IMF Says Brazil Must Pursue Austerity, Meet Targets ‘Fiscal consolidation should proceed without delay,’ International Monetary Fund says By PAULO TREVISANI/WSJ May 12, 2015 5:33 p.m. ET BRASÍLIA—Brazil’s government needs to implement its plans to improve its financial situation and bring price increases under control to help restore confidence, competitiveness and growth to the economy,... Continue Reading →

Oil's Not Coming Back. Here's Why By Moming Zhou/Bloomberg 8:01 PM BRT May 12, 2015 Oil bulls who’ve cheered a rebound of 40 percent from a six-year low should take heed: Unless demand accelerates, the rally is in danger. The omens aren’t good. The U.S. government expects global consumption to grow next year at less than half... Continue Reading →

Brazil Selic to Stay High Until Inflation Nears Target, IMF Says by David Biller/Bloomberg 6:31 PM BRT May 12, 2015 Brazil’s monetary policy will remain tight until inflation approaches the mid-point of the central bank’s target range, the International Monetary Fund said in a report Tuesday. While inflation is expected to converge to the 4.5... Continue Reading →

Brazil’s Currency Volatility Rises as Levy Faces Fiscal Concern By Paula Sambo/Bloomberg 10:38 AM BRT May 12, 2015 Brazil’s currency volatility climbed for a second straight day amid speculation Finance Minister Joaquim Levy will face obstacles in his attempt to reduce budget deficits and preserve the nation’s investment-grade status. One-month implied volatility on options for... Continue Reading →

Goldman Sachs throws a wet cloth on the oil rally FT Goldman Sachs thinks the oil rally should be burning out. The bank's influential oil analyst team, led by Jeffrey Currie and Damian Courvalin in New York, say that while the 40 per cent rally since January has been impressive, markets are still oversupplied and... Continue Reading →