Argentina could be the next market to be attacked and since the Argentine market is so close to Brazil, that could bring trouble for us. Brazil still needs foreign financing this year...so we need the flow of foreign funds to continue.
More Quotes from Francisco Andrade:
It's recovering a little bit abroad (today). But, the outlook is for more U.S. losses ... so we have space to fall further.Francisco Andrade
The market was really thin throughout the afternoon, with a continuation of profit-taking from yesterday, but then U.S. markets came back and capital flowed in.
Francisco Andrade
The main worry short term is the drop in the Nasdaq. The U.S. didn't back up Argentina today, so there's still a bit of worry about that.
Francisco Andrade
That number showed the market the U.S. may not be able to lower interest rates as soon as people expected ... and that will lengthen the time before their recovery.
Francisco Andrade
The global atmosphere is still unclear and the local picture is also generating some tensions. The near-term outlook for the market is not good.
Francisco Andrade
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