Is it time to buy the dip in Brazil? Local assets have been tanking. The currency has dropped 7 per cent this year to a record low. São Paulo stocks have slumped by a similar degree.
Investors were spooked last week when December’s industrial production data disappointed. The nervous mood certainly has not been helped by the coronavirus outbreak. Brazil is far from the centre of that storm but its large commodities exports and relatively liquid markets make it an easy target when jitters hit.
By Jonathan Wheatley via Financial Times