The Brazilian Real (BRL) and the Brazilian stock index (Bovespa) rallied 7% and 5% over the past week. These moves in the financial markets seem to contradict the news coming out of Latin America as the Pan American Health Organisation’s (PAHO) concerns about Brazil grow. Where the number of new cases reported last week was the highest for a seven-day period since the outbreak began. Additionally, Brazil overtook Russia over the weekend to become the country with the most confirmed cases of Covid-19 after the United States.

The markets, well EM seem to no longer be trading on Corona news and more so investors taking profit from the retrace? Discuss…

Get our Emerging Markets updates for free every morning!

Leave a Reply

Your email address will not be published.