It seems fitting that we are calling the German DAX index up on open today, with the world shocked at Germany's schooling of the once mighty Brazilian...
It seems fitting that we are calling the German DAX index up on open today, with the world shocked at Germany's schooling of the once mighty Brazilian football team. If sizeable outperformance on the football field wasn't enough, you could also look at Germany's financial markets relative to that of Brazil. Since 2010, the ratio of the Brazilian bovespa to that of the DAX has fallen from 12 times to now stand at 5.4 times. EUR/BRL has come off a touch of late, but is still up 40% from the 2010 low, while there has been massive outperformance from bunds. (VIEW LINK)
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