Lale Akoner

Akoner states "we are seeing, interest in Brazilian equities" because they are "tied to the commodity cycle" and benefit from "easy monetary policy." The commodity cycle is supported by geopolitical supply disruptions, and local easy policy provides a favorable backdrop. The Brazilian real's strength against the USD is also noted. This is a favorable view on Brazilian equities as a play on commodities and local macro conditions, with observed investor interest. A sharp downturn in global commodity demand or a shift in Brazil's monetary policy.

Akoner states eToro clients are "increasing their exposures to energy related, equities, commodity indices." The ongoing war has constrained oil supply (notably via the Strait of Hormuz), supporting higher prices and profitability for energy companies. This is a direct allocation recommendation in response to the current geopolitical and supply environment, indicating a bullish view on the sector. A rapid de-escalation of the Iran conflict or a global demand shock that collapses the oil price.