Covid-19 rages. The president appears on horseback demanding the supreme court be disbanded. And Brazil’s stock market is—beating the world?
Strange but true. The iShares MSCI Brazil exchange-traded fund has surged by 40% over the past month, while global emerging markets advanced 13%. Few investors are expecting more of the same, though. “A lot of the easy money from the rebound has passed,” says Verena Wachnitz, a portfolio manager for Latin American equities at T. Rowe Price. Brazilian stocks are still down... Subscribe or Sign In to continue reading.
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