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Top Hedge Fund Says Brazil Pessimism Could Bring Happy Surprises

by news.yahoo.com posted 2months ago 35 views
(Bloomberg) -- A growing number of pessimists are bracing to be disappointed by Brazil’s long-delayed pension overhaul. For one of the nation’s most-watched hedge funds, that may be a good thing. ``The market consensus today is way less constructive than what we saw at the beginning of the year, therefore there's more room for positive surprises,'' Verde Asset Management said in a monthly note to clients Tuesday. The October election of President Jair Bolsonaro brought with it rising optimism that Brazil might finally make headway on its faltering pension system.

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