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I bought Brazil yesterday for 3 reasons:

1. It was down (I buy red)
2. They are next up to cut rates aggressively
3. It’s the high beta “Re-Flation” Trade

That’s it. The Brazilian exchange traded fund, EWZ, has just shot up to +9% on the day. Remember the “R” in BRIC? This one has a bid to cover.
KM