It’s just a week into 2019 and Brazil is the best stock market in the world. Parabens, Jair Bolsonaro. Until the army tanks roll in, as his opponents believed just four months ago, Brazil is on track to be the best performing market this quarter, if not in the first half of 2019.
Based on the biggest, passive trades in the markets, the iShares MSCI Brazil is beating the SPDR S&P 500, Russia, India, China (duh), Mexico, FTSE Europe, Japan and the broader MSCI Emerging Markets Index.
Fitch Solutions forecast Brazil’s GDP growth to hit 2.4% this year, up from 1.3% last year.
Brazil’s economic recovery will pick up steam over the next couple of quarters, Fitch Solutions researchers wrote in a report published on Tuesday. They cited positive business sentiment bolstered by Bolsonaro’s new administration.
By Keneth Rapoza via Forbes