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Itau on Petrobras: “10% Price Hike is Just Not Enough” 27 Aug 2013 | 09:37 pm
The Brazilian government hasn’t made a decision on adjusting the price Petrobras uses to sell gasoline and diesel to distributors, Mantega said today at an event in Sao Paulo. Petrobras subsidizes imp...
Chart: When Central Bankers Go Bananas 27 Aug 2013 | 01:18 am
So this is interesting… early this year the Brazilian central bank was proud of itself (see their own PPT presentation below) for “winning the currency war” as it was able to bring the Real from 1.63 ...
“Brazil close to experience its own Subprime,” says IMF economist in interview 23 Aug 2013 | 04:05 am
According to Pedro Videla, a consultant to the IMF, the World Bank and a professor at the Iese School of Economics and Business, in Spain, Brazil failed miserably to make structural changes to increas...
Chart: Brazil became 20% less expensive for foreigners in 2013 22 Aug 2013 | 02:13 am
The chart below shows the action in the U.S. dollar-Brazilian real exchange rate in 2013, including the big surge today on the far right.
Sell US Strength, Buy European Weakness 20 Aug 2013 | 09:33 pm
By Jay Pelosky (via Itau Global Connections). Summer’s last days are upon us, and as we prepare for a change in season we should also consider a change in financial asset leadership. The long run of U...
Brazil: Economic Contraction in 3Q/4Q Likely 20 Aug 2013 | 01:23 am
There is great risk of a negative GDP in Brazil in 3Q. Analysts said that a potential economic contraction between July and September will reflect the drop in confidence of consumers and businesses, b...
The “great rotation” makes the Brazilian Real vulnerable to further losses; R$2,70/dollar by year’s end seems realistic 16 Aug 2013 | 12:16 pm
According to BAML’s currency strategists, a ”rotation from bonds into equities seems inevitable to us, and it could be a great rotation taking into account the huge bond inflows since the global finan...
BAML: Here are some contrarian trades we recommend for August 15 Aug 2013 | 01:00 pm
According to BAML chief investment strategist Michael Hartnett, it is time to buy the “Crash Test Dummies.” What does he mean? “In our view, the summer decline in bonds, [emerging markets] & gold (the...
Technicals: Volatility indicator signaling a big move in S&P500 soon 15 Aug 2013 | 01:53 am
Volatility has been extremely low lately in US equity markets… for all the chartists and technical analysts reading, look at the Bollinger Bandwidth (BB) below. The first graph shows the VIX (“fear in...
Could last week have marked the bottom for emerging market equities underperformance? 15 Aug 2013 | 01:11 am
I know, this sounds a very big call, but it’s just a possibility that August 7th could have put an end to the emerging equities underperformance. This is not to say we are bullish on EMs yet because w...
