Brazil M&A Deal Volume Drops 35% in H1 2026 as High Rates, Trade Uncertainty Bite

KPMG data shows 610 announced M&A transactions in Brazil in H1 2026, down 35% year-on-year, reflecting investor caution amid high interest rates, trade uncertainties, and upcoming elections. The decline signals a slowdown in deal activity, though middle-market deals remain notable. This suggests a cooling in Brazilian risk appetite and a potential drag on growth.