From Bespoke Investment Group:
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.
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.
See chart...
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