Brazil's Ibovespa rebounded a modest 0.3% to 10,335 on Monday after a 7% plunge in the previous week, as stabilization in bond markets and the approval of a fiscal stimulus bill in the US nudged sentiment. On the macro side, latest PMI figures showed Brazil's manufacturing sector expanded faster and solidly overall in February. Meanwhile, the latest central bank FOCUS survey showed that GDP growth forecasts for 2021 remained unchanged at 3.29% compared to a week earlier, but inflation expectations for the year continued to deteriorate: 3.87% vs. 3.82% a week ago. On the pandemic front, there are growing fears that Brazil's health system would collapse as the cases of Covid-19 continue to skyrocket and 17 Brazilian capitals have an occupancy rate of about 80% at their intensive-care units.
Historically, the Brazil Stock Market (BOVESPA) reached an all time high of 125323.53 in January of 2021. Brazil Stock Market (BOVESPA) - data, forecasts, historical chart - was last updated on March of 2021.
The Brazil Stock Market (BOVESPA) is expected to trade at 106690.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 97249.09 in 12 months time.