Why You Shouldn’t “Invest” In 3X ETFs: Exhibit “B”

On Friday, people are buying the "Brazil just proved their political crisis is intractable" dip. Fresh off an exceptionally harrowing session that tripped circuit breakers and threatened to plunge the entire EM complex into chaos, the Ibovespa jumped nearly 3% as investors went "bargain" hunting in Latin America's largest economy. As noted earlier, Michel Temer insists that what you thought you heard on those tapes isn't what you actually heard and apparently that's good enough for traders.