Tax collection is falling short. Their fucking tinpot President is facing impeachment. Their markets have surged 21% over the past month alone.
This is Brazil.
The deficit before interest payments, which includes results of states, municipalities and government-owned companies, reached 23 billion reais ($6.4 billion) in February following a stronger than estimated surplus of 27.9 billion reais in January, the central bank said Wednesday. Analysts surveyed by Bloomberg expected a gap of 11 billion reais.
“There’s expectation that more parties will follow PMDB and leave the president,” said Jason Vieira, the chief economist at Infinity Asset Management in Sao Paulo. “Investors don’t care who the leaders are. They’re interested in seeing an improvement in economic policies.”
The best performing Brazilian stocks, over the past month, that trade here are: GGB (+87%), PBR (+70%), SID (+63%), CIG (+59%), VALE (+52%), BBD (+48%), GOL (+47%) and ELP (+43%).
The main Brazilian ETF, EWZ, is up 34% for the month.
Following the Brazilian market, Turkey ranks #2 in year to date performance, up 15.5%–because everyone wants to invest in a country wrought with migrants and psychotic head cutters running around–blowing up people in strip malls.
Retarded.
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…and just got stopped out most of my ERY long at the low of the day like the chump that I am. Still profitable but PO’d nonetheless.
Still holding the Apr 22 calls in my fun account (flat on them). Feeling a bit of ride or die on it now, which almost always means I die.
Turkey is probably up because their balance of payments is in surplus by forcing the Zeros (Euros) to pay up or else they will send in more “refugees”. This is Turkey’s main export these days.
As far as Brazil goes, their primary employment income (using the terms losely-sic.) is robbery and kidnappings. Should be a fun Olympics to watch.
Long $VALE FROM 3.87. Think it sees 5 possibly 6 before it pauses again
If the political state of a country mattered to its economy and market, I wouldn’t be long U.S. stocks right now. Government has mostly ground to a halt here. The Right Wingers who control Congress won’t even approve a fairly Right Wing Supreme Court justice nominee, just because Democratic president is the one who nominated him. And then there are the conflicts within parties in connection with the election.
But, apparently, the political state of a country doesn’t matter to its stock market very much. Or if it does, it has to be more extreme that what’s going on in the U.S., or even in Brazil or Turkey.
BTW, everyone I’ve met who has visited Brazil or Turkey seems to have loved them. Of course, with the current problems in Syria affecting Turkey too, it’s not the time to visit Turkey right now.
Loved Turkey. Beautiful west coast. Unfortunately, it is now ruled by a self-styled Ottoman despot.
I like how Ironbird is mean to you and then he makes it up by playing you a little song. This is a most interesting dynamic.
I just have to click on his YouTube links but ignore the rest.
There is probably something good or constructive in evreyone.
The tale of The Fight Between 2 Wolves.
http://www.firstpeople.us/FP-Html-Legends/TwoWolves-Cherokee.html
Modern psychology would revise the tale. The “bad” wolf is not really so bad. Maybe he just needs to exercise or do primal screams or find other ways to release his distress.
lolz *the frog blog sans links
All currencies are going to zero, which means all markets are going to infinity. QED