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IBovespa Approaching All-Time High

BRAZIL
  • Despite the weak BRL, which is generally associated with a poor performance in equities in the EM world, Brazil equities have been benefiting from the global risk-on environment with Ibovespa Index up 100% since its March low.
  • Ibovespa is approaching its key resistance at 125,300, which is the all-time high reached on Jan 8.

Source: Bloomberg/MNI

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