Newsig · Forex News
Morgan Stanley upgrades Brazil to overweight, sees another 10% in stocks and BRL by year-end
Brazil had a monster day on Monday and Morgan Stanley isn't fading it. The LatAm equity strategy team upgraded Brazil to overweight late on Monday. They call it the start of the market's "honeymoon stage" with Flavio Bolsonaro, and they see room for a further 10% in equities and 10% in the real by y
Why it matters
EWZ (iShares MSCI Brazil ETF) · Why linked: Morgan Stanley upgraded Brazilian equities to overweight, directly impacting the main Brazil equity ETF. Market context: The upgrade and 10% upside call should attract fresh inflows into Brazilian equities.
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