On April 30th, Standard & Poors nominated Brazil Investment grade. Not a word on that fundamental event in the Belgian press, even though it's far from being a fait divers. Remember my December investment tip? From 59,9 at that time to 69,2 today, that's a 15,5% gain in less than 6 months; not taking into account the currency win. Expect the Bovespa to further rally now that Brazil is investment grade and the Brazilian IPO market to remain exteremely active. This coverage on BBC explains the underlying economical fundaments.
I truly enjoyed reading that Brazil's president Lula now critizes the AAA rating of the US, the man has a point of course.
Back to Belgium now, for only 3 weeks, on June 1st we're flying back to Sao Paulo.
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May 9 2008
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