Sentiment
Let's continue to observe the social moods in the world.
The main news today is the unrest in Brazil: supporters of former President Jair Bolsonaro stormed the Congress, the Supreme Court and the Presidential Palace. They are protesting against the election of Luis Inacio Lula da Silva as president, calling for a coup d'état, the annulment of elections and the imprisonment of da Silva.
Let's try to assess the prospects for Brazil by correlation with the iShares MSCI Brazil ETF, which includes indicators in US dollars. It peaked in 2008 and has been losing over 60% since then.
The long-term downtrend began shortly after former US President Obama called then-President of Brazil da Silva "the most popular politician on earth."
Whether this is the bottom remains to be seen, but it certainly deserves attention.
The main news today is the unrest in Brazil: supporters of former President Jair Bolsonaro stormed the Congress, the Supreme Court and the Presidential Palace. They are protesting against the election of Luis Inacio Lula da Silva as president, calling for a coup d'état, the annulment of elections and the imprisonment of da Silva.
Let's try to assess the prospects for Brazil by correlation with the iShares MSCI Brazil ETF, which includes indicators in US dollars. It peaked in 2008 and has been losing over 60% since then.
The long-term downtrend began shortly after former US President Obama called then-President of Brazil da Silva "the most popular politician on earth."
Whether this is the bottom remains to be seen, but it certainly deserves attention.
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