Uncertainty of U.S. Recovery Sparking ‘Panic’, SLW’s Galdi Says

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.”

To contact the reporter on this story: Taís Fuoco in Sao Paulo at tfuoco1@bloomberg.net

To contact the editor responsible for this story: Francisco Marcelino at mdeoliveira@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.