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Emerging MarketsEM LatAm

Petrobras CEO saga sends bonds tumbling as fiscal fears mount

Petrobras, Brazil, truck, oil, gas, fuel, energy, diesel, prices, LatAm, 575

Petrobras bonds slumped on Monday after Brazil's president Jair Bolsonaro nominated retired general and former defence minister Joaquim Silva de Luna to be the state-owned oil and gas giant’s new CEO. One analyst decried “corporate statism” as others saw the decision as a warning about the direction of Brazil’s fiscal policy.

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