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Investors have high hopes for Brazil

Many emerging markets had a dismal 2018. But Brazil, Latin America’s biggest economy, was a rare exception. The benchmark Ibovespa index gained more than 15%; it has also jumped by almost 8% since Christmas, making it one of the world’s top-performing stockmarkets at the start of the year. The Brazilian currency, the real, has climbed against the US dollar. So what’s got the bulls so excited? [...]