant&#233;m viva a possibilidade de mais cortes, sobretudo se as surpresas baixistas de infla&#231;&#227;o vierem acompanhadas de um real mais forte.</p><p></p><p>O primeiro teste vio no IPCA15 de setembro que surpreendeu para cima, subindo 0,70% no m&#234;s, acima da nossa proje&#231;&#227;o e do consenso. </p><p></p><p>O n&#250;cleo m&#233;dio acelerou e o n&#250;cleo de servi&#231;os segue rodando em patamar elevado na medida trimestral anualizada, sinalizando que a desinfla&#231;&#227;o de servi&#231;os ainda est&#225; incompleta, ainda que os n&#250;cleos de bens industriais sigam ajudando. </p><p></p><p>Para as pr&#243;ximas semanas, o ponto de aten&#231;&#227;o passa a ser se essa repique inflacion&#225;rio do IPCA15 se confirma nos dados de outubro, o que refor&#231;aria a leitura de cautela do Banco Central.</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. </p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Calend&#225;rio da Semana</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!fr7P!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff664b828-0cd9-4167-8645-e6b4f152b1cd_1542x430.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!fr7P!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff664b828-0cd9-4167-8645-e6b4f152b1cd_1542x430.png 424w, https://substackcdn.com/image/fetch/$s_!fr7P!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff664b828-0cd9-4167-8645-e6b4f152b1cd_1542x430.png 848w, https://substackcdn.com/image/fetch/$s_!fr7P!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff664b828-0cd9-4167-8645-e6b4f152b1cd_1542x430.png 1272w, https://substackcdn.com/image/fetch/$s_!fr7P!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff664b828-0cd9-4167-8645-e6b4f152b1cd_1542x430.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!fr7P!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff664b828-0cd9-4167-8645-e6b4f152b1cd_1542x430.png" width="1456" height="406" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div><hr></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. Inscreva-se</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Rentabilidade das principais classes</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!m9o9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!m9o9!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 424w, https://substackcdn.com/image/fetch/$s_!m9o9!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 848w, https://substackcdn.com/image/fetch/$s_!m9o9!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 1272w, https://substackcdn.com/image/fetch/$s_!m9o9!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 1456w" sizes="100vw"><img 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srcset="https://substackcdn.com/image/fetch/$s_!m9o9!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 424w, https://substackcdn.com/image/fetch/$s_!m9o9!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 848w, https://substackcdn.com/image/fetch/$s_!m9o9!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 1272w, https://substackcdn.com/image/fetch/$s_!m9o9!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd77d2d80-1a19-4030-a05c-7f768cff731d_1187x670.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p></p><h1><a href="https://fluxo-estrangeiro-b3.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Fluxo de capital estrangeiro B3</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Bn_3!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Bn_3!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 424w, https://substackcdn.com/image/fetch/$s_!Bn_3!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 848w, https://substackcdn.com/image/fetch/$s_!Bn_3!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 1272w, https://substackcdn.com/image/fetch/$s_!Bn_3!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Bn_3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png" width="1456" height="676" 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srcset="https://substackcdn.com/image/fetch/$s_!Bn_3!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 424w, https://substackcdn.com/image/fetch/$s_!Bn_3!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 848w, https://substackcdn.com/image/fetch/$s_!Bn_3!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 1272w, https://substackcdn.com/image/fetch/$s_!Bn_3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3a095b2d-2dfe-4219-8f0b-81d0b7d046ad_1881x873.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><a href="https://agregador-eleitoral.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">AGREGADOR ELEITORAL</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!DPfx!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!DPfx!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 424w, https://substackcdn.com/image/fetch/$s_!DPfx!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 848w, https://substackcdn.com/image/fetch/$s_!DPfx!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 1272w, https://substackcdn.com/image/fetch/$s_!DPfx!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!DPfx!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png" width="1153" height="768" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/51d55302-4653-4a65-9484-4e92f377de12_1153x768.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:768,&quot;width&quot;:1153,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:93829,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/216895190?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!DPfx!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 424w, https://substackcdn.com/image/fetch/$s_!DPfx!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 848w, https://substackcdn.com/image/fetch/$s_!DPfx!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 1272w, https://substackcdn.com/image/fetch/$s_!DPfx!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F51d55302-4653-4a65-9484-4e92f377de12_1153x768.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">De olho nos gr&#225;ficos</span></h1><p></p><div id="youtube2-u6OR5znTbIA" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;u6OR5znTbIA&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/u6OR5znTbIA?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div id="youtube2-u6OR5znTbIA" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;u6OR5znTbIA&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/u6OR5znTbIA?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div id="youtube2-TUos2bVYC5s" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;TUos2bVYC5s&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/TUos2bVYC5s?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Conte&#250;dos que prestam</span></h1><div id="youtube2-Dp15F8vKniA" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;Dp15F8vKniA&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/Dp15F8vKniA?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div class="captioned-image-container"><figure><a class="image-link image2" target="_blank" href="https://blogdoibre.fgv.br/posts/consideracoes-tecnicas-sobre-proposta-24" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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loading="lazy"></picture><div></div></div></a></figure></div><p></p><div id="youtube2-Ucxgs7iI7EU" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;Ucxgs7iI7EU&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/Ucxgs7iI7EU?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p></p><div id="youtube2-UU_L0AfJeVU" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;UU_L0AfJeVU&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/UU_L0AfJeVU?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2" target="_blank" href="https://www.estadao.com.br/tecmundo/frankito-o-curioso/pesquisas-mentem-saiba-o-que-esta-por-tras-dos-numeros-triturando-dados-1/?utm_source=threads:newsfeed&amp;utm_medium=social-organic&amp;utm_campaign=redes-sociais:092026:e&amp;utm_content=:::&amp;utm_term=" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!QO8l!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 424w, https://substackcdn.com/image/fetch/$s_!QO8l!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 848w, https://substackcdn.com/image/fetch/$s_!QO8l!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 1272w, https://substackcdn.com/image/fetch/$s_!QO8l!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!QO8l!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png" width="640" height="213" 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class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!QO8l!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 424w, https://substackcdn.com/image/fetch/$s_!QO8l!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 848w, https://substackcdn.com/image/fetch/$s_!QO8l!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 1272w, https://substackcdn.com/image/fetch/$s_!QO8l!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F71fdba8f-eee7-413e-b51b-5152214a6a8f_640x213.png 1456w" sizes="100vw" loading="lazy"></picture><div></div></div></a></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://www.brookfield.com/views-news/insights/howard-marks-memo-september-2026" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!edZu!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 424w, https://substackcdn.com/image/fetch/$s_!edZu!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 848w, https://substackcdn.com/image/fetch/$s_!edZu!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 1272w, https://substackcdn.com/image/fetch/$s_!edZu!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!edZu!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png" width="1028" height="588" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/db6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:588,&quot;width&quot;:1028,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:92367,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:&quot;https://www.brookfield.com/views-news/insights/howard-marks-memo-september-2026&quot;,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/216895190?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!edZu!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 424w, https://substackcdn.com/image/fetch/$s_!edZu!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 848w, https://substackcdn.com/image/fetch/$s_!edZu!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 1272w, https://substackcdn.com/image/fetch/$s_!edZu!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb6a0e87-09cf-4d00-a185-1f49094f2e64_1028x588.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">MEMOLOGY</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!XGki!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!XGki!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 424w, https://substackcdn.com/image/fetch/$s_!XGki!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 848w, https://substackcdn.com/image/fetch/$s_!XGki!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!XGki!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 1456w" sizes="100vw"><img 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srcset="https://substackcdn.com/image/fetch/$s_!XGki!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 424w, https://substackcdn.com/image/fetch/$s_!XGki!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 848w, https://substackcdn.com/image/fetch/$s_!XGki!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!XGki!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fceb166ec-dbac-449f-a486-ab9c2a9d6aef_2060x2048.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div 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height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!_8ZK!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1c375258-f734-4f14-b8d9-9c28bf985fe0_500x667.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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srcset="https://substackcdn.com/image/fetch/$s_!_8ZK!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1c375258-f734-4f14-b8d9-9c28bf985fe0_500x667.jpeg 424w, https://substackcdn.com/image/fetch/$s_!_8ZK!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1c375258-f734-4f14-b8d9-9c28bf985fe0_500x667.jpeg 848w, https://substackcdn.com/image/fetch/$s_!_8ZK!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1c375258-f734-4f14-b8d9-9c28bf985fe0_500x667.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!_8ZK!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1c375258-f734-4f14-b8d9-9c28bf985fe0_500x667.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div 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Relat&#243;rios, Leituras e Memes]]></description><link>https://www.tradenews.com.br/p/o-mercado-digere-o-reajuste-do-bolsa</link><guid isPermaLink="false">https://www.tradenews.com.br/p/o-mercado-digere-o-reajuste-do-bolsa</guid><dc:creator><![CDATA[Beto Saadia]]></dc:creator><pubDate>Sun, 20 Sep 2026 12:03:29 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!_JGF!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5715a588-3ebe-4402-87c1-77bed27474f4_1187x662.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Perspectivas da Semana</span></h1><p>Nos EUA, os holofotes se voltar&#227;o para o encontro entre as lideran&#231;as americana e chinesa. O mercado buscar&#225; pistas sobre a pol&#237;tica comercial americana em rela&#231;&#227;o &#224; China, mas o recado provavelmente ser&#225; de continuidade, com pouca mudan&#231;a pr&#225;tica.</p><p>Vale ficar de olho nos PMIs de setembro (quarta-feira), que devem confirmar a acelera&#231;&#227;o da atividade americana. O dado pode refor&#231;ar a percep&#231;&#227;o de um Fed mais hawkish. Se a atividade continuar forte e o consumo n&#227;o der sinais de fadiga, aumentar&#225; o espa&#231;o para uma postura mais dura de juros em dezembro.</p><p>No Brasil, ser&#225; dif&#237;cil desviar o olhar para outros temas pol&#237;tico e fiscal. O mercado ainda digere as implica&#231;&#245;es do an&#250;ncio sobre o Bolsa Fam&#237;lia na trajet&#243;ria fiscal, enquanto h&#225; sinaliza&#231;&#245;es de novas medidas, como uma poss&#237;vel amplia&#231;&#227;o do teto do MEI.</p><p>O pacote de est&#237;mulos eleitorais pode piorar a percep&#231;&#227;o fiscal e contaminar o recente otimismo trazido pelos cortes de juros.</p><p>A ata do Copom sai na ter&#231;a-feira e n&#227;o deve trazer novidades, deixando a porta para a continuidade dos cortes. N&#227;o dever&#225; tamb&#233;m mencionar o recente reajuste do Bolsa Fam&#237;lia j&#225; que a medida foi anunciada ap&#243;s a decis&#227;o do Copom.</p><p>O IPCA-15 de setembro (sexta-feira) deve mostrar acelera&#231;&#227;o no n&#250;cleo, puxada por tarifas de energia e cigarros, mas ainda abaixo do teto da meta pela terceira vez seguida. Isso deve refor&#231;ar a leitura de que o Copom tem espa&#231;o para seguir cortando.</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. </p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Calend&#225;rio da Semana</span></h1><div class="captioned-image-container"><figure><a class="image-link 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Inscreva-se</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Rentabilidade das principais classes</span></h1><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!_JGF!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5715a588-3ebe-4402-87c1-77bed27474f4_1187x662.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><a href="https://fluxo-estrangeiro-b3.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Fluxo de capital estrangeiro B3</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!_NhY!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F86ed3698-86cb-4ccd-9b45-8dce00e097d5_1023x925.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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src="https://substackcdn.com/image/fetch/$s_!_NhY!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F86ed3698-86cb-4ccd-9b45-8dce00e097d5_1023x925.png" width="1023" height="925" 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srcset="https://substackcdn.com/image/fetch/$s_!_NhY!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F86ed3698-86cb-4ccd-9b45-8dce00e097d5_1023x925.png 424w, https://substackcdn.com/image/fetch/$s_!_NhY!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F86ed3698-86cb-4ccd-9b45-8dce00e097d5_1023x925.png 848w, https://substackcdn.com/image/fetch/$s_!_NhY!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F86ed3698-86cb-4ccd-9b45-8dce00e097d5_1023x925.png 1272w, https://substackcdn.com/image/fetch/$s_!_NhY!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F86ed3698-86cb-4ccd-9b45-8dce00e097d5_1023x925.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><a href="https://agregador-eleitoral.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">AGREGADOR ELEITORAL</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!_aL8!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!_aL8!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 424w, https://substackcdn.com/image/fetch/$s_!_aL8!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 848w, https://substackcdn.com/image/fetch/$s_!_aL8!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 1272w, https://substackcdn.com/image/fetch/$s_!_aL8!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!_aL8!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png" width="740" height="628" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/f8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:628,&quot;width&quot;:740,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:70590,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/215977054?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!_aL8!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 424w, https://substackcdn.com/image/fetch/$s_!_aL8!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 848w, https://substackcdn.com/image/fetch/$s_!_aL8!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 1272w, https://substackcdn.com/image/fetch/$s_!_aL8!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff8ef2d36-4646-45da-8bc5-3f516c38742a_740x628.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">De olho nos gr&#225;ficos</span></h1><div id="youtube2-VXLl_eRuFks" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;VXLl_eRuFks&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/VXLl_eRuFks?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div id="youtube2-pd6AeSADUoY" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;pd6AeSADUoY&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/pd6AeSADUoY?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Conte&#250;dos que prestam</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://www.kinea.com.br/blog/kinea-insights-bolsa-brasileira-juros-valuation/?utm_origem=topo&amp;utm_source=sfmc&amp;utm_medium=email&amp;utm_campaign=Insights+-+Set+2026&amp;utm_id=1387666&amp;sfmc_id=114339510" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!02NM!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3b13998d-d0db-4049-bbbc-adf968f7b66e_588x393.png 424w, https://substackcdn.com/image/fetch/$s_!02NM!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3b13998d-d0db-4049-bbbc-adf968f7b66e_588x393.png 848w, https://substackcdn.com/image/fetch/$s_!02NM!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3b13998d-d0db-4049-bbbc-adf968f7b66e_588x393.png 1272w, https://substackcdn.com/image/fetch/$s_!02NM!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3b13998d-d0db-4049-bbbc-adf968f7b66e_588x393.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!02NM!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F3b13998d-d0db-4049-bbbc-adf968f7b66e_588x393.png" width="588" height="393" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://clubedospoupadores.com/educacao-financeira/pobreza-de-luxo.html#google_vignette" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ryNp!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9c776c81-a375-43d5-8199-4c264c1a4873_902x630.png 424w, 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div id="youtube2-cq2ZF8nv-ik" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;cq2ZF8nv-ik&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/cq2ZF8nv-ik?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p></p><div id="youtube2-sNe1ZsODZpQ" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;sNe1ZsODZpQ&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/sNe1ZsODZpQ?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://www.persevera.com.br/post/o-brasil-n%C3%A3o-pretende-reeleger-lula" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ivsq!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F55e840d0-c272-42b3-956f-fa2bfbbf1dd2_776x512.png 424w, 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">MEMOLOGY</span></h1><p>Nova fantasia de Haloween</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!EgFF!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7501996c-d8dc-403b-9b69-219470d54d6c_1026x1298.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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Relat&#243;rios, Leituras e Memes]]></description><link>https://www.tradenews.com.br/p/brasil-cortara-juros-na-contramao</link><guid isPermaLink="false">https://www.tradenews.com.br/p/brasil-cortara-juros-na-contramao</guid><dc:creator><![CDATA[Beto Saadia]]></dc:creator><pubDate>Sun, 13 Sep 2026 12:09:36 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!xHNh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><h1>Saiu o Estrat&#233;gia Nomos - Setembro</h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://bit.ly/4kqANwq" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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srcset="https://substackcdn.com/image/fetch/$s_!rK5N!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9f7f3079-b198-4615-b2b6-6dc4341ad218_635x767.png 424w, https://substackcdn.com/image/fetch/$s_!rK5N!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9f7f3079-b198-4615-b2b6-6dc4341ad218_635x767.png 848w, https://substackcdn.com/image/fetch/$s_!rK5N!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9f7f3079-b198-4615-b2b6-6dc4341ad218_635x767.png 1272w, https://substackcdn.com/image/fetch/$s_!rK5N!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9f7f3079-b198-4615-b2b6-6dc4341ad218_635x767.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Perspectivas da Semana</span></h1><p>A semana come&#231;a com decis&#245;es previs&#237;veis, mas pode terminar com mudan&#231;as importantes nas expectativas para juros, infla&#231;&#227;o e atividade no Brasil e nos Estados Unidos.</p><p>Brasil primeiro. O Copom vai cortar 25 pontos, levando a Selic a 13,75%. Isso ningu&#233;m discute, raz&#227;o pela qual essa n&#227;o &#233; a not&#237;cia da semana. O mercado precifica mais cortes no quarto trimestre, mas alguns poucos analistas apontam para uma pausa em 13,75% at&#233; 2027. Se essa minoria acertar, h&#225; uma boa aposta <em>contrarian</em> a&#237;, sobre o erro do consenso quanto ao tamanho do ciclo.</p><p>Os dados divulgados na semana refor&#231;aram a desacelera&#231;&#227;o. Os servi&#231;os ficaram estagnados em julho, segundo a PMS (Pesquisa Mensal de Servi&#231;os). O IPCA de agosto veio comportado, impactado por fatores tempor&#225;rios, como a tarifa de energia e os alimentos, enquanto o n&#250;cleo desacelerou para 4,1% na m&#233;dia m&#243;vel trimestral. O c&#226;mbio continuou se apreciando. Tudo isso sustenta a leitura <em>dovish</em> agora, mas setembro e o quarto trimestre podem ser mais duros, com o El Ni&#241;o pressionando os pre&#231;os dom&#233;sticos, o petr&#243;leo mais caro e os juros globais em alta.</p><p>Na pol&#237;tica, o que deve dominar &#233; Fl&#225;vio Bolsonaro empatando ou liderando Lula em simula&#231;&#245;es de segundo turno, com a aprova&#231;&#227;o do presidente caindo mais forte. Junte a isso o caos institucional no STF faltando poucas semanas para o primeiro turno em 4 de outubro.</p><p>Nos EUA, o destaque da semana &#233; o Fed. O CPI veio firme o bastante para tornar mais prov&#225;vel uma alta de 25 pontos em setembro, e a leitura agora &#233; de duas altas neste ano, uma em setembro e outra em dezembro, contrariando a proje&#231;&#227;o recente de pausa. Warsh, em Jackson Hole, colocou o combate &#224; infla&#231;&#227;o como foco predominante, e isso sustenta a mudan&#231;a de opini&#227;o. O mercado estava posicionado para um corte e vai se deparar com um Fed voltando a apertar.</p><p>Fora a decis&#227;o do Fed, ser&#225; divulgado os dados de varejo de agosto, com consenso de alta de 0,9% no m&#234;s. Refor&#231;a a ideia de consumidor americano resiliente mesmo com juros mais altos no horizonte.</p><p>Petr&#243;leo tamb&#233;m vai ser destaque porque subiu cerca de 25 d&#243;lares por barril desde o in&#237;cio de agosto, com ataques Iranianos contra navios americanos e dos houthis a oleoduto saudita. O diesel j&#225; bate recorde nos EUA.</p><p>&#201; a habita&#231;&#227;o americana que segue sendo a v&#237;tima do aperto monet&#225;rio. Vendas de im&#243;veis usados ca&#237;ram pelo terceiro m&#234;s seguido, hipotecas em torno de 6,8% e estoque dispon&#237;vel subindo.</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. </p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Calend&#225;rio da Semana</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!kCIw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!kCIw!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 424w, https://substackcdn.com/image/fetch/$s_!kCIw!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 848w, https://substackcdn.com/image/fetch/$s_!kCIw!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 1272w, https://substackcdn.com/image/fetch/$s_!kCIw!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!kCIw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png" width="1456" height="406" 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srcset="https://substackcdn.com/image/fetch/$s_!kCIw!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 424w, https://substackcdn.com/image/fetch/$s_!kCIw!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 848w, https://substackcdn.com/image/fetch/$s_!kCIw!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 1272w, https://substackcdn.com/image/fetch/$s_!kCIw!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F76f4711e-698d-4e1a-9f0a-0c41c3271caf_1707x476.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p></p><div><hr></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. Inscreva-se</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Rentabilidade das principais classes</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!xHNh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!xHNh!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 424w, https://substackcdn.com/image/fetch/$s_!xHNh!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 848w, https://substackcdn.com/image/fetch/$s_!xHNh!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 1272w, https://substackcdn.com/image/fetch/$s_!xHNh!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!xHNh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png" width="1456" height="821" 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srcset="https://substackcdn.com/image/fetch/$s_!xHNh!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 424w, https://substackcdn.com/image/fetch/$s_!xHNh!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 848w, https://substackcdn.com/image/fetch/$s_!xHNh!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 1272w, https://substackcdn.com/image/fetch/$s_!xHNh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F62260615-2423-444f-8a37-e7ac6ec28e2d_1486x838.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><h1><a href="https://fluxo-estrangeiro-b3.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Fluxo de capital estrangeiro B3</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!M-jL!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!M-jL!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 424w, https://substackcdn.com/image/fetch/$s_!M-jL!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 848w, https://substackcdn.com/image/fetch/$s_!M-jL!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 1272w, https://substackcdn.com/image/fetch/$s_!M-jL!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!M-jL!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png" width="546" height="707" 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srcset="https://substackcdn.com/image/fetch/$s_!M-jL!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 424w, https://substackcdn.com/image/fetch/$s_!M-jL!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 848w, https://substackcdn.com/image/fetch/$s_!M-jL!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 1272w, https://substackcdn.com/image/fetch/$s_!M-jL!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F951334a2-8598-497c-9935-7bc531492d02_546x707.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><h1><a href="https://agregador-eleitoral.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">AGREGADOR ELEITORAL</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!wvuz!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!wvuz!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 424w, https://substackcdn.com/image/fetch/$s_!wvuz!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 848w, https://substackcdn.com/image/fetch/$s_!wvuz!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 1272w, https://substackcdn.com/image/fetch/$s_!wvuz!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!wvuz!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png" width="578" height="663" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/ae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:663,&quot;width&quot;:578,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:67885,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/214738202?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!wvuz!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 424w, https://substackcdn.com/image/fetch/$s_!wvuz!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 848w, https://substackcdn.com/image/fetch/$s_!wvuz!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 1272w, https://substackcdn.com/image/fetch/$s_!wvuz!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae014e8d-e295-4fab-bbfc-9d19bac1bea9_578x663.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">De olho nos gr&#225;ficos</span></h1><div id="youtube2-QLuvUTv6ppU" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;QLuvUTv6ppU&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/QLuvUTv6ppU?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div id="youtube2-4_h9P7WT39c" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;4_h9P7WT39c&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/4_h9P7WT39c?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div id="youtube2-lZAGNakDg2k" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;lZAGNakDg2k&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/lZAGNakDg2k?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Conte&#250;dos que prestam</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://bit.ly/4kqANwq" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Puij!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 424w, https://substackcdn.com/image/fetch/$s_!Puij!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 848w, https://substackcdn.com/image/fetch/$s_!Puij!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 1272w, https://substackcdn.com/image/fetch/$s_!Puij!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Puij!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png" width="635" height="767" 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srcset="https://substackcdn.com/image/fetch/$s_!Puij!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 424w, https://substackcdn.com/image/fetch/$s_!Puij!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 848w, https://substackcdn.com/image/fetch/$s_!Puij!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 1272w, https://substackcdn.com/image/fetch/$s_!Puij!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F50f40379-2683-4544-8b5f-274c754c03eb_635x767.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://archive.is/ExaWx" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!kuCa!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F72ae339e-320b-4ac6-a7c7-2afe76c4efac_551x610.png 424w, 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div id="youtube2-RZSKsXy246w" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;RZSKsXy246w&quot;,&quot;startTime&quot;:&quot;30s&quot;,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/RZSKsXy246w?start=30s&amp;rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div class="captioned-image-container"><figure><a class="image-link image2" target="_blank" href="https://valorinternational.globo.com/markets/news/2026/09/09/election-bull-bets-drive-brazilian-etf-options-to-2007-high.ghtml" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!aYj0!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffc009d33-c4e9-4769-9944-e0b1b1311bf5_726x186.png 424w, https://substackcdn.com/image/fetch/$s_!aYj0!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffc009d33-c4e9-4769-9944-e0b1b1311bf5_726x186.png 848w, https://substackcdn.com/image/fetch/$s_!aYj0!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffc009d33-c4e9-4769-9944-e0b1b1311bf5_726x186.png 1272w, 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(SAHM)&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!qaf_!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0593a51-c407-42bc-91ba-bbfec8310c64_278x278.png&quot;,&quot;title&quot;:&quot;Something is shifting in the inflation picture&quot;,&quot;truncated_body_text&quot;:&quot;Hike or hold? That is the question when the Fed meets next week. Going in, it&#8217;s clear that Fed officials are divided on the answer. The division isn't the kind that a single CPI print will resolve. In today&#8217;s post, I explain why I moved recently from hold to hike as the appropriate policy. My&quot;,&quot;date&quot;:&quot;2026-09-07T21:40:41.609Z&quot;,&quot;like_count&quot;:183,&quot;comment_count&quot;:81,&quot;bylines&quot;:[{&quot;id&quot;:4650173,&quot;name&quot;:&quot;Claudia Sahm&quot;,&quot;handle&quot;:&quot;stayathomemacro&quot;,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/fe97d36a-3361-4fa9-8d48-251ffa4dc05d_96x96.jpeg&quot;,&quot;bio&quot;:&quot;Founder of Sahm Consulting, former Federal Reserve and White House economist.&quot;,&quot;profile_set_up_at&quot;:&quot;2021-08-14T22:55:46.820Z&quot;,&quot;reader_installed_at&quot;:&quot;2022-09-24T09:23:06.522Z&quot;,&quot;publicationUsers&quot;:[{&quot;id&quot;:251285,&quot;user_id&quot;:4650173,&quot;publication_id&quot;:280281,&quot;role&quot;:&quot;admin&quot;,&quot;public&quot;:true,&quot;is_primary&quot;:true,&quot;publication&quot;:{&quot;id&quot;:280281,&quot;name&quot;:&quot;Stay-At-Home Macro (SAHM)&quot;,&quot;subdomain&quot;:&quot;stayathomemacro&quot;,&quot;custom_domain&quot;:&quot;stayathomemacro.com&quot;,&quot;custom_domain_optional&quot;:true,&quot;hero_text&quot;:&quot;My goal is to make economic policy and macroeconomics better.&quot;,&quot;logo_url&quot;:&quot;https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/a0593a51-c407-42bc-91ba-bbfec8310c64_278x278.png&quot;,&quot;author_id&quot;:4650173,&quot;primary_user_id&quot;:4650173,&quot;theme_var_background_pop&quot;:&quot;#786CFF&quot;,&quot;created_at&quot;:&quot;2021-02-06T22:25:11.637Z&quot;,&quot;email_from_name&quot;:&quot;Claudia Sahm from Stay-At-Home Macro (SAHM)&quot;,&quot;copyright&quot;:&quot;Claudia Sahm&quot;,&quot;founding_plan_name&quot;:&quot;Extra Special Supporter&quot;,&quot;community_enabled&quot;:true,&quot;invite_only&quot;:false,&quot;payments_state&quot;:&quot;enabled&quot;,&quot;language&quot;:null,&quot;explicit&quot;:false,&quot;homepage_type&quot;:&quot;magaziney&quot;,&quot;is_personal_mode&quot;:false,&quot;logo_url_wide&quot;:null}}],&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:100,&quot;status&quot;:{&quot;bestsellerTier&quot;:100,&quot;subscriberTier&quot;:10,&quot;leaderboard&quot;:null,&quot;vip&quot;:false,&quot;badge&quot;:{&quot;type&quot;:&quot;bestseller&quot;,&quot;tier&quot;:100},&quot;subscriber&quot;:null}}],&quot;utm_campaign&quot;:null,&quot;belowTheFold&quot;:true,&quot;type&quot;:&quot;newsletter&quot;,&quot;language&quot;:&quot;en&quot;,&quot;source&quot;:null}" data-component-name="EmbeddedPostToDOM"><a class="embedded-post" native="true" href="https://stayathomemacro.substack.com/p/something-is-shifting-in-the-inflation?utm_source=substack&amp;utm_campaign=post_embed&amp;utm_medium=web&amp;embedding_publication_id=6164718"><div class="embedded-post-header"><img class="embedded-post-publication-logo" src="https://substackcdn.com/image/fetch/$s_!qaf_!,w_56,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0593a51-c407-42bc-91ba-bbfec8310c64_278x278.png" loading="lazy"><span class="embedded-post-publication-name">Stay-At-Home Macro (SAHM)</span></div><div class="embedded-post-title-wrapper"><div class="embedded-post-title">Something is shifting in the inflation picture</div></div><div class="embedded-post-body">Hike or hold? That is the question when the Fed meets next week. Going in, it&#8217;s clear that Fed officials are divided on the answer. The division isn't the kind that a single CPI print will resolve. In today&#8217;s post, I explain why I moved recently from hold to hike as the appropriate policy. 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Briefing di&#225;rio &#224;s 7h. &quot;,&quot;profile_set_up_at&quot;:&quot;2026-03-10T20:09:04.205Z&quot;,&quot;reader_installed_at&quot;:&quot;2024-11-03T23:42:13.014Z&quot;,&quot;publicationUsers&quot;:[{&quot;id&quot;:8474874,&quot;user_id&quot;:282930565,&quot;publication_id&quot;:8278632,&quot;role&quot;:&quot;admin&quot;,&quot;public&quot;:true,&quot;is_primary&quot;:true,&quot;publication&quot;:{&quot;id&quot;:8278632,&quot;name&quot;:&quot;Resenha Econ&#244;mica&quot;,&quot;subdomain&quot;:&quot;resenhaeco&quot;,&quot;custom_domain&quot;:null,&quot;custom_domain_optional&quot;:false,&quot;hero_text&quot;:&quot;&quot;,&quot;logo_url&quot;:null,&quot;author_id&quot;:282930565,&quot;primary_user_id&quot;:282930565,&quot;theme_var_background_pop&quot;:&quot;#FF6719&quot;,&quot;created_at&quot;:&quot;2026-03-10T20:19:57.174Z&quot;,&quot;email_from_name&quot;:null,&quot;copyright&quot;:&quot;Resenha Econ&#244;mica&quot;,&quot;founding_plan_name&quot;:null,&quot;community_enabled&quot;:true,&quot;invite_only&quot;:false,&quot;payments_state&quot;:&quot;disabled&quot;,&quot;language&quot;:null,&quot;explicit&quot;:false,&quot;homepage_type&quot;:&quot;profile&quot;,&quot;is_personal_mode&quot;:false,&quot;logo_url_wide&quot;:null}}],&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null,&quot;status&quot;:{&quot;bestsellerTier&quot;:null,&quot;subscriberTier&quot;:null,&quot;leaderboard&quot;:null,&quot;vip&quot;:false,&quot;badge&quot;:null,&quot;subscriber&quot;:null}}],&quot;utm_campaign&quot;:null,&quot;belowTheFold&quot;:true,&quot;type&quot;:&quot;newsletter&quot;,&quot;language&quot;:&quot;en&quot;,&quot;source&quot;:null}" data-component-name="EmbeddedPostToDOM"><a class="embedded-post" native="true" 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data-color="#4a86e8" style="color: rgb(74, 134, 232);">A Gatorade deveria ter contatado produtores de cenoura e batata-doce logo ap&#243;s Joey Wellness publicar o v&#237;deo "o que h&#225; dentro do Gatorade" alguns anos atr&#225;s.</span></p><div class="native-video-embed" data-component-name="VideoPlaceholder" data-attrs="{&quot;mediaUploadId&quot;:&quot;792c1ef4-2e75-46d9-abb2-3bebb3266ea3&quot;,&quot;duration&quot;:null}"></div><p></p><h1><span>Just didn&#8217;t</span></h1><div class="native-video-embed" data-component-name="VideoPlaceholder" data-attrs="{&quot;mediaUploadId&quot;:&quot;2c804859-d13a-4093-ae5a-71e7e692f7f4&quot;,&quot;duration&quot;:null}"></div><p><span><span class="cashtag-wrap" data-attrs="{&quot;symbol&quot;:&quot;$NKE&quot;}" data-component-name="CashtagToDOM"></span> </span></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" 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class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/p/brasil-cortara-juros-na-contramao/comments&quot;,&quot;text&quot;:&quot;Deixe um coment&#225;rio&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.tradenews.com.br/p/brasil-cortara-juros-na-contramao/comments"><span>Deixe um coment&#225;rio</span></a></p><p></p><p style="text-align: center;"></p><p style="text-align: center;"></p>]]></content:encoded></item><item><title><![CDATA[O CPI que decide o rumo do Fed]]></title><description><![CDATA[E mais. Relat&#243;rios, Leituras e Memes]]></description><link>https://www.tradenews.com.br/p/o-cpi-que-decide-o-rumo-do-fed</link><guid isPermaLink="false">https://www.tradenews.com.br/p/o-cpi-que-decide-o-rumo-do-fed</guid><dc:creator><![CDATA[Beto Saadia]]></dc:creator><pubDate>Mon, 07 Sep 2026 18:42:16 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!k4kU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe1ba4d3a-532f-4c27-80ed-b7079f31d4a9_1230x686.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;d35d5870-446d-4dc0-96e0-115ad4da804f&quot;,&quot;caption&quot;:&quot;Este post est&#225; sendo atualizado &#224; medida que novas carteiras forem divulgadas. &#218;ltima atualiza&#231;&#227;o 16h45 - 03/09&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;lg&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;Carteiras sugeridas para setembro&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:393914207,&quot;name&quot;:&quot;Ana Clara Lima do Nascimento&quot;,&quot;bio&quot;:null,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/3f195ec5-08c2-44d6-8fc9-f288b9ca0144_420x420.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-09-03T19:53:33.272Z&quot;,&quot;cover_image&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/51c27a3f-7e46-41f6-a7e5-0bfe79f6c49a_1731x909.png&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://www.tradenews.com.br/p/carteiras-sugeridas-para-setembro&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:214045615,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:1,&quot;comment_count&quot;:0,&quot;publication_id&quot;:6164718,&quot;publication_name&quot;:&quot;TradeNews&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!IZ8Z!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6e3fcd3-0cf5-4e1f-a8bc-931992edd347_582x582.png&quot;,&quot;belowTheFold&quot;:false,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. </p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><h1>O CPI que decide o rumo do Fed</h1><p>Nos Estados Unidos, o mercado aguarda a infla&#231;&#227;o de agosto, dado crucial para clarear as opini&#245;es divididas se o Fed sobe juros j&#225; em setembro. O CPI sai na sexta-feira.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Q7z-!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc808d96c-d5b6-4ce3-9ce7-82faa50f22b0_1073x477.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Q7z-!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc808d96c-d5b6-4ce3-9ce7-82faa50f22b0_1073x477.png 424w, https://substackcdn.com/image/fetch/$s_!Q7z-!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc808d96c-d5b6-4ce3-9ce7-82faa50f22b0_1073x477.png 848w, 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a><figcaption class="image-caption">60,4% aposta na alta de juros na pr&#243;xima reuni&#227;o do Fed</figcaption></figure></div><p>Aidna sobre os EUA, o payroll de agosto, divulgado semana passada, mostrou 162 mil vagas criadas e revis&#245;es para cima nos meses anteriores. A taxa de desemprego ficou est&#225;vel em 4,1%.</p><p>Com dados fortes, o mercado voltou a precificar mais de 60% de chance de o Fed subir os juros no pr&#243;ximo encontro.</p><p>Um dos membros do Fed, Christopher Waller vem tentando vender a ideia de que a infla&#231;&#227;o perde for&#231;a, citando o n&#250;cleo do PCE rodando a 3,0% em tr&#234;s meses, abaixo dos 4,8% de fevereiro. </p><p>J&#225; o presidente do Fed, Kevin Warsh (que assumiu comunica&#231;&#227;o discreta), argumenta que essa melhora n&#227;o &#233; estrutural. &#201; uma discord&#226;ncia que ficou p&#250;blica em Jackson Hole e que deve se resolver, ou se aprofundar, com o CPI de agosto, que sai na sexta feira dia 11.</p><p>A proje&#231;&#227;o do mercado &#233; de alta de 0,21% no n&#250;cleo, o suficiente, na nossa leitura, para manter o Fed parado por enquanto.</p><p>Mas as chances de vir um n&#250;mero mais quente &#233; alta, e &#233; o que definir&#225; se setembro termina com Fed em mantendo juros ou com o primeiro sinal de um ciclo de aperto liderado por uma ala mais hawkish, com Warsh &#224; frente defendendo que agir logo constr&#243;i credibilidade (quem diria).</p><p>Antes disso, na quinta, sai o PPI de agosto, mais um term&#244;metro importante, e as vendas de im&#243;veis usados.</p><p>Brasil</p><p>As pesquisas da semana mostraram Lula e o senador Fl&#225;vio Bolsonaro praticamente empatados no segundo turno. A novidade foi a ascens&#227;o do escritor Augusto Cury, que saltou para perto de dois d&#237;gitos nas inten&#231;&#245;es de voto e se tornou o primeiro nome a chegar t&#227;o perto dos l&#237;deres neste ciclo. Ainda &#233; cedo para saber o que isso significa na pr&#225;tica, at&#233; porque pouco se sabe sobre a agenda econ&#244;mica que Cury defenderia, mas quanto mais embaralhado o primeiro turno, maior a incerteza sobre o regime fiscal do pr&#243;ximo governo, especialmente porque a vota&#231;&#227;o do or&#231;amento de 2027 no Congresso s&#243; deve ocorrer depois da elei&#231;&#227;o.</p><p>Enquanto isso, a economia desaquece. O PIB do segundo trimestre confirmou a desacelera&#231;&#227;o, de 4,5% para 1,9% em ritmo anualizado, puxado quase inteiramente por estoques, com o consumo das fam&#237;lias caindo pela primeira vez em um ano e meio. A produ&#231;&#227;o industrial tamb&#233;m decepcionou em julho, e o c&#226;mbio mais valorizado refor&#231;a o argumento de um ciclo de corte de juros mais longo do que os 25 pontos base esperados para a reuni&#227;o de setembro do Banco Central.</p><p>A semana trar&#225; mais dados que devem refor&#231;ar essa leitura de atividade fraca com infla&#231;&#227;o baixa. O setor de servi&#231;os de julho deve mostrar leve alta depois de dois meses ruins, e o IPCA de agosto, na sexta, deve vir negativo, puxado pela tarifa de energia mais barata (o &#8220;b&#244;nus de Itaipu&#8221;), o que deve dar ao Banco Central mais espa&#231;o para seguir cortando juros al&#233;m do que o mercado j&#225; espera.</p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Calend&#225;rio da Semana</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!McLy!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2c7fd3ad-ebfb-4326-8cea-6198771509f6_1725x472.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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Inscreva-se</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Rentabilidade das principais classes</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!k4kU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe1ba4d3a-532f-4c27-80ed-b7079f31d4a9_1230x686.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!k4kU!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe1ba4d3a-532f-4c27-80ed-b7079f31d4a9_1230x686.png 424w, https://substackcdn.com/image/fetch/$s_!k4kU!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe1ba4d3a-532f-4c27-80ed-b7079f31d4a9_1230x686.png 848w, https://substackcdn.com/image/fetch/$s_!k4kU!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe1ba4d3a-532f-4c27-80ed-b7079f31d4a9_1230x686.png 1272w, https://substackcdn.com/image/fetch/$s_!k4kU!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe1ba4d3a-532f-4c27-80ed-b7079f31d4a9_1230x686.png 1456w" sizes="100vw"><img 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p></p><h1><a href="https://fluxo-estrangeiro-b3.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Fluxo de capital estrangeiro B3</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!P3_r!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!P3_r!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 424w, https://substackcdn.com/image/fetch/$s_!P3_r!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 848w, https://substackcdn.com/image/fetch/$s_!P3_r!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 1272w, https://substackcdn.com/image/fetch/$s_!P3_r!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!P3_r!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png" width="1053" height="871" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:871,&quot;width&quot;:1053,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:203591,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/213549216?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!P3_r!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 424w, https://substackcdn.com/image/fetch/$s_!P3_r!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 848w, https://substackcdn.com/image/fetch/$s_!P3_r!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 1272w, https://substackcdn.com/image/fetch/$s_!P3_r!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F96de8f5c-c780-4c0d-b2de-c4fff411ad1e_1053x871.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><a href="https://agregador-eleitoral.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">AGREGADOR ELEITORAL</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!l9fp!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!l9fp!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 424w, https://substackcdn.com/image/fetch/$s_!l9fp!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 848w, https://substackcdn.com/image/fetch/$s_!l9fp!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 1272w, https://substackcdn.com/image/fetch/$s_!l9fp!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!l9fp!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png" width="773" height="787" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/ed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:787,&quot;width&quot;:773,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:84802,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/213549216?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!l9fp!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 424w, https://substackcdn.com/image/fetch/$s_!l9fp!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 848w, https://substackcdn.com/image/fetch/$s_!l9fp!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 1272w, https://substackcdn.com/image/fetch/$s_!l9fp!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed13d901-b0df-4004-ae71-70d52bec1e0c_773x787.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">De olho nos gr&#225;ficos</span></h1><p>&#128250; *Conte&#250;dos da Semana*</p><p>&#128064; Um Set Up SIMPLES para D&#243;lar</p><div id="youtube2-I9ta5ORutVQ" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;I9ta5ORutVQ&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/I9ta5ORutVQ?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p>Sinal de alerta em MDNE3</p><p><a href="https://youtube.com/shorts/W_uUlMboTtA">https://youtube.com/shorts/W_uUlMboTtA</a></p><p>+ 720 pontos SEM SOFRER!</p><p><a href="https://youtube.com/shorts/kR_MyFPVv4M">https://youtube.com/shorts/kR_MyFPVv4M</a></p><p>ACERTOU NA MOSCA O ALVO DO &#205;NDICE</p><p><a href="https://youtube.com/shorts/bX_vNQkr05I">https://youtube.com/shorts/bX_vNQkr05I</a></p><p>QUASE 200% DE LUCRO EM 2026! </p><p><a href="https://youtube.com/shorts/JhIiqS70qKM">https://youtube.com/shorts/JhIiqS70qKM</a></p><p>ASAI3 PODE EXPLODIR SE ROMPER ESSE PATAMAR </p><p><a href="https://youtube.com/shorts/aigE76Omxrw">https://youtube.com/shorts/aigE76Omxrw</a></p><p></p><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Conte&#250;dos que prestam</span></h1><p></p><div id="youtube2-kCKpbnMVQcE" class="youtube-wrap" 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data-component-name="Spotify2ToDOM"></iframe><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://braziljournal.com/cautelares-sem-criterio-credores-sem-isonomia-o-jogo-pesado-das-res/?utm_source=Brazil+Journal&amp;utm_campaign=8e5b6471dc-news-04122025-2-_COPY_02&amp;utm_medium=email&amp;utm_term=0_850f0f7afd-8e5b6471dc-427772146" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!-z0s!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F097d7b27-ea30-4c2d-9499-3d0094ae7285_890x443.png 424w, https://substackcdn.com/image/fetch/$s_!-z0s!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F097d7b27-ea30-4c2d-9499-3d0094ae7285_890x443.png 848w, https://substackcdn.com/image/fetch/$s_!-z0s!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F097d7b27-ea30-4c2d-9499-3d0094ae7285_890x443.png 1272w, https://substackcdn.com/image/fetch/$s_!-z0s!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F097d7b27-ea30-4c2d-9499-3d0094ae7285_890x443.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!-z0s!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F097d7b27-ea30-4c2d-9499-3d0094ae7285_890x443.png" width="890" height="443" 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class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">MEMOLOGY</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!_Hft!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F221885a8-055d-4532-b410-779a940c4140_944x1122.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!_Hft!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F221885a8-055d-4532-b410-779a940c4140_944x1122.jpeg 424w, https://substackcdn.com/image/fetch/$s_!_Hft!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F221885a8-055d-4532-b410-779a940c4140_944x1122.jpeg 848w, https://substackcdn.com/image/fetch/$s_!_Hft!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F221885a8-055d-4532-b410-779a940c4140_944x1122.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!_Hft!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F221885a8-055d-4532-b410-779a940c4140_944x1122.jpeg 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!_Hft!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F221885a8-055d-4532-b410-779a940c4140_944x1122.jpeg" width="944" height="1122" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!g2Mz!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2083b825-0bbf-42ed-b972-471b470342bd_1085x976.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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Relat&#243;rios, Leituras e Memes]]></description><link>https://www.tradenews.com.br/p/brasil-e-eua-bancos-centrais-respondendo</link><guid isPermaLink="false">https://www.tradenews.com.br/p/brasil-e-eua-bancos-centrais-respondendo</guid><dc:creator><![CDATA[Beto Saadia]]></dc:creator><pubDate>Sun, 30 Aug 2026 17:50:09 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!mt5i!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79286361-b4a6-46ac-b399-dbc5e96ee060_1173x663.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><h1><strong><a href="https://nomosplus.com.br/score-trader?utm_area=tradenews&amp;utm_part=d92f36&amp;utm_source=site_interno&amp;utm_medium=referral&amp;utm_campaign=445&amp;utm_term=substack_tradenews&amp;utm_content=newsletter_substack&amp;utm_id=b6cde81538"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Score Trader j&#225; est&#225; dispon&#237;vel na Nomos+</span></a></strong></h1><p>A ferramenta que analisa seu operacional com base no hist&#243;rico de trade. Basta exportar seu hist&#243;rico de ordens do Profit e fazer upload na ferramenta. Usufrua da an&#225;lise completa para evoluir sua performance.</p><div class="native-video-embed" data-component-name="VideoPlaceholder" data-attrs="{&quot;mediaUploadId&quot;:&quot;24161284-7e17-4f1d-8580-f2214067de70&quot;,&quot;duration&quot;:null}"></div><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. </p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Brasil confirma a desacelera&#231;&#227;o e Kevin Warsh faz discurso definidor nos EUA</span></h1><p>A semana que come&#231;a amanh&#227; entregar&#225; duas respostas que o mercado vinha pedindo.</p><p>No Brasil, o PIB do segundo trimestre vai confirmar o que os dados de alta frequ&#234;ncia j&#225; sugeriam. A economia perdeu for&#231;a bem antes do esperado.</p><p>Nos Estados Unidos, o payroll de agosto e o discurso mais claro do presidente do Fed em Jackson Hole v&#227;o dizer se setembro ter&#225; uma nova alta de juros.</p><h2>No Brasil, a desacelera&#231;&#227;o ganhar&#225; mais indicadores</h2><p>Ter&#231;a feira, dia 1&#186; de setembro, o IBGE divulga o PIB do segundo trimestre. Projetamos crescimento de 2% na compara&#231;&#227;o trimestral anualizada, uma queda consider&#225;vel ante os 4,5% do primeiro trimestre. O n&#250;mero confirma que 2026 est&#225; caminhando para fechar o segundo semestre perto de 1% de crescimento anualizado, bem abaixo do potencial.</p><p>O enredo &#233; conhecido: d&#237;vida elevada entre fam&#237;lias e empresas, uma onda de pedidos de recupera&#231;&#227;o judicial, mercado de trabalho mostrando sinais de exaust&#227;o e uma temporada ruim de balan&#231;os corporativos. O impulso fiscal que sustentou parte da atividade recente vai perder for&#231;a &#224; medida que o ciclo pol&#237;tico avan&#231;a e o espa&#231;o or&#231;ament&#225;rio fica mais apertado.</p><p>Ainda no Brasil, o IPCA 15 de agosto trouxe surpresa para baixo, com o n&#250;cleo voltando para dentro da meta na leitura trimestral anualizada. Isso refor&#231;a a leitura de que o Copom deve entregar mais um corte de 25 pontos base em setembro, levando a Selic a 13,75%. O risco ainda &#233; a infla&#231;&#227;o de servi&#231;os, que segue rodando em n&#237;vel alto, e o efeito do El Ni&#241;o, que deve pressionar pre&#231;os no quarto trimestre. A d&#250;vida crescente do mercado &#233; se, depois do corte de setembro, o Copom faz uma pausa ou mant&#233;m aberta a possibilidade de uma trajet&#243;ria baixista da Selic.</p><h2>EUA no discurso de Jackson Hole que derrubou cripto e ouro</h2><p>Do outro lado, a semana &#233; dominada pelos desdobramentos do discurso do presidente do Fed em Jackson Hole, na sexta feira passada. Minha leitura &#233; que o tom foi hawkish. Ele reafirmou a meta de 2% para o PCE depois de tanto hesitar nesse ponto nas coletivas anteriores. Kevin Warsh chamou aten&#231;&#227;o para o n&#250;cleo da infla&#231;&#227;o (a fatia de componentes do PCE subindo acima de 3% ao ano, ainda bem acima do per&#237;odo pr&#233; crise de 2008) e classificou as condi&#231;&#245;es financeiras atuais como pouco restritivas. A conclus&#227;o de que ainda h&#225; &#8220;trabalho a fazer&#8221; caso a infla&#231;&#227;o n&#227;o convirja rapidamente refor&#231;a a leitura de que uma alta de juros em setembro passou a ser uma possibilidade real.</p><p>O mercado j&#225; precificou essa mudan&#231;a. A probabilidade de uma alta em setembro subiu de cerca de 36% para 60% depois do discurso.</p><p>A semana traz as pe&#231;as que faltavam no quebra cabe&#231;a: o relat&#243;rio de emprego de sexta feira, dia 4 de setembro, deve mostrar cria&#231;&#227;o de 50 mil vagas e taxa de desemprego est&#225;vel em 4,1%.</p><p>Entre os relat&#243;rios de PMI e ISM de manufatura e servi&#231;os, ao longo da semana, o mercado vai testar se a for&#231;a recente dos lucros corporativos (que subiram 41% na compara&#231;&#227;o trimestral anualizada no segundo trimestre, o melhor resultado em cinco anos fora recupera&#231;&#245;es p&#243;s recessivas) finalmente come&#231;a a se traduzir em contrata&#231;&#245;es mais robustas.</p><p>At&#233; agora, o v&#237;nculo entre lucro recorde e gera&#231;&#227;o de emprego segue frouxo, e boa parte do crescimento de lucro veio do setor de tecnologia, que continua reduzindo o quadro de funcion&#225;rios.</p><h2>S&#237;ntese da semana</h2><p>A s&#237;ntese da semana &#233; a diverg&#234;ncia de trajet&#243;rias entre Brasil e EUA. O primeiro desacelerando e abrindo espa&#231;o para mais cortes de juros; os Estados Unidos, ao contr&#225;rio, vendo o Fed sinalizar disposi&#231;&#227;o para apertar de novo. S&#227;o dois bancos centrais respondendo a press&#245;es opostas.</p><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Calend&#225;rio da Semana</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!W2Mc!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!W2Mc!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 424w, https://substackcdn.com/image/fetch/$s_!W2Mc!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 848w, https://substackcdn.com/image/fetch/$s_!W2Mc!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 1272w, https://substackcdn.com/image/fetch/$s_!W2Mc!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!W2Mc!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png" width="1456" height="397" 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srcset="https://substackcdn.com/image/fetch/$s_!W2Mc!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 424w, https://substackcdn.com/image/fetch/$s_!W2Mc!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 848w, https://substackcdn.com/image/fetch/$s_!W2Mc!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 1272w, https://substackcdn.com/image/fetch/$s_!W2Mc!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fed2d6867-8f82-4bc8-bec9-3dfd478c2f78_1542x420.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div 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Inscreva-se</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><div><hr></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Rentabilidade das principais classes</span></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!mt5i!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79286361-b4a6-46ac-b399-dbc5e96ee060_1173x663.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!mt5i!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79286361-b4a6-46ac-b399-dbc5e96ee060_1173x663.png 424w, https://substackcdn.com/image/fetch/$s_!mt5i!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79286361-b4a6-46ac-b399-dbc5e96ee060_1173x663.png 848w, https://substackcdn.com/image/fetch/$s_!mt5i!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79286361-b4a6-46ac-b399-dbc5e96ee060_1173x663.png 1272w, https://substackcdn.com/image/fetch/$s_!mt5i!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79286361-b4a6-46ac-b399-dbc5e96ee060_1173x663.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!mt5i!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F79286361-b4a6-46ac-b399-dbc5e96ee060_1173x663.png" width="1173" height="663" 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><a href="https://fluxo-estrangeiro-b3.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">Fluxo de capital estrangeiro B3</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!0pTH!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe5e02732-a26d-420f-92e6-b27e4f13ba89_753x698.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><a href="https://agregador-eleitoral.vercel.app/"><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">AGREGADOR ELEITORAL</span></a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!iqJY!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5b44f899-a0d9-4227-87ef-2cc6d56cc5e0_767x616.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://www18.fgv.br/mailing/2026/IBRE/Boletim_Macro/agosto/2/" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!4ZMm!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69294203-39ae-4dae-b11c-8006b9f7160f_531x248.png 424w, 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!nOxh!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!nOxh!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 424w, https://substackcdn.com/image/fetch/$s_!nOxh!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 848w, https://substackcdn.com/image/fetch/$s_!nOxh!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!nOxh!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!nOxh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg" width="1456" height="921" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:921,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:null,&quot;alt&quot;:&quot;Imagem&quot;,&quot;title&quot;:null,&quot;type&quot;:null,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="Imagem" title="Imagem" srcset="https://substackcdn.com/image/fetch/$s_!nOxh!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 424w, https://substackcdn.com/image/fetch/$s_!nOxh!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 848w, https://substackcdn.com/image/fetch/$s_!nOxh!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!nOxh!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9433c976-fb97-4eed-8e4b-9193df2ae74b_1941x1228.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><h1><span data-color="#4a86e8" style="color: rgb(74, 134, 232);">MEMOLOGY</span></h1><p>Melhor uso de IA em tanto tempo</p><div class="native-video-embed" data-component-name="VideoPlaceholder" data-attrs="{&quot;mediaUploadId&quot;:&quot;155eb4f9-c449-42c8-8829-4d818d77ab5a&quot;,&quot;duration&quot;:null}"></div><p></p><p><span>Renan Santos dirige um belo exemplar do Peugeot 206 2 portas neste raro verde e com rodas legais</span></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!Izy0!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!Izy0!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 424w, https://substackcdn.com/image/fetch/$s_!Izy0!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 848w, https://substackcdn.com/image/fetch/$s_!Izy0!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 1272w, https://substackcdn.com/image/fetch/$s_!Izy0!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!Izy0!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png" width="562" height="847" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:847,&quot;width&quot;:562,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:841572,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/213025955?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!Izy0!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 424w, https://substackcdn.com/image/fetch/$s_!Izy0!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 848w, https://substackcdn.com/image/fetch/$s_!Izy0!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 1272w, https://substackcdn.com/image/fetch/$s_!Izy0!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F67dc0a50-5034-43c6-81d8-9b34748b884d_562x847.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div 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title="r/wallstreetbets - When the bears' YOLO pays off" srcset="https://substackcdn.com/image/fetch/$s_!QDxS!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1b5711-6619-4173-9905-784a1f5551b3_640x637.jpeg 424w, https://substackcdn.com/image/fetch/$s_!QDxS!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1b5711-6619-4173-9905-784a1f5551b3_640x637.jpeg 848w, https://substackcdn.com/image/fetch/$s_!QDxS!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1b5711-6619-4173-9905-784a1f5551b3_640x637.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!QDxS!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6a1b5711-6619-4173-9905-784a1f5551b3_640x637.jpeg 1456w" sizes="100vw" 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srcset="https://substackcdn.com/image/fetch/$s_!b0pH!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7329f175-41e1-4840-bdee-075bcd9c68c0_640x345.jpeg 424w, https://substackcdn.com/image/fetch/$s_!b0pH!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7329f175-41e1-4840-bdee-075bcd9c68c0_640x345.jpeg 848w, https://substackcdn.com/image/fetch/$s_!b0pH!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7329f175-41e1-4840-bdee-075bcd9c68c0_640x345.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!b0pH!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F7329f175-41e1-4840-bdee-075bcd9c68c0_640x345.jpeg 1456w" sizes="100vw"><img 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href="https://substackcdn.com/image/fetch/$s_!zhca!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!zhca!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png 424w, https://substackcdn.com/image/fetch/$s_!zhca!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png 848w, https://substackcdn.com/image/fetch/$s_!zhca!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png 1272w, 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pile&quot;,&quot;title&quot;:null,&quot;type&quot;:null,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:null,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="r/wallstreetbets - The real reason Berkshire Hathaway started spending its cash pile" title="r/wallstreetbets - The real reason Berkshire Hathaway started spending its cash pile" srcset="https://substackcdn.com/image/fetch/$s_!zhca!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png 424w, https://substackcdn.com/image/fetch/$s_!zhca!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png 848w, https://substackcdn.com/image/fetch/$s_!zhca!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png 1272w, https://substackcdn.com/image/fetch/$s_!zhca!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0a7a1e16-1b66-415f-83b0-7e565d288c3e_640x309.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca nenhuma newsletter</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/p/brasil-e-eua-bancos-centrais-respondendo/comments&quot;,&quot;text&quot;:&quot;Deixe um coment&#225;rio&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.tradenews.com.br/p/brasil-e-eua-bancos-centrais-respondendo/comments"><span>Deixe um coment&#225;rio</span></a></p><p></p><p style="text-align: center;"></p><p style="text-align: center;"></p>]]></content:encoded></item><item><title><![CDATA[EUA, IA e Japão Competindo por Dinheiro]]></title><description><![CDATA[E mais. Relat&#243;rios, Leituras e Memes]]></description><link>https://www.tradenews.com.br/p/eua-ia-e-japao-competindo-por-dinheiro</link><guid isPermaLink="false">https://www.tradenews.com.br/p/eua-ia-e-japao-competindo-por-dinheiro</guid><dc:creator><![CDATA[Beto Saadia]]></dc:creator><pubDate>Sun, 23 Aug 2026 11:37:40 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!WeuY!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1526c3cd-a949-4553-9d6b-8b31cc5fa3f4_1118x623.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<h1><em>Panorama da semana de 22 de agosto de 2026</em></h1><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. </p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p>Os juros de longo prazo nos Estados Unidos voltaram a subir com for&#231;a nas &#250;ltimas semanas, e a explica&#231;&#227;o por tr&#225;s disso &#233; que as grandes empresas de tecnologia ligadas a intelig&#234;ncia artificial, como Amazon, Google, Meta e Microsoft, est&#227;o emitindo d&#237;vida em ritmo recorde para financiar seus investimentos bilion&#225;rios em data centers e infraestrutura de IA.</p><p>Somente em 2026, essas empresas j&#225; emitiram 182 bilh&#245;es de d&#243;lares em t&#237;tulos, quase o dobro do total do ano passado inteiro.</p><p>O problema &#233; que esse dinheiro compete diretamente com o pr&#243;prio governo americano, que tamb&#233;m precisa se financiar emitindo t&#237;tulos p&#250;blicos. Quando duas fontes gigantes de demanda por capital disputam o mesmo mercado, o pre&#231;o do dinheiro sobe, ou seja, os juros sobem. Some a isso o fato de que os investidores est&#227;o cada vez mais confiantes de que os investimentos em IA v&#227;o realmente dar retorno, o que tamb&#233;m empurra os juros reais para cima.</p><p>O Tesouro americano anunciou, fora do calend&#225;rio normal, que vai dobrar o tamanho das opera&#231;&#245;es de recompra de t&#237;tulos longos. Na pr&#225;tica, isso &#233; uma tentativa do governo de segurar os juros na marra, sem resolver a causa raiz do problema. O risco &#233; que esse tipo de a&#231;&#227;o, por fugir do padr&#227;o &#8220;regular e previs&#237;vel&#8221; que o mercado espera do Tesouro, acabe tendo o efeito contr&#225;rio no m&#233;dio prazo de gerar ainda mais desconfian&#231;a e pressionar os juros para cima.</p><p>No Federal Reserve, o banco central americano, a ata da &#250;ltima reuni&#227;o mostrou um grupo dividido. Menos da metade dos membros do comit&#234; defende novas altas de juros caso a infla&#231;&#227;o n&#227;o ceda, enquanto a maioria segue esperando que os pre&#231;os desacelerem ao longo do ano. Ou seja, n&#227;o houve uma virada hawkish (postura mais dura contra a infla&#231;&#227;o) generalizada, apesar do que a imprensa possa sugerir.</p><p><strong>O que esperar de Jackson Hole</strong></p><p>Na pr&#243;xima sexta-feira, o presidente do Fed, Kevin Warsh, discursa no tradicional simp&#243;sio de Jackson Hole, evento que re&#250;ne banqueiros centrais do mundo todo. Historicamente, esses discursos raramente mexem muito com o mercado, e Warsh j&#225; deixou claro que n&#227;o gosta de sinalizar decis&#245;es futuras com anteced&#234;ncia. A expectativa &#233; que ele fale sobre mudan&#231;as na forma como o Fed se comunica e sobre o balan&#231;o da institui&#231;&#227;o, n&#227;o sobre os pr&#243;ximos passos da taxa de juros. Se o mercado reagir de forma exagerada ao discurso, para qualquer lado, a leitura mais prov&#225;vel &#233; que seja ru&#237;do passageiro.</p><p><strong>Brasil: elei&#231;&#227;o entra na reta final</strong></p><p>No Brasil, as pesquisas seguem mostrando Lula na frente de Fl&#225;vio Bolsonaro num eventual segundo turno, com vantagem de 5 a 6 pontos percentuais. No mercado de apostas Polymarket, a diferen&#231;a &#233; ainda maior.</p><p>Os cen&#225;rios poss&#237;veis s&#227;o bem distintos. Se o mercado interpretar o resultado como continuidade do atual governo, a leitura tende a ser mais pessimista, com o d&#243;lar podendo chegar a 5,50 reais e os juros futuros subindo. J&#225; num cen&#225;rio de transi&#231;&#227;o pol&#237;tica vista como mais favor&#225;vel para o mercado, o d&#243;lar poderia cair a 4,90 reais e os juros futuros recuarem.</p><p>Do lado da economia real, os n&#250;meros de atividade do meio do ano confirmaram uma desacelera&#231;&#227;o: o indicador antecedente do PIB (IBC Br) cresceu apenas 0,7% no segundo trimestre, bem abaixo dos 5% registrados no in&#237;cio do ano. Pela primeira vez desde a virada de 2024 para 2025, o setor de servi&#231;os encolheu no trimestre.</p><p><strong>Fique de olho na semana que vem</strong></p><p>Na quarta feira, sai a pr&#233;via da infla&#231;&#227;o de agosto (IPCA 15), e o n&#250;mero deve vir negativo em 0,30%, muito por causa de um desconto na conta de luz relacionado &#224; usina de Itaipu. &#201; importante entender que esse resultado negativo n&#227;o significa que a infla&#231;&#227;o est&#225; sob controle de forma ampla. O n&#250;cleo da infla&#231;&#227;o, que exclui itens mais vol&#225;teis, deve subir no m&#234;s. Ou seja, a manchete vai parecer boa, mas o quadro de fundo continua desafiador.</p><p>No campo da pol&#237;tica monet&#225;ria, o mercado segue esperando um &#250;ltimo corte de 0,25 ponto percentual na taxa Selic em setembro, com o Banco Central entrando depois disso em uma pausa que deve durar at&#233; meados de 2027, dependendo de como a pol&#237;tica fiscal se comportar ap&#243;s as elei&#231;&#245;es de outubro.</p><h1>Calend&#225;rio da Semana</h1><div class="captioned-image-container"><figure><a class="image-link image2" target="_blank" href="https://substackcdn.com/image/fetch/$s_!USH3!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!USH3!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 424w, https://substackcdn.com/image/fetch/$s_!USH3!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 848w, https://substackcdn.com/image/fetch/$s_!USH3!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 1272w, https://substackcdn.com/image/fetch/$s_!USH3!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!USH3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png" width="728" height="200.38242097147264" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:357,&quot;width&quot;:1297,&quot;resizeWidth&quot;:728,&quot;bytes&quot;:69463,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/211740146?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!USH3!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 424w, https://substackcdn.com/image/fetch/$s_!USH3!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 848w, https://substackcdn.com/image/fetch/$s_!USH3!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 1272w, https://substackcdn.com/image/fetch/$s_!USH3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F53e010a5-c452-456a-afd2-d63fc6d5728a_1297x357.png 1456w" sizes="100vw" loading="lazy"></picture><div></div></div></a></figure></div><div><hr></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. Inscreva-se</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><div><hr></div><h1>Rentabilidade das principais classes</h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!WeuY!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1526c3cd-a949-4553-9d6b-8b31cc5fa3f4_1118x623.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><h1><a href="https://agregador-eleitoral.vercel.app/">AGREGADOR ELEITORAL</a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!qBdt!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ea6702b-a285-474b-bdea-35f53456904d_886x625.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!qBdt!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ea6702b-a285-474b-bdea-35f53456904d_886x625.png 424w, https://substackcdn.com/image/fetch/$s_!qBdt!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ea6702b-a285-474b-bdea-35f53456904d_886x625.png 848w, https://substackcdn.com/image/fetch/$s_!qBdt!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ea6702b-a285-474b-bdea-35f53456904d_886x625.png 1272w, https://substackcdn.com/image/fetch/$s_!qBdt!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ea6702b-a285-474b-bdea-35f53456904d_886x625.png 1456w" sizes="100vw"><img 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div><hr></div><h1>De olho nos gr&#225;ficos</h1><p>1.POR QUE O OURO SUBIU</p><p><a href="https://youtube.com/shorts/uVIwW9pPJ1U">https://youtube.com/shorts/uVIwW9pPJ1U</a></p><p></p><p>2.O SET UP TRADER DA NOMOS</p><p><a href="https://youtube.com/shorts/n4ZNQarxRRU">https://youtube.com/shorts/n4ZNQarxRRU</a></p><p></p><p>3.CASAS BAHIA PODE PREJUDICAR BBAS3</p><p><a href="https://youtube.com/shorts/nU72O4dnbX4">https://youtube.com/shorts/nU72O4dnbX4</a></p><p></p><div><hr></div><h1>Conte&#250;dos que prestam</h1><div class="embedded-post-wrap" data-attrs="{&quot;id&quot;:212270116,&quot;url&quot;:&quot;https://consensusrep.substack.com/p/eleicao-em-aberto&quot;,&quot;publication_id&quot;:7549252,&quot;embedding_publication_id&quot;:6164718,&quot;publication_name&quot;:&quot;Consensus Report&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!M_Js!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F189a2cb5-d5b7-4036-8b5e-4571175a57ff_1024x1024.png&quot;,&quot;title&quot;:&quot;Elei&#231;&#227;o em Aberto&quot;,&quot;truncated_body_text&quot;:&quot;Assine para receber o Consensus Report gratuitamente em seu e-mail.&quot;,&quot;date&quot;:&quot;2026-08-22T16:00:25.203Z&quot;,&quot;like_count&quot;:3,&quot;comment_count&quot;:0,&quot;bylines&quot;:[{&quot;id&quot;:113587907,&quot;name&quot;:&quot;Lucas de 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Mestre em Ci&#234;ncia Pol&#237;tica.&quot;,&quot;profile_set_up_at&quot;:&quot;2025-09-16T14:19:34.034Z&quot;,&quot;reader_installed_at&quot;:&quot;2026-01-03T15:57:25.658Z&quot;,&quot;publicationUsers&quot;:[{&quot;id&quot;:7702546,&quot;user_id&quot;:113587907,&quot;publication_id&quot;:7549252,&quot;role&quot;:&quot;admin&quot;,&quot;public&quot;:true,&quot;is_primary&quot;:true,&quot;publication&quot;:{&quot;id&quot;:7549252,&quot;name&quot;:&quot;Consensus Report&quot;,&quot;subdomain&quot;:&quot;consensusrep&quot;,&quot;custom_domain&quot;:null,&quot;custom_domain_optional&quot;:false,&quot;hero_text&quot;:&quot;O que aconteceu na pol&#237;tica e na geopol&#237;tica. Antes da opini&#227;o.&quot;,&quot;logo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/189a2cb5-d5b7-4036-8b5e-4571175a57ff_1024x1024.png&quot;,&quot;author_id&quot;:113587907,&quot;primary_user_id&quot;:113587907,&quot;theme_var_background_pop&quot;:&quot;#FF6719&quot;,&quot;created_at&quot;:&quot;2026-01-08T19:58:37.235Z&quot;,&quot;email_from_name&quot;:&quot;Consensus Report&quot;,&quot;copyright&quot;:&quot;Lucas de 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href="https://consensusrep.substack.com/p/eleicao-em-aberto?utm_source=substack&amp;utm_campaign=post_embed&amp;utm_medium=web&amp;embedding_publication_id=6164718"><div class="embedded-post-header"><img class="embedded-post-publication-logo" src="https://substackcdn.com/image/fetch/$s_!M_Js!,w_56,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F189a2cb5-d5b7-4036-8b5e-4571175a57ff_1024x1024.png" loading="lazy"><span class="embedded-post-publication-name">Consensus Report</span></div><div class="embedded-post-title-wrapper"><div class="embedded-post-title">Elei&#231;&#227;o em Aberto</div></div><div class="embedded-post-body">Assine para receber o Consensus Report gratuitamente em seu e-mail&#8230;</div><div class="embedded-post-cta-wrapper"><span class="embedded-post-cta">Read more</span></div><div class="embedded-post-meta">a month ago &#183; 3 likes &#183; Lucas de Aragao</div></a></div><div 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Exercise Bicycle and the Vagaries of Tech Innovation&quot;,&quot;truncated_body_text&quot;:&quot;I recently had the opportunity to visit the Nintendo Museum in Kyoto. In addition to getting to play with pre-NES toys (Ultra Hand! Ultra Machine!) the museum displays a wide variety of the products that Nintendo has made over its history, from playing cards to various kinds of games and technologies (eg. the&quot;,&quot;date&quot;:&quot;2026-08-18T16:49:59.465Z&quot;,&quot;like_count&quot;:2,&quot;comment_count&quot;:0,&quot;bylines&quot;:[{&quot;id&quot;:1011679,&quot;name&quot;:&quot;Samuel Arbesman&quot;,&quot;handle&quot;:&quot;arbesman&quot;,&quot;previous_name&quot;:null,&quot;photo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!a1Rw!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2F7ebfacd0-cc50-48a7-9ffd-ee9d931836a8_4165x4312.jpeg&quot;,&quot;bio&quot;:&quot;Scientist in Residence at Lux Capital, and author of \&quot;The Half-Life of Facts\&quot; and \&quot;Overcomplicated.\&quot;\n\nI'm ensorcelled by wonder.&quot;,&quot;profile_set_up_at&quot;:&quot;2022-04-14T01:47:59.180Z&quot;,&quot;reader_installed_at&quot;:null,&quot;publicationUsers&quot;:[{&quot;id&quot;:216617,&quot;user_id&quot;:1011679,&quot;publication_id&quot;:3297,&quot;role&quot;:&quot;admin&quot;,&quot;public&quot;:true,&quot;is_primary&quot;:true,&quot;publication&quot;:{&quot;id&quot;:3297,&quot;name&quot;:&quot;Cabinet of Wonders&quot;,&quot;subdomain&quot;:&quot;arbesman&quot;,&quot;custom_domain&quot;:null,&quot;custom_domain_optional&quot;:false,&quot;hero_text&quot;:&quot;Be prepared for radical interdisciplinarity: science + technology + complexity + humanities + wonder.&quot;,&quot;logo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/64f87076-a423-4847-ba32-07bf70b6f9cc_578x578.png&quot;,&quot;author_id&quot;:1011679,&quot;primary_user_id&quot;:1011679,&quot;theme_var_background_pop&quot;:&quot;#ff0000&quot;,&quot;created_at&quot;:&quot;2018-10-19T17:29:02.194Z&quot;,&quot;email_from_name&quot;:&quot;Samuel Arbesman&quot;,&quot;copyright&quot;:&quot;Samuel Arbesman&quot;,&quot;founding_plan_name&quot;:null,&quot;community_enabled&quot;:true,&quot;invite_only&quot;:false,&quot;payments_state&quot;:&quot;disabled&quot;,&quot;language&quot;:null,&quot;explicit&quot;:false,&quot;homepage_type&quot;:&quot;newspaper&quot;,&quot;is_personal_mode&quot;:false,&quot;logo_url_wide&quot;:null}}],&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null,&quot;status&quot;:{&quot;bestsellerTier&quot;:null,&quot;subscriberTier&quot;:null,&quot;leaderboard&quot;:null,&quot;vip&quot;:false,&quot;badge&quot;:null,&quot;subscriber&quot;:null}}],&quot;utm_campaign&quot;:null,&quot;belowTheFold&quot;:true,&quot;type&quot;:&quot;newsletter&quot;,&quot;language&quot;:&quot;en&quot;,&quot;source&quot;:null}" data-component-name="EmbeddedPostToDOM"><a class="embedded-post" native="true" href="https://arbesman.substack.com/p/nintendos-exercise-bicycle-and-the?utm_source=substack&amp;utm_campaign=post_embed&amp;utm_medium=web&amp;embedding_publication_id=6164718"><div class="embedded-post-header"><img class="embedded-post-publication-logo" src="https://substackcdn.com/image/fetch/$s_!lSnE!,w_56,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F64f87076-a423-4847-ba32-07bf70b6f9cc_578x578.png" loading="lazy"><span class="embedded-post-publication-name">Cabinet of Wonders</span></div><div class="embedded-post-title-wrapper"><div class="embedded-post-title">&#9758; Nintendo's Exercise Bicycle and the Vagaries of Tech Innovation</div></div><div class="embedded-post-body">I recently had the opportunity to visit the Nintendo Museum in Kyoto. In addition to getting to play with pre-NES toys (Ultra Hand! Ultra Machine!) the museum displays a wide variety of the products that Nintendo has made over its history, from playing cards to various kinds of games and technologies (eg. the&#8230;</div><div class="embedded-post-cta-wrapper"><span class="embedded-post-cta">Read more</span></div><div class="embedded-post-meta">a month ago &#183; 2 likes &#183; Samuel Arbesman</div></a></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://hixcapital.com.br/wp-content/uploads/2026/08/GEO_Carta-aos-Investidores_1o-Semestre-2026-1.pdf" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rt-S!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 424w, https://substackcdn.com/image/fetch/$s_!rt-S!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 848w, https://substackcdn.com/image/fetch/$s_!rt-S!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 1272w, https://substackcdn.com/image/fetch/$s_!rt-S!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!rt-S!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png" width="1010" height="504" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:504,&quot;width&quot;:1010,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:151824,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:&quot;https://hixcapital.com.br/wp-content/uploads/2026/08/GEO_Carta-aos-Investidores_1o-Semestre-2026-1.pdf&quot;,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/211740146?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!rt-S!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 424w, https://substackcdn.com/image/fetch/$s_!rt-S!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 848w, https://substackcdn.com/image/fetch/$s_!rt-S!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 1272w, https://substackcdn.com/image/fetch/$s_!rt-S!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa0188c8e-1506-450e-922e-ae1e67e8ed2e_1010x504.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><h1>MEMOLOGY</h1><div class="native-video-embed" data-component-name="VideoPlaceholder" data-attrs="{&quot;mediaUploadId&quot;:&quot;4e988193-a307-4ab2-9c1f-a23a76871796&quot;,&quot;duration&quot;:null}"></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!a5sU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!a5sU!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 424w, https://substackcdn.com/image/fetch/$s_!a5sU!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 848w, https://substackcdn.com/image/fetch/$s_!a5sU!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!a5sU!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 1456w" sizes="100vw"><img 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data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/dd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1203,&quot;width&quot;:1179,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:157930,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/211740146?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!a5sU!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 424w, https://substackcdn.com/image/fetch/$s_!a5sU!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 848w, https://substackcdn.com/image/fetch/$s_!a5sU!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!a5sU!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdd448b48-128b-4a00-8aa5-9d35c8c048a8_1179x1203.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div 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height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!rQZx!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fac0208cc-20a6-4cec-8cc8-24476bcd5857_1672x941.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!rQZx!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fac0208cc-20a6-4cec-8cc8-24476bcd5857_1672x941.jpeg 424w, https://substackcdn.com/image/fetch/$s_!rQZx!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fac0208cc-20a6-4cec-8cc8-24476bcd5857_1672x941.jpeg 848w, https://substackcdn.com/image/fetch/$s_!rQZx!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fac0208cc-20a6-4cec-8cc8-24476bcd5857_1672x941.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!rQZx!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fac0208cc-20a6-4cec-8cc8-24476bcd5857_1672x941.jpeg 1456w" sizes="100vw"><img 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Carteiras sugeridas para agosto.]]></description><link>https://www.tradenews.com.br/p/a-debandada-de-estrangeiros-da-bolsa</link><guid isPermaLink="false">https://www.tradenews.com.br/p/a-debandada-de-estrangeiros-da-bolsa</guid><dc:creator><![CDATA[Beto Saadia]]></dc:creator><pubDate>Sun, 16 Aug 2026 14:51:28 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!jyLI!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><h1>Panorama da Semana</h1><h1><strong>Estados Unidos</strong></h1><p>Semana foi de dados de infla&#231;&#227;o de julho, e o resultado foi sem o impacto esperado. CPI subiu s&#243; 0,1% no m&#234;s, n&#250;cleo em linha em 0,2%. PPI ainda mais manso, headline zerado e n&#250;cleo em 0,2%. S&#243; que quando o JPMorgan utiliza esses n&#250;meros (CPI e PPI) para estimar o PCE n&#250;cleo (que &#233; o que importa para o FED), a conta muda um pouco. O banco aponta 0,3% no m&#234;s de julho, o que levaria o anual de 3,3% para 3,4%.</p><p>Licen&#231;a para um tecnicismo necess&#225;rio</p><p>Boa parte dessa for&#231;a vem de uma distor&#231;&#227;o. O componente no PPI de &#8216;gest&#227;o de patrim&#244;nio&#8217;, taxa cobrada pelos bancos, saltou 6,5% no m&#234;s e sozinha respondeu por 13bp da estimativa do n&#250;cleo do PCE. A aberra&#231;&#227;o aconte&#231;e pela valoriza&#231;&#227;o de ativos e n&#227;o mede essencialmente infla&#231;&#227;o, o que n&#227;o faz muito sentido econ&#244;mico.</p><p>O varejo decepcionou, caiu 0,6% em julho, em parte por menor gasto em combust&#237;vel e pela Amazon ter puxado a promo&#231;&#227;o de julho para junho. Ou seja, &#233; passageiro e mant&#233;m a </p><p>Semana que vem, o destaque &#233; a ata do FOMC de julho na quarta, reuni&#227;o com tr&#234;s dissid&#234;ncias pedindo juros mais altos. O texto deve mostrar quanta paci&#234;ncia o resto do Comit&#234; ainda tem com infla&#231;&#227;o acima da meta. Saem tamb&#233;m produ&#231;&#227;o industrial, Empire State e Philly Fed de agosto, e indicadores de habita&#231;&#227;o. Warsh fala em Jackson Hole no fim de semana seguinte, dois dias depois do PCE de julho sair, mas n&#227;o esperamos dele grande esclarecimento sobre as nuances da m&#233;trica.</p><p>Vi&#233;s: Fed dividido, sem espa&#231;o para corte em setembro, mas com trajet&#243;ria de emprego que pode reabrir a porta at&#233; o fim do ano.</p><h1><strong>Brasil</strong></h1><p>Nos primeiros sete preg&#245;es de agosto, encerrados no dia 11, os investidores estrangeiros retiraram R$ 11,93 bilh&#245;es do mercado acion&#225;rio brasileiro. &#201; o segundo m&#234;s com maior sa&#237;da de recursos estrangeiros da B3 em 2026, atr&#225;s apenas de maio, que registrou retirada de R$ 14,91 bilh&#245;es. Analistas apontam dois fatores por tr&#225;s da debandada: no cen&#225;rio externo, a corrida por intelig&#234;ncia artificial puxa fluxo para os EUA. No cen&#225;rio dom&#233;stico, rebaixamento do JP Morgan com o peso da proximidade das elei&#231;&#245;es de outubro.</p><p>A corrida eleitoral de 2026 come&#231;a oficialmente neste fim de semana, prazo para registro de candidatura no TSE no s&#225;bado, in&#237;cio da propaganda no domingo. Lula lidera as simula&#231;&#245;es de segundo turno contra Fl&#225;vio Bolsonaro por 5 a 6 pontos, com o bloco de direita ainda dividido. Claramente ser&#225; disputa apertada, decidida na reta final.</p><p>Fiscal segue como a dor de cabe&#231;a principal para quem vencer. Carga tribut&#225;ria j&#225; voltou ao pico hist&#243;rico, perto de 23% do PIB, mas o super&#225;vit prim&#225;rio est&#225; longe do n&#237;vel que estabiliza a d&#237;vida, pelo menos 2,0% do PIB positivo. O peso dos juros j&#225; come cerca de 9% do PIB em 12 meses at&#233; junho, n&#237;vel parecido com 2016 e 1999.</p><p>No lado monet&#225;rio, a ata do Copom da semana passada refor&#231;ou depend&#234;ncia de dados para a pr&#243;xima reuni&#227;o, com leitura mais construtiva sobre desinfla&#231;&#227;o apesar da piora nas expectativas. Ainda trabalhamos com corte final de 25bp em setembro, Selic em 13,75%, mesmo n&#237;vel de quatro anos atr&#225;s, seguido de pausa at&#233; o pr&#243;ximo governo sinalizar algo sobre a trajet&#243;ria fiscal.</p><p>Dados da semana vieram um pouco mais firmes que o esperado, mas ainda dentro do que sustenta o corte de setembro. IPCA cheio de julho veio uma d&#233;cima acima do consenso, puxado por servi&#231;os, mas a m&#233;dia dos n&#250;cleos do BCB voltou para dentro da meta, desacelerando do pico acima de 5% (3m/3m saar) na virada do primeiro para o segundo trimestre. Atividade perde f&#244;lego: PIB caindo de 4,5% no primeiro trimestre para perto de 2% no segundo, em linha com o esperado.</p><p>Semana que vem saem o IGP-10 de agosto na segunda e o indicador de atividade econ&#244;mica de junho. Agosto deve vir com infla&#231;&#227;o cheia beneficiada pelo desconto el&#233;trico do repasse de Itaipu, efeito que se reverte em setembro. Da&#237; em diante o risco muda de lado, com press&#227;o de alimentos ligada ao El Ni&#241;o aparecendo nos pr&#243;ximos meses e deixando marca mais duradoura na infla&#231;&#227;o de tend&#234;ncia do que normalmente se espera de um choque tempor&#225;rio.</p><p>Vi&#233;s: Selic parada em 13,75% depois de setembro, crescimento fraco perto de 1% no trimestre com alguma resili&#234;ncia no fim do ano via medidas quase fiscais, e mercado de olho crescente nas propostas fiscais dos candidatos conforme a campanha avan&#231;a.</p><h1>Calend&#225;rio da Semana</h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!HTFs!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!HTFs!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 424w, https://substackcdn.com/image/fetch/$s_!HTFs!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 848w, https://substackcdn.com/image/fetch/$s_!HTFs!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 1272w, https://substackcdn.com/image/fetch/$s_!HTFs!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!HTFs!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png" width="1292" height="358" 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srcset="https://substackcdn.com/image/fetch/$s_!HTFs!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 424w, https://substackcdn.com/image/fetch/$s_!HTFs!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 848w, https://substackcdn.com/image/fetch/$s_!HTFs!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 1272w, https://substackcdn.com/image/fetch/$s_!HTFs!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbbdb1697-b7cd-433a-ab54-bbb202be5817_1292x358.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;1f683bc5-3eb5-40b4-b6d4-afad4963f5dc&quot;,&quot;caption&quot;:&quot;Este post est&#225; sendo atualizado &#224; medida que novas carteiras forem divulgadas. &#218;ltima atualiza&#231;&#227;o 12h00 - 06/08&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;sm&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;Carteiras sugeridas para agosto&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:393914207,&quot;name&quot;:&quot;Ana Clara Lima do Nascimento&quot;,&quot;bio&quot;:null,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/3f195ec5-08c2-44d6-8fc9-f288b9ca0144_420x420.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-08-04T16:12:43.224Z&quot;,&quot;cover_image&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/7e043db4-286f-43f2-bf14-c4f605629732_1600x840.jpeg&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://www.tradenews.com.br/p/carteiras-sugeridas-para-agosto&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:209781750,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:0,&quot;comment_count&quot;:0,&quot;publication_id&quot;:6164718,&quot;publication_name&quot;:&quot;TradeNews&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!IZ8Z!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6e3fcd3-0cf5-4e1f-a8bc-931992edd347_582x582.png&quot;,&quot;belowTheFold&quot;:true,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><p></p><div><hr></div><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.tradenews.com.br/subscribe?&quot;,&quot;text&quot;:&quot;Inscreva-se&quot;,&quot;language&quot;:&quot;pt-br&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">N&#227;o perca o pr&#243;ximo post. Inscreva-se</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Digite seu e-mail&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Inscreva-se"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><div><hr></div><h1>Rentabilidade das principais classes</h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!jyLI!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!jyLI!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 424w, https://substackcdn.com/image/fetch/$s_!jyLI!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 848w, https://substackcdn.com/image/fetch/$s_!jyLI!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 1272w, https://substackcdn.com/image/fetch/$s_!jyLI!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!jyLI!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png" width="1182" height="665" 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srcset="https://substackcdn.com/image/fetch/$s_!jyLI!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 424w, https://substackcdn.com/image/fetch/$s_!jyLI!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 848w, https://substackcdn.com/image/fetch/$s_!jyLI!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 1272w, https://substackcdn.com/image/fetch/$s_!jyLI!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4aa046ad-0c59-45c5-b772-b853b99290ba_1182x665.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><h1><a href="https://fluxo-estrangeiro-b3.vercel.app/">Fluxo de capital estrangeiro B3</a></h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!jq82!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!jq82!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 424w, https://substackcdn.com/image/fetch/$s_!jq82!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 848w, https://substackcdn.com/image/fetch/$s_!jq82!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 1272w, https://substackcdn.com/image/fetch/$s_!jq82!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!jq82!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png" width="1258" height="802" 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srcset="https://substackcdn.com/image/fetch/$s_!jq82!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 424w, https://substackcdn.com/image/fetch/$s_!jq82!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 848w, https://substackcdn.com/image/fetch/$s_!jq82!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 1272w, https://substackcdn.com/image/fetch/$s_!jq82!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F69c7fbf0-d174-46b8-820b-7c0423022258_1258x802.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div 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src="https://substackcdn.com/image/fetch/$s_!7UCV!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb3939b07-684a-414f-8ad1-f0b24d1cca9e_702x347.png" width="702" height="347" 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fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://www.arxinvestimentos.com.br/content/dam/arxinvestment/documents/general/en/2026/CartaGestor_CP_ARXInvestimentos_Agosto26.pdf" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ob7s!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 424w, https://substackcdn.com/image/fetch/$s_!ob7s!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 848w, https://substackcdn.com/image/fetch/$s_!ob7s!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 1272w, https://substackcdn.com/image/fetch/$s_!ob7s!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ob7s!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png" width="988" height="367" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:367,&quot;width&quot;:988,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:77061,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:&quot;https://www.arxinvestimentos.com.br/content/dam/arxinvestment/documents/general/en/2026/CartaGestor_CP_ARXInvestimentos_Agosto26.pdf&quot;,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://www.tradenews.com.br/i/210603250?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ob7s!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 424w, https://substackcdn.com/image/fetch/$s_!ob7s!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 848w, https://substackcdn.com/image/fetch/$s_!ob7s!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 1272w, https://substackcdn.com/image/fetch/$s_!ob7s!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F202f640b-2d3b-4144-bb9e-7fcfc51a880e_988x367.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image buttonBase-GK1x3M"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg" class="icon-noB79L"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image buttonBase-GK1x3M"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2 icon-noB79L"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p></p><p style="text-align: center;">I spent three weeks touring Brazil with two American friends. Here are the highlights of the trip and an analysis of what has changed in the markets. Free content for you. </p><div class="embedded-post-wrap" data-attrs="{&quot;id&quot;:209935040,&quot;url&quot;:&quot;https://davidwolf.substack.com/p/welcome-back&quot;,&quot;publication_id&quot;:1367281,&quot;embedding_publication_id&quot;:6164718,&quot;publication_name&quot;:&quot;the wolf of wall street (lower case)&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!0t2m!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdc90325b-72c9-4933-b0f8-66e73fe93a62_533x599.jpeg&quot;,&quot;title&quot;:&quot;Welcome Back&quot;,&quot;truncated_body_text&quot;:&quot;(For the best experience, read on the website here).&quot;,&quot;date&quot;:&quot;2026-08-09T21:10:49.706Z&quot;,&quot;like_count&quot;:6,&quot;comment_count&quot;:1,&quot;bylines&quot;:[{&quot;id&quot;:85612620,&quot;name&quot;:&quot;David Wolf&quot;,&quot;handle&quot;:&quot;davidwolf&quot;,&quot;previous_name&quot;:null,&quot;photo_url&quot;:&quot;https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/dc90325b-72c9-4933-b0f8-66e73fe93a62_533x599.jpeg&quot;,&quot;bio&quot;:&quot;Born in Washington, DC. BA in Philosophy, Williams College. Resident of S&#227;o Paulo, Brazil. 35 years trading, including Armor Capital, Lentikia Capital, Unibanco, Black River Asset Management, Cargill Inc., PaineWebber Inc.&quot;,&quot;profile_set_up_at&quot;:&quot;2022-05-26T20:42:10.149Z&quot;,&quot;reader_installed_at&quot;:&quot;2023-03-04T21:49:32.459Z&quot;,&quot;publicationUsers&quot;:[{&quot;id&quot;:1328380,&quot;user_id&quot;:85612620,&quot;publication_id&quot;:1367281,&quot;role&quot;:&quot;admin&quot;,&quot;public&quot;:true,&quot;is_primary&quot;:true,&quot;publication&quot;:{&quot;id&quot;:1367281,&quot;name&quot;:&quot;the wolf of wall street (lower case)&quot;,&quot;subdomain&quot;:&quot;davidwolf&quot;,&quot;custom_domain&quot;:null,&quot;custom_domain_optional&quot;:false,&quot;hero_text&quot;:&quot;A macro market newsletter written by a market maven to help you make money and have fun, with no surprises..&quot;,&quot;logo_url&quot;:&quot;https://bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com/public/images/dc90325b-72c9-4933-b0f8-66e73fe93a62_533x599.jpeg&quot;,&quot;author_id&quot;:85612620,&quot;primary_user_id&quot;:85612620,&quot;theme_var_background_pop&quot;:&quot;#FF0000&quot;,&quot;created_at&quot;:&quot;2023-01-31T21:07:08.023Z&quot;,&quot;email_from_name&quot;:null,&quot;copyright&quot;:&quot;David Wolf&quot;,&quot;founding_plan_name&quot;:null,&quot;community_enabled&quot;:true,&quot;invite_only&quot;:false,&quot;payments_state&quot;:&quot;disabled&quot;,&quot;language&quot;:null,&quot;explicit&quot;:false,&quot;homepage_type&quot;:&quot;magaziney&quot;,&quot;is_personal_mode&quot;:false,&quot;logo_url_wide&quot;:null}},{&quot;id&quot;:10639632,&quot;user_id&quot;:85612620,&quot;publication_id&quot;:10362001,&quot;role&quot;:&quot;admin&quot;,&quot;public&quot;:true,&quot;is_primary&quot;:false,&quot;publication&quot;:{&quot;id&quot;:10362001,&quot;name&quot;:&quot;David's Substack&quot;,&quot;subdomain&quot;:&quot;wolfphoto&quot;,&quot;custom_domain&quot;:null,&quot;custom_domain_optional&quot;:false,&quot;hero_text&quot;:&quot;Photography and nostalgia&quot;,&quot;logo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/75d04217-f6aa-4c01-91e5-afa7c73c1e65_1280x1280.png&quot;,&quot;author_id&quot;:85612620,&quot;primary_user_id&quot;:null,&quot;theme_var_background_pop&quot;:&quot;#FF6719&quot;,&quot;created_at&quot;:&quot;2026-08-05T14:59:35.206Z&quot;,&quot;email_from_name&quot;:null,&quot;copyright&quot;:&quot;David Wolf&quot;,&quot;founding_plan_name&quot;:null,&quot;community_enabled&quot;:true,&quot;invite_only&quot;:false,&quot;payments_state&quot;:&quot;disabled&quot;,&quot;language&quot;:null,&quot;explicit&quot;:false,&quot;homepage_type&quot;:&quot;newspaper&quot;,&quot;is_personal_mode&quot;:false,&quot;logo_url_wide&quot;:null}}],&quot;twitter_screen_name&quot;:&quot;jdw100&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null,&quot;status&quot;:{&quot;bestsellerTier&quot;:null,&quot;subscriberTier&quot;:1,&quot;leaderboard&quot;:null,&quot;vip&quot;:false,&quot;badge&quot;:{&quot;type&quot;:&quot;subscriber&quot;,&quot;tier&quot;:1,&quot;accent_colors&quot;:null},&quot;subscriber&quot;:null}}],&quot;utm_campaign&quot;:null,&quot;belowTheFold&quot;:true,&quot;type&quot;:&quot;newsletter&quot;,&quot;language&quot;:&quot;en&quot;,&quot;source&quot;:null}" data-component-name="EmbeddedPostToDOM"><a class="embedded-post" native="true" href="https://davidwolf.substack.com/p/welcome-back?utm_source=substack&amp;utm_campaign=post_embed&amp;utm_medium=web&amp;embedding_publication_id=6164718"><div class="embedded-post-header"><img class="embedded-post-publication-logo" src="https://substackcdn.com/image/fetch/$s_!0t2m!,w_56,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fdc90325b-72c9-4933-b0f8-66e73fe93a62_533x599.jpeg" loading="lazy"><span class="embedded-post-publication-name">the wolf of wall street (lower case)</span></div><div class="embedded-post-title-wrapper"><div class="embedded-post-title">Welcome Back</div></div><div class="embedded-post-body">(For the best experience, read on the website here&#8230;</div><div class="embedded-post-cta-wrapper"><span class="embedded-post-cta">Read more</span></div><div class="embedded-post-meta">2 months ago &#183; 6 likes &#183; 1 comment &#183; David Wolf</div></a></div><p style="text-align: center;"></p><div id="youtube2-crNcV0k0aMQ" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;crNcV0k0aMQ&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/crNcV0k0aMQ?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><div id="youtube2-OdKpZWiiye8" class="youtube-wrap" data-attrs="{&quot;videoId&quot;:&quot;OdKpZWiiye8&quot;,&quot;startTime&quot;:null,&quot;endTime&quot;:null}" data-component-name="Youtube2ToDOM"><div class="youtube-inner"><iframe src="https://www.youtube-nocookie.com/embed/OdKpZWiiye8?rel=0&amp;autoplay=0&amp;showinfo=0&amp;enablejsapi=0" frameborder="0" loading="lazy" gesture="media" allow="autoplay; fullscreen" allowautoplay="true" allowfullscreen="true" width="728" height="409"></iframe></div></div><p style="text-align: center;"></p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;ea58d7bd-0b30-44d3-a847-833a0312b5ef&quot;,&quot;caption&quot;:&quot;Este post est&#225; sendo atualizado &#224; medida que novas carteiras forem divulgadas. &#218;ltima atualiza&#231;&#227;o 12h00 - 06/08&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;lg&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;Carteiras sugeridas para agosto&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:393914207,&quot;name&quot;:&quot;Ana Clara Lima do Nascimento&quot;,&quot;bio&quot;:null,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/3f195ec5-08c2-44d6-8fc9-f288b9ca0144_420x420.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-08-04T16:12:43.224Z&quot;,&quot;cover_image&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/7e043db4-286f-43f2-bf14-c4f605629732_1600x840.jpeg&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://www.tradenews.com.br/p/carteiras-sugeridas-para-agosto&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:209781750,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:0,&quot;comment_count&quot;:0,&quot;publication_id&quot;:6164718,&quot;publication_name&quot;:&quot;TradeNews&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!IZ8Z!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb6e3fcd3-0cf5-4e1f-a8bc-931992edd347_582x582.png&quot;,&quot;belowTheFold&quot;:true,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><h1 style="text-align: center;">MEMOLOGY</h1><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!-XqU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9ac6d3a7-5e09-4b06-a498-4410ea1fb7d7_1514x962.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!-XqU!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9ac6d3a7-5e09-4b06-a498-4410ea1fb7d7_1514x962.jpeg 424w, https://substackcdn.com/image/fetch/$s_!-XqU!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9ac6d3a7-5e09-4b06-a498-4410ea1fb7d7_1514x962.jpeg 848w, 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