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Tag Archives: Brazil

For The Dollar, Not How Much But How Long Therefore How Familiar

Brazil’s stock market was rocked yesterday by politics. The country’s “populist” President, Jair Bolsonaro, said he was going to name an army general who had served with Bolsomito (a nickname given to him by supporters) during that country’s prior military dictatorship as CEO of state-owned oil giant Petróleo Brasileiro SA. Gen. Joaquim Silva e Luna is being installed, allegedly, to facilitate more direct control of the company by the federal government.With the economy still gripped by the...

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14/2/21: COVID19 Update: BRIICS

 In previous posts, I covered the latest data for weekly Covid19 pandemic dynamics for:Global data and trends: https://trueeconomics.blogspot.com/2021/02/14221-covid19-update-worldwide-data.html;European & EU27 data and trends: https://trueeconomics.blogspot.com/2021/02/14221-covid19-update-europe-and-eu27.html; andData and trends for the most impacted countries and regions: https://trueeconomics.blogspot.com/2021/02/14221-covid19-update-most-impacted.html.Now, let's take a closer look...

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14/2/21: COVID19 Update: Most impacted countries

Previous posts on the COVID19 update covered global numbers and trends (https://trueeconomics.blogspot.com/2021/02/14221-covid19-update-worldwide-data.html) and European & EU27 trends (https://trueeconomics.blogspot.com/2021/02/14221-covid19-update-europe-and-eu27.html).Here are some comparatives across all countries with the highest rates of detected infections (> 5% of population):Note: I highlighted countries with > 10 million population.Another way of looking at this is to take...

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Dozens of Prominent Organizations and Academics Pressure Biden on Human Rights in Brazil

Last week, the US Network for Democracy in Brazil (USNDB) delivered a white paper to the Biden White House, its “Recommendations on Brazil to President Biden and the New Administration.” The wide-ranging document, covering issues such as the environment, human rights, and the rule of law, urges the new administration to make a fundamental break with Trump-era policies toward the Bolsonaro government. Dozens of academics from major American universities endorsed or contributed to the document,...

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Subdued Activity as New Incentives Awaited

Overview:  After rallying strongly to start the year, Asia Pacific equities, led by the high-flying Hang Seng, sold-off, led by Tencent.  Most markets in the region were off at least 1%.  Australia and India escaped the profit-taking due to holidays.  Europe's Dow Jones Stoxx 600 is faring better and looks poised to snap a two-day fall, led by materials, financials, information technology, and consumer staples.  US shares are trading a little heavier.  The US earnings season picks up today,...

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No Talk In The Dollar Shadows

The company isn’t bankrupt, it just doesn’t have the right currency in its reach to repay debts coming due. YPF is Argentina’s (former) gold mine, in this case the black gold of energy exploitation. State-owned, the business has obviously close ties to the ruling powers-that-be and a privileged place to go along with them. Its formal name, Yacimientos Petrolíferos Fiscales, literally translates as “fiscal oilfields.”But no matter the primo spot in the Argentinian hierarchy, no government...

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Even When She Speaks Softly, She’s Yellen

Overview: The animal spirits are on the march today.  Equities are mostly higher, peripheral European bonds are firm, and the dollar is mostly softer. After posting the first back-to-back decline this year, the MSCI Asia Pacific Index bounced back today, led by a 2.7% gain in Hong Kong (20-month high) and a 2.6% rise in South Korea's Kospi.  The Nikkei and Taiwan's Stock Exchange rose by more than 1%.  Europe's Dow Jones Stoxx 600 eked out a small gain yesterday and is a little higher...

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“Brazil is Broken”: Bolsonaro, COVID, and the Looming Return to Austerity

As the New Year begins and Brazil officially passes 200,000 COVID deaths, far-right Brazilian president Jair Bolsonaro announced with his characteristic bluntness: “Brazil is broken. I can’t do anything.” While blaming the media for exaggerating the threat of the coronavirus, Bolsonaro complained that COVID had prevented him from further pursuing the structural adjustments and austerity policies that characterized the pre-COVID phase of his presidency. At the same time, Bolsonaro’s...

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Being Specific About Dollar Specifics

Last week, IHS Markit reported that sentiment in Mexico’s factory sector had slipped again during December 2020. The organization’s manufacturing PMI had declined for the second straight month, having peaked recently back in October. Even then, the index hadn’t yet come close to crossing the magic 50 dividing line. The best it had managed during this global rebound was a mere 43.6.This sentiment data correlates closely enough to the Mexican government’s statistics. According to that...

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6/1/21: BRIC: Composite Economic Indicators: 4Q 2020

Manufacturing PMIs for BRIC economies for 4Q 2020 are discussed here: https://trueeconomics.blogspot.com/2021/01/4121-bric-manufacturing-pmis-4q-2020.html.Services PMIs are covered here: https://trueeconomics.blogspot.com/2021/01/6121-bric-services-pmis-4q-2020.html.Now, Composite PMIs:Brazil Composite PMI rose from 51.6 in 3Q 2020 to 54.4 in 4Q 2020, marking second consecutive quarter of > 50.0 readings. Average 4 quarters PMI stands at 46.2, suggesting that Brazil's economy has not,...

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