A Bank of America survey of Latin American fund managers released Tuesday showed a majority of participants expect investors to switch to equities only when the Selic rate hits 10% a year, while 32% believe rates will be needed. of lower interest for this movement to happen.
Considering the forecasts of the managers themselves in the survey, this should not happen this year, as half of the managers consulted said they see Selic between 11.75% and 12% this year. A 34% share expects a rate of less than 11.75%. Currently the Selic is at 13.25% per annum.
Also according to the BofA survey, sentiment towards Brazilian equities remains positive, with 88% seeing Ibovespa, the benchmark for the Brazilian stock market, above 120,000 points at the end of the year and 44% expecting the index above 130,000 points.
The main risk to the projections highlighted by survey respondents remains a higher interest rate in the US.
Liquidity levels stood at 8% in August this year, close to an all-time high of 8.4%, the survey showed.
Views on the real found in the survey did not have a common trend, with 34% expecting a weaker dollar, while 38% see no change and 25% expect a stronger US currency. Most forecasts place the dollar between 4.81 and 5.10 reais.
Source: Terra
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