Brazilian equities are breaking out of their long-term downtrend versus the United States. The Bovespa index jumped 12.2% this month through Friday, ending at a record peak and posting its biggest weekly percentage gain since April 9, 2020. Optimism surrounding Brazil’s presidential election is fueling this momentum in the country’s stock market. In comparison, the S&P 500 gained roughly 2% over the same period. This configuration is attracting investors seeking to diversify their positions beyond artificial intelligence exposure in U.S. markets.
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