The election of Jair Bolsonaro as Brazil’s president boosted the São Paulo stock market to unprecedented levels. Ibovespa, the country’s benchmark index, hit its all-time high of 89.820 points on December 3, despite a meltdown of international markets – especially in emerging economies.
Not only the São Paulo stock exchange is one of the just four in the world to end 2018 in the positive side of zero – alongside with Argentina, India and New Zealand – but it is also, by far, the best performing global index in local currency. In other words, when...
