Countries In-Depth
Brazil: A Band-Aid, But Not A Cure (Part II)
Any additional fiscal tightening and further rate hikes might serve as a band-aid, but not a cure, to Brazilian markets. The country’s risk assets and the currency will continue to face headwinds from an impending recession, a strengthening USD, weak commodity prices, and worsening public debt dynamics. Investors should fade out any relief rallies in Brazilian markets for now.
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