"Investors appear to have thrown in the towel on Brazil," says BAML of a survey of fund...

|By:, SA News Editor

"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.