Kenneth Rapoza – The Financial Times, 07/06/2016
“Green shoots” are appearing in the rubble that is the Brazilian economy.
Despite Tuesday’s smackdown from the surprising drop in oil prices, some new numbers out of Brazil today show a bottom may have been reached.
Granted, many fund managers have called a bottom in Brazil now for the past 12 months. But now that the impeachment process is winding down, and it looks like Dilma Rousseff will indeed be impeached within the next four to six weeks, investors are onto other things. One is looking for signs that Latin America’s largest economy can survive weaker demand from China and a political corruption probe involving Brazil’s biggest company — Petrobras. Today’s data is the best news one can get out of Brazil.