Mexican Bureaucrats Outsmart Wall Street Oil Traders: Five Things We Learned This Week

Every year, through a series of secret deals, a small group of Mexican government officials make the world’s largest and best-concealed oil trade. As representatives of one of the world’s top oil exporters, “the men from Hacienda” can make smarter bets than hedge funds and Wall Street traders, Bloomberg’s Javier Blas reports. Their excellent U.S. connections in banking and politics help them predict the market. The trade’s notional value over the last decade has added up to $163 billion. “It’s the deal that all banks wait for each year,” says Richard Fullarton, founder of commodity fund Matilda Capital Management. “It’s so large that it can make or break their year.”

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