Brazil
Brasilia’s Dilemma…
Highlights Barring dramatic policy actions, the ratio of public debt to GDP in Brazil is set to rise both continuously and significantly. Authorities can only gratify either the government’s creditors by tightening fiscal policy, or the population by substantially relaxing their…
Have Brazilian Financial Markets Moved Past Their Worst Point…
Chart I-1Brazilian Share Prices And Commodity Prices Move In Tandem
Brazilian Share Prices And Commodity Prices Move In Tandem…
Please note that yesterday we published Special Report titled Do Not Overlook China’s Innovation Drive. Please click on it to access it. Today, we publish analysis on Brazil and Ukraine. Chart I-1Brazilian Share Prices And Commodity Prices Move In Tandem…
Highlights Our COVID Unrest Index reveals that Turkey, the Philippines, Brazil, and South Africa are the major emerging markets most at risk of significant social unrest. China, Russia, Thailand, and Malaysia are the least at risk – in the short run. Stay tactically overweight developed…
We believe risks to Brazilian assets remain to the downside. Chart III-1Brazil: Recurring Crises
Brazil: Recurring Crises…
Analyses on Chinese autos and Brazil are available below. Highlights The Fed’s aggressive monetization of public and some private debt has inspired investors to allocate cash to risk assets However, a number of cyclical indicators continue to flash red or amber, suggesting this rally is not…
Brazil: No Easy Way Out…
On Tuesday, BCA Research's Emerging Markets Strategy service concluded that the cyclical outlook for Brazilian bank stocks has worsened further due to the COVID-19 pandemic, despite the fact that valuations have improved. Brazilian banks have plunged 55% in US$ terms since their high in January.…