It looks like Brazilian election will not be a squeaker as many thought. The PT machine has pulled it out and Rousseff looks to be victorious. Oil is down to $90/barrel and the BRL is weakening significantly. This is a double whammy for Petrobras, whose balance sheet is very weak, indeed.
Paul Schulte has had a career in equity research which spans 22 years on both the buy and sell sides covering the Asian and emerging markets. He also has 5 years of government policy experience in emerging markets. He has been frequently ranked in top-five…read more
