Patrick Gillespie CNN Money, 03/07/2016
A comeback in commodities prices and a new round of corruption busters are driving Brazil’s stock market rally. Its market index, Bovespa, is up 14.1% so far this year in dollar terms, second only to its neighbor, Argentina, which is up 14.7% so far in 2016.
Stocks can be a leading indicator of how investors feel about a country’s economic future. But Brazil is the latest example of the dichotomy between the stock market and the economy, which are currently going in totally different directions.
Brazil isn’t alone either: Stocks in other struggling economies, like Russia and South Africa, are up this year too.