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Brazil looks cheap, but foreigners stay away from domestic assets, economists say

RIO DE JANEIRO, BRAZIL - Although the prices in U.S. dollars of Brazilian assets now seem attractive, the willingness for foreign capital to invest in the stock market or fixed income here is low.

After the widespread stress with the declared hole in the spending cap last week, the balance between risk and return discourages the evaluation of local opportunities, according to specialists who participated in the panel "Inside the mind of foreign investors: what they think of Brazil and emerging markets", at the Anbima Summit.

According to Cassiana Fernandez, chief economist at J.P. Morgan in Brazil, for the . . .

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