📈 Sell America, buy Brazil?

Foreign investors poured BRL 15.7 billion (USD 2.9 billion) into São Paulo’s B3 stock exchange in the opening weeks of 2026, a sum that by January 22 already amounted to roughly 60% of all foreign trading recorded during the entirety of 2025.

The surge in overseas investment has propelled Brazil’s Ibovespa benchmark stock index to a series of record highs. Last week, it breached the 170,000-point threshold for the very first time. And on Wednesday, following weaker-than-expected inflation data, it topped 180,000 points. The index has risen 12.9% so far this month, 52% since the beginning of last year.

Brazil has been one of…

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