May 19, 2017 |
Recordings that implicate Brazilian President Michel Temer in a possible bribery scandal have hit the sovereign bonds and notes from the state-owned oil company Petrobras, casting doubts over the country's pipeline of trades.
Petrobras’ bonds were spotted some 50bp wider across the curve with its 2115 bond hit the hardest, debt capital markets bankers said. The century bond was down 8bp on Thursday at 83.25, while the shorter end of Petrobras’ curve had widened 4bp to 5bp, the bankers said.
President Michel Temer is implicated in a scheme to pay off former speaker of the house, Eduardo Cunha