Brazilian Equity Woes Temporary: Citi’s Press

Brazilian Equity Woes Temporary: Citi’s Press

Brazil Equity

Bovespa has lost 16% on the year through Tuesday and many companies’ new issuance plans have been scrapped, but there are still reasons to be constructive about Brazil’s equity outlook, says Citi LatAm strategist Jason Press. He says that the Bovespa has only seen a 12% peak-to-trough drop and Citi reckons from current levels the market will provide 25% returns by year’s end. The US bank has a preference for companies tied to interest-rate sensitive sectors that have suffered but

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