Brazil Catches A Bid

While Chicagoans suffered a blow at 11:30 AM ET this morning when the IOC voted the city out of the running for the 2016 Summer Olympics, investors in Brazil saw a nice jump-up in stock prices on the news (see chart below).  The Bovespa continues to rally intraday as the final vote between Madrid and Rio nears, and Brazil is now heavily favored to win.  If Brazil does win, there will most likely be quite a few business articles published in the coming days telling investors to buy the Brazil ETF -- EWZ.

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Comments

[J.F.Duvivier]

Obama really tried to pay back his Chicago gang, but the IOC rebuffed his frantic efforts. Rio is a much better venue, the Brazilians are a wonderful people, friendly, hospitable, the Maracana stadium can accomodate over 200, 000 people for a single game, the smaller stadium for basketball and indoor sports can host 75,000. Chicago has nothing like it.

[Senan]

Congrats to Brazil. I think they deserve it and one things for sure, there will be lots of colour and excitement and fun in 2016. Financially, Brazil is one of the BRIC countries and this is another shot in the arm for it. Hopefully it can push on.

[ZZEnterprises]

Brazil, yes they have not only wonderful people, but there not broke. as isChicago. Go Brazil.

[Jose]

Who cares about where the games are. They are a financial disaster for whatever City hosts them. I care that hundreds of thousands of my tax dollars were spent to send the two clowns to Denmark, in separate planes yet. The so called president should not be pimping for a City. That is the job of the Mayor or the state Gov.