Petrobras (PBR, quote) announced that the company is boosting cashflow-negative and loss-leading gasoline imports at their fastest pace ever in attempt to hold down prices for alternative fuels, while trying to block investment in alternatives, or at least make investments in these kinds of products– namely, ethanol — unattractive.
We continue to see a powerful breakout in Brazil and with net short Ibovespa futures >$3.5B there is room for additional move.
Ever seen “Weekend at Bernie’s”? Go check it out. Meanwhile now that Chavez’ death is a formality how do you play Venezuelan markets, and what has truly changed?