Brought to you by Quest Offshore & Southern Cone Consultants
Brazil is well prepared to cope with any market volatility resulting from a U.S. interest rate rise, Finance Minister Joaquim Levy said on Monday. Levy told a meeting in Madrid that Brazil's banks were well capitalized and it has large foreign exchange reserves. "That reassures us that even if there starts to be volatility after... Continue Reading →
The Brazilian Real closed at 13 year high at R$3.8585 against the USD. For the week the Brazilian currency devalued 7.62%, for the year at 45.07% and for the 12 months at 72.06%. The currency has taken a beating caused basically by the lack of political stability, besides the economic problems caused by poor economic... Continue Reading →
Brazil’s real extended its weekly decline to the biggest since March as assurances that Finance Minister Joaquim Levy would remain in his post failed to quash concern the country will lose its investment-grade rating. The currency swung between gains and losses Thursday before Chief of Staff Aloizio Mercadante said that the architect of Brazil’s efforts to... Continue Reading →
Brazil’s political and economic crises are creating one bright spot for finance bankers and lawyers looking for work: Firms including Rothschild and G5 Evercore are hiring to help ailing companies restructure their debt. Boutique advisory firm G5, in which Evercore Partners Inc. has a 47 percent stake, hired Ricardo Moura and Marcio Santiago Goncalves, former... Continue Reading →
Brazil has stronger credit dynamics than lower-rated nations and an outlook for economic and fiscal recovery that would make a reduction to a junk grade unjustified, Moody’s Investors Service said. When Moody’s gave Brazil a stable outlook after reducing its credit rating last month to Baa3, its lowest investment grade, it found that the nation... Continue Reading →
Brazil is likely to halt one of the world's most aggressive rate-hiking cycles on Wednesday, sparing more suffering to a contracting economy despite fears a deepening fiscal crisis could keep inflation high. All but one of the 30 economists surveyed by Reuters last week expected the central bank to hold its benchmark Selic rate at... Continue Reading →
Bonds | Tue Sep 1, 2015 11:27am EDT Reuters UPDATE 1-Brazil reinstates IOF tax on state bank BNDES loans (Reuters) - The Brazilian government on Tuesday reinstated a 1.5 percent financial transaction tax on loans from state development bank BNDES , part of efforts to discourage subsidized lending and narrow the country's swelling budget deficit.... Continue Reading →
Bonds | Tue Sep 1, 2015 10:39am EDT Reuters Fitch says Brazil's slipping budget target shows fiscal trouble The Brazilian government's first-ever budget bill with a primary deficit underscores the growing risks to its public finances, a Fitch Ratings analyst said on Tuesday, adding to concerns that the country could lose its investment-grade credit rating.... Continue Reading →
The outlook for Petroleo Brasileiro SA worsened further after UBS AG cut its earnings projection by 80 percent, spurring a slide in the oil producer at the center of Brazil’s largest graft probe. The Ibovespa followed a selloff in global stocks. Shares of Petrobras extended a plunge over the past year to 63 percent, more... Continue Reading →
The Brazilian currency is heading for the second worse monthly performance since 1999. At 3:13 pm, this 31st of August, the real was down 1.38% or approximately 6% for the month of August, to R$3.6347 for one US dollar. For the year, the Real is the worst performing currency against the USD in a list... Continue Reading →
Brazil Energy Insight 