Excel Funds Management Inc.

Emerging Markets

Brazilian Real Advances On Economic Expansion; Swap Rates Rise

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In FX, the Brazilian Real rallied on what Bloomberg attributed to Ben Bernanke’s Jackson Hole speech  in which Bernanke said “he would not rule out more stimulus”. An economic report also showed Brazil’s economy grew at the fastest pace in a year, tempering signals of slowing growth.

The currency rallied with most of its emerging-market peers as Bernanke’s comment on further stimulus boosted risk appetite and stronger growth figures fueled speculation the central bank will soon stop cutting borrowing costs, said Deives Ribeiro, the head of foreign-exchange trading at Fair Corretora de Cambio e Valores.


Brazil’s GDP expanded .4% quarter on quarter surpassing last month’s revised number of .1%.

“The second-quarter numbers show a faint recovery,” Luciano Rostagno, the chief strategist at Banco WestLB do Brazil SA, said in a phone interview from Sao Paulo. “Third-quarter numbers should be even better.”

Written by Jack S.




Author: Excel Funds Management

We Are Leaders. Our Focus is Undivided. Excel Funds is Canada’s specialist in Emerging Market investment opportunities. We pioneered Emerging Market mutual fund design and distribution in Canada. Our focus is undivided – Emerging Markets is all we do. Our Mission Is To Offer Canadians True Global Access By offering Canadians access to rapid growth markets, Excel Funds provides truly global and diverse investment value. Our clients want consistent, responsible and intelligent solutions – we will never stop being challenged and deliver on client expectations. We Listen. We Are Determined To Deliver. Our clients want to understand better. Excel Funds is the only company dedicated to providing investors with actively managed, best-in-class Portfolio Managers based in regional markets. In order to deliver deeper understanding, we are not removed from unique cultural, political and economic experiences. We Initiate. We Create. Investors benefit from strong, sustainable growth. To create wealth for our clients we will: • Offer globally diverse opportunities to capture shifts in world economies • Not resist change and continually lead in Emerging Markets global growth • Engage world class institutional managers for retail investors We Are Passionate. We Will Never Stop Innovating. True leadership is enabling and seeks a positive outcome for all invested. We will not rest on past success, and continue to provide clients with: • Innovative fund structures • Canada’s largest & most comprehensive Emerging Markets products • The best institutional level Portfolio Managers • World class on-the-ground active managers • A singular focus on Emerging Markets, the driver of global growth

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