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In the short and medium term, Brazilian stocks are a buying opportunity, says J.P. Morgan

RIO DE JANEIRO, BRAZIL - The recent decline in the Ibovespa, which has posted double-digit losses since its peak in June, has made local equities even cheaper than their peers.

With the global scenario still risk-averse and multiples at excessively low levels, J.P. Morgan believes Brazilian equities represent a good buying opportunity in the short and medium-term.

According to the American bank, the recent decline in the index is mainly due to the high volatility in the domestic bond market, as the interest rate of the local 10-year bond has increased 200 basis points in the . . .

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