Chart of the week: Brazil’s fortunes falter

Brazil’s sunny tide has turned and investment in the country is now in marked decline. This slump follows the cautious optimism that took hold after the election of president Jair Bolsonaro last year, whose policy paralysis has done his country no favours. Latin American equities don’t look particularly cheap and neither do its currencies; the Brazilian real is near its long-term average, despite the economic malaise. 

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