EMerging Equity
Petrobras
Downgrade Points To Continued Brazil Underperformance
By Marc Chandler, Marc to Market Blog (from my colleague Dr. Win Thin) Fitch’s downgrade on Wednesday is a stark reminder that Brazil continues to suffer from a toxic mix of high inflation, recession, low commodity prices, and heightened political uncertainty. Because we see no end in sight for these negative factors, we believe Brazil assets will … Continue reading
What To Expect On The Fed’s Decision Day
By Jeffrey Moore The Federal Reserve is set to raise rates today for the first time in nine years. So how could the Fed’s decision affect markets and politics as the world moves into 2016? On December 15th, the Federal Open Market Committee (FOMC) began its two-day meeting that will result in a widely anticipated policy … Continue reading
Brazilian ETFs See Inflows After Impeachment Talks
By James Eugene Brazilian-focused exchange traded funds (ETFs) have recorded relatively large amounts of inflows after talks of Dilma Rousseff’s impeachment advanced. According to data compiled by Bloomberg, the iShares MSCI Brazil Capped ETF enjoyed inflows of just over $94 million so far this month, approximately 4.7% of its market capitalisation. The iShares Ibovespa, … Continue reading
Brazil’s Energy Profile – Analysis
By EIA In 2014, Brazil was the eighth-largest energy consumer in the world and the third-largest in the Americas, behind the United States and Canada, according to BP statistics. Total primary energy consumption in Brazil has nearly doubled in the past decade1 because of sustained economic growth. The largest share of Brazil’s total energy consumption … Continue reading
Mark Mobius On Latin America
By Mark Mobius, Templeton Emerging Markets Group This month, the World Bank and the International Monetary Fund (IMF) will hold their joint annual meeting in Lima, Peru, marking the first time such an event has been held in Latin America in almost 50 years. The organizations’ annual meeting provides a forum for finance ministers and central bank … Continue reading
Is Glencore The Next Lehman? The World’s Largest Commodities Trading Company Is Toast
By Michael Snyder Are we about to witness the most important global financial event since the collapse of Lehman Brothers in 2008? Glencore has been known as the largest commodities trading company on the entire planet, and at one time it was ranked as the 10th biggest company in the world. It is linked to … Continue reading
Petrobras: Bill Gates Apologises To Roussef For Litigation “Misunderstanding”
After various online publications reported that the Gates Foundation started a series of U.S. class-action litigation claiming that years of corruption, including bribery, inflated the value of more than $98 billion of its stock and bonds as a “pervasive bribery and money laundering scheme”. The foundation allegedly would be suing Petrobras independently, suggesting this may … Continue reading
In Brazil, The Risk Of Impeachment For Rousseff Looms Large
By Stratfor Global Intelligence The ongoing corruption scandal at state-owned energy firm Petroleo Brasileiro, or Petrobras, could pose a real political risk to Brazilian President Dilma Rousseff, particularly as Brazil’s economic conditions worsen. The ruling Workers’ Party will have to cope with a stagnating, if not declining, economy for at least two more years, dwindling … Continue reading
The Political Cost Of Corruption In Brazil
By Stratfor Global Intelligence In the wake of Brazil’s oil corruption scandal, the country’s ruling political coalition has all but fallen apart. The ongoing investigation of corruption charges against state-owned energy giant Petroleo Brasileiro has the Brazilian Democratic Movement Party (PMDB), a long-time ally of the ruling Workers’ Party, distancing itself from Brazilian President Dilma … Continue reading
A Look At South America’s Future Transcontinental Railway
By Martin De Angelis A recently signed tri-lateral agreement between China, Peru and Brazil set hopes for a bi-oceanic railway corridor. If feasible, the project would significantly reduce trade costs and shipping times to China. On May 23rd, China’s Prime Minister Li Keqiang met with Peruvian President Ollanta Humala to sign the implementation of feasibility studies on a bi-oceanic … Continue reading
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