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Archive for the ‘Business in Brazil’ Category

For those who doubted it, the politicians convicted of corruption in Brazil are really going to jail.  Brazil’s Supreme Court has begun handing down sentences in a landmark corruption trial, according to a report in Wednesday’s Wall Street Journal.  The trial, which has gone on for months, centers on charges going back seven years that senior government officials, bankers and consultants conspired to divert public money to buy votes in Congress and fund campaigns during the presidency of Luiz Inácio Lula da Silva.  Big wowser!  The only question that remains is, where is Lula?

Read The Wall Street  article here:

http://on.wsj.com/RQ5DLU

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Brazilian company bonds reached 6.12 years this October exceeding all other BRIC countries. Corporate bonds in Brazil are becoming more vulnerable to losses than any major developing nation as companies exploit record-low borrowing costs to sell the longest-dated overseas debt in three years. While bond investors turn to Brazil in search of higher returns as the U.S. Federal Reserve pledges to keep interest rates near zero into 2015 to bolster growth, a rise in U.S. government bond yields would result in the biggest corporate debt losses of any so-called BRIC nation. Investors have snapped up 30-year securities from companies as varied as Vale SA (VALE3) and Odebrecht SA, helping push the average maturity for Brazilian issues this year to 11.03 years, even as the country is forecast to grow at one- third the pace of the other BRICs.

Read Boris Korby and Drew Benson’sBloomberg article here: http://bloom.bg/Ty6cbZ 

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