Investors

Brazil's Jair Bolsonaro is making investors nervous

Jair Bolsonaro
Brazilian President Jair Bolsonaro. Photo: Mandel Ngan/AFP/Getty Images

The CEO of Brazil's state-controlled oil company Petrobras says there was no government interference in the company's decision not to increase the price of diesel after he received a phone call from President Jair Bolsonaro.

Details: Castello Branco, Petrobras' CEO, said Bolsonaro simply warned him during the call about the risks of a potential new truckers' strike if diesel prices rose, Reuters reports.

Investors remain bullish in the face of IMF fears

Illustration: Lazaro Gamio/Axios

In a seemingly coordinated effort, IMF managing director Christine Lagarde, deputy managing director David Lipton and chief economist Gita Gopinath all worried aloud about the "delicate" state of the world's economies at last week's spring meeting in Washington.

What's happening: The IMF cut its global growth forecast for the 3rd time in 6 months to its lowest estimate since the financial crisis, but fund managers and analysts who were in Washington for the event seemed to largely disregard the foreboding. They're bullish.