Over the past five years, Petrobras is the worst-performing major global oil stock. Down 86.5% over that period, Petrobras has no legitimate competition for worst-performing global oil major over that span.
Slack GDP estimates and a tumbling real are among the downside catalysts pressuring Brazilian stocks and EWZ. Brazil’s planning ministry attributes a major portion of the turn to the projected depreciation of about 21% in the real currency against the U.S. dollar. [Brazil ETF Slides, Bleeds Assets]
iShares MSCI Brazil Capped ETF
