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"Investors appear to have thrown in the towel on Brazil," says BAML of a survey of fund...
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Thursday, May 31, 2012, 12:54 PM ET"Investors appear to have thrown in the towel on Brazil," says BAML of a survey of fund managers. Fourteen percent are underweight Brazil, a sharp turnaround from a month ago when 20% were overweight. The central bank has been aggressively slashing rates - normally a green light for stocks - but investors are reading the cuts as panic moves in a stagnating economy. EWZ -31.7% Y/Y.
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