Uncertainties of U.S. economic recovery are generating “panic” in the markets, Pedro Galdi, head strategist at Sao Paulo-based brokerage SLW Corretora, said in a telephone interview.
On risk perception:
“There’s the perception of a new recession. Investors are coming out of risk and going to Treasuries and the dollar.”
On foreign investors: “It’s panic. Individual investors are getting out of equities. There have been many withdraws from funds. It’s not the foreign investor. Those continue to invest in Brazilian stocks.”
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