"Rousseff's government fought to limit the scope of the congressional investigation. Using its majority on the committee it worked to prevent testimony from political allies and the president. Rousseff was chairwoman of Petrobras from 2003 to 2010 when much of the alleged graft took place."
you're forgetting the currency component, which nonetheless, seems to have disconnected from EWZ in the last couple of days, which is why I asked the question about currency hedges below
this morning and huge spreads, VALE is slightly up an PBR under short sale restriction, now it's the opposite situation and doesn't seem like should be down so much in the premarket
Well maybe not Brazil but PBR is dragging it down based precisely on short-term liquidity concerns.
They''ll be worked out for sure but not before the speculators take advantage of the panic to bend everybody else over.
It's called "plausible deniability", if you make sure you never get briefed on this kind of stuff then you can claim ignorance later.
Same deal w Bush and torture policies.
switched into EWZ a long time ago and taking my lumps there, but the PBR meltdown is truly scary
Well, at least the real-estate developers and luxury-car dealers in Miami probably did great over the last few years with the amount of their wares purchased with the Brazilian taxpayers' and PBR shareholders' money..
I also have/had many lots from earlier, took advantage of the rise to 54 to unload some of those, so much better positioned to average down this time around. Could drop another 20% and still wouldn't get margin calls. Not that it will be enjoyable watching it happen if it does.
real is getting effed today, surprised it's not down more actually, looks like Wall street came to the rescue for a bit
About the only good news is I got filled at both 37.01 and 36.51, right at the LOD, rare thing w HFTs effin around w their hide-not-slide orders..
Makes sense, thanks, forgot they have like twice as many holidays down there
20 de novembro de 1889, proclamacao da republica, i should know this stuff
I respect PwC ( used to work for them), but they do have an incentive to make their projections on the optimistic side vis-a-vis more business from governments, companies that contract for governments, etc..