Foreign Investors Flock Back to Brazil Stocks as Fed Cut Nears [BNN Bloomberg (Canada)]
XP Inc. - Class A (XP)
Company Research
Source: BNN Bloomberg
It was the second consecutive month of net investment, after six months of outflows, according to data from exchange operator B3, the highest value since December. “The main catalyst is the global scenario,” said Jennie Li, equity strategist at XP Inc. Traders poured 1.34 billion reais into the Brazilian stock market on the same day of Fed Chairman Jerome Powell's speech at Jackson Hole on Aug. 23, in which he emphasized that the “time has come” for the world's largest economy to start cutting rates. While the Fed's easing cycle is expected to boost the stock market further, recent currency volatility and the prospects of higher rates in Brazil could damp investor appetite for local assets. Concerns about the country's fiscal outlook led investors to sell the real and price in several interest rate hikes last week. “It's hard to say how long the foreign flows will last, but the fact is that the scenario is more favorable for emerging countries, such as Brazil, after a series of
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XP
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