From Daily Pro (Brazil)-
Have they already printed Christ the Redeemer shooting like a rocket towards Mars on the cover of the Economist?
These days, everyone wants Brazil. It’s a safe haven for high interest rates, in a world of negative rates.
HSBC recommends a “big purchase” of Brazilian securities. Mark Mobius, from Templeton, a symbolic guru of emerging markets (whatever that means) believes there are unbeatable deals in Brazil. Will Landers, from Blackrock, acknowledged on Bloomberg of having increased his portfolio from 46% to 57% in Brazilian stocks.
I think they are right. Maybe they could have purchased a year ago, paying much less. When we alerted readers to a few early stock picks in our report named “Hand Turn” (in reference to “End of Brazil”), we were crazy. Now, we are pioneers, visionaries. The past is in the past. It does not change. But it doesn’t matter. We want to know what lies ahead.
Christ the Redeemer will not take off. Nor will it collapse. It is still there, taking advantage of tourists eager to enjoy the Olympics (in that city, who wouldn’t?). And even better are those who come to indulge on the high Brazilian yields, while most central banks sail through uncharted waters in negative territory…