While my colleagues at Business Monitor believe developed-state equity markets will outperform EM equities in 2011, they still believe it is still too early to call the end of the EM equity rally, and I tend to agree with them. True, many Latin American bourses look expensive, and this contrasts starkly to developed states, where… [Read more]
While my bullish Latin American fixed income views have played out really well of late, other Latin American asset classes have been much harder to call. A case in point has been Brazil’s Bovespa equity index which, despite the rapid sell-off in April and May is trading pretty much where it started the year. I… [Read more]
In this week’s Business Monitor Podcast ‘role-reversal’ Terry Alexander, Head of Country Risk and Capital Markets at Business Monitor, interviews Mark Schaltuper, Head of Latin American Markets, on the investment outlook for Brazil in 2010. With much of the ‘Great Brazil Hype’ already priced in, Mark argues that the tide may be turning for Brazilian… [Read more]
Last week my colleagues at Business Monitor and I took off our bullish key market view of the Brazilian Bovespa index, following gains of around 13.8%. The monthly chart, which was run in the Latin America section of Business Monitor Online, highlights the strong potential of a major reversal. The accompanying chart below is the… [Read more]
Me and my colleagues at Business Monitor have remained outright bullish the Brazilian Bovespa since early August – a view which continues to look very strong in the BMI portfolio. At some point today, the position was up 10.4%, and continues to head towards BMI’s 64,000 target, following a strong weekly close last week (at… [Read more]
Today, BMI’s illustrious Key Markets View portfolio welcomes four new members – Long S&P Financials, Long Brazilian Bovespa, Long Korean Won, and Long Zambian Kwacha. There may be more to come, because there are still a lot of opportunities across asset markets. Have a look at a long-dated Nikkei chart, or some of the industrial… [Read more]
Foreign portfolio investment started to return to Brazil in March, following six consecutive months of portfolio investment outflows, in which a total of US$23bn fled the country, triggered by the Emerging Market-wide sell-off in September 2008. Indeed, the March-June 2009 period coincided with the rally in global equities, which saw US$6.3bn in portfolio inflows enter… [Read more]
