Brazil’s stock market rises from the dead. What now?

Despite Brazil's poor economic outlook, the stock exchange has bounced back fast, and is already looking to make further gains

Brazil's stock market rises from the dead. What now_
Image: Osorio Artist/Shutterstock

While economists debate on the shape that the post-pandemic economic recovery will take, there is one aspect where all signs point to an ideal V: Brazil’s stock market. In the first month of the pandemic, Brazil’s benchmark stock index Ibovespa fell by half, but has already clawed its way back to around 90,000 points, 20-percent below its all-time high — buoyant figures considering the magnitude of the pandemic. Volatility continues, but investors are measuring the fundamentals behind this rebound.

Looking at the most recent data about the real economy in Brazil, such as the worst drop in retail sales...

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