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1.Market Observations, 8.Was Sticky

22 Dec 2015 (AFR) – Brazil’s new finance minister spurs instant rout

(22 December 2015, AFR, p29, by Raymond Colitt and Anna Edgerton)

‘Nelson Barbosa could, of course, turn out to be the man who fixes Brazil’s finances, tames soaring inflation and revives the sinking economy, but investors sure aren’t betting on it. As word spread across Sao Paulo trading floors Friday that Barbosa would be the country’s next finance minister, replacing the beleaguered Joaquim Levy, markets plunged. By day’s end, the currency was down 2.6 per cent, stocks 3 per cent.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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