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Bloomberg: Investors in Brazil turn bearish, BofA ML survey finds

Published 05/15/2018, 09:27 AM
© Reuters.  Bloomberg: Investors in Brazil turn bearish, BofA ML survey finds
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  • Investors in Brazil are less optimistic about stocks and the currency as the U.S. dollar gains strength and the October presidential election nears, Bloomberg reports, citing a Bank of America Merrill Lynch (NYSE:BAC) survey of 29 fund managers who oversee $85.7B.
  • Fewer than 10% of respondents see the Ibovespa Index gaining more than 11% by the end of the year, compared with 46% of those surveyed in March.
  • Not one respondent expects the Brazilian real to return to the 3.2/USD level last seen in early February; 17% see it above 3.6 by the end of the year.
  • For the LatAm region, investors who see it outperforming emerging-market peers fell to 40% from 60% in the past survey, Bloomberg said.
  • ETFs: EWZ, BRZU, BZQ, BZF, UBR, DBBR, FBZ
  • Now read: Moving Past The Oily Path Of Least Resistance?


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