Forecasts for a 20% Brazil Stock Rally Ruined by High Rates
Source: Live Mint The start of the Federal Reserve’s easing cycle was supposed to be the long-awaited catalyst to ignite a rally in Brazil’s stocks. Banco Santander’s local unit predicted the Ibovespa gauge would rally almost 20% this year. Analysts at Bradesco BBI saw similar gains. Bank of America favored Brazil over Mexico amid estimates…