In the topsy-turvy world of investing it appears that bad might just mean good.
Despite an economic and political crisis, the stock exchange of Brazil has managed to clock the largest percentage gain so far this year amid major volatility for other global indexes. The main stock index, the Bovespa, is set to finish the first quarter on Thursday with a rise of around 20 percent in U.S. dollar terms.
The country's Companhia Siderurgica Nacional (CSN), primarily engaged in the steel industry, has led those gains with a rise of 85 percent year-to-date after piggybacking on the rebound in metal prices.
But that doesn't truly tell the story of Brazil's economy.