Bloomberg Brazilians may be a year away from voting for their next president, but investors are already plenty worried. Measures of implied volatility for the currency show traders pricing in big swings around the October 2018 vote, even as calm pervades in the near term. The split has taken the ratio between one-year and six-month implied volatility to the highest …

Donald Trump will always tell you that he is a “great builder.” “You can go ahead and speak to the guys who have 400-pound wives at home who are jealous of me,” he told me several years ago. “But the guys who know me know I’m a great builder.” A month before he announced his presidential candidacy in 2015, Trump …

It’s telling that at the moment Jalal Talabani, the former Iraqi president and Kurdish revolutionary, drew his last breaths, Iranian tanks were amassing on the border of Iraqi Kurdistan. In the Kurdish civil war of the 1990s, Talabani’s faction, the Patriotic Union of Kurdistan, aligned with Iran. The Iranians tacitly supported Kurdish independence. After the liberation of Iraq in 2003, …