Brazil's President-elect Jair Bolsonaro attends a joint news conference with Brazil's President Michel Temer (not pictured) at the Planalto Palace in Brasilia, Brazil November 7, 2018. REUTERS/Adriano Machado
RIO DE JANEIRO (Reuters) - Brazil's Congress is unlikely to pass pension reform legislation this year, far-right President-elect Jair Bolsonaro said on Monday, a blow to investor hopes that caused the country's currency to weaken in futures markets.
Investors snapped up Brazilian assets in the wake of Bolsonaro's election victory last month, cheered by his party's stronger-than-expected showing in congressional races, which raised hopes he could make quick advances on fiscal reforms.
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