Bovespa: Attractiveness Eroding

July 2008 | Market Strategy

These are turbulent days for emerging market stocks and even Brazil, with its sound macroeconomic fundamentals and still upbeat investor sentiment, no longer seems immune to bouts of financial market volatility. Rising interest rates and corrections in global commodity prices - towards which the Bovespa equity index is heavily biased - have dampened the investment hype that followed two investment grade upgrades earlier in the year.

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