Brazil – a video from Sao Paulo. Hot money, an aggressive central bank and 140 kms of traffic jams.

I joined 20 million other people in Sao Paulo last week on my first trip to Brazil.  I made a short video of a few thoughts on the economy and the challenges faced by emerging market economies now deemed to be “the new risk free”.  Brazil was the last of the BRICs that I’ve visited – it also turned out to be my favourite.


Erratum: in the video I mention that I’d spotted a footballing talent who might well break through to the big time.  To much ridicule from the team it appears that he is not quite the unknown I’d imagined.  Here is Neymar scoring the FIFA Goal of the Year 2011.  It is, with hindsight, unlikely that Nottingham Forest will be signing him up.

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.

Jim Leaviss

Job Title: CIO Public Fixed Income

Specialist Subjects: Macro economics and fixed interest asset allocation

Likes: Cycling, factory records, dim sum

Heroes: Brian Clough, Morrissey, Neil Armstrong

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