In this week’s issue: Brazilian Real gains more value in 2019 than any other currency. Are foreigners short-selling Brazil’s stock market?
The week in review
- Embraer. President Jair Bolsonaro gave the greenlight for the Boeing-Embraer merger. The two companies will create a joint venture (of which the American planemaker will hold an 80% stake). The deal will not involve Embraer’s defense nor executive jet divisions. This piece of news pushed Embraer’s stock up 2.57%, but S&P has threatened to downgrade the company.
The ratings agency believes the deal will weaken the company and its credit quality,...