The year 2026 is expected to repeat the previous year's script in the stock market, driven by the strength of the external environment on risk assets. It is from this perspective that Roberto Chagas, head of equity strategy at Santander Asset, structured his outlook for investors.
In Janela de Mercado , a NeoFeed program that interviews leading stock market managers and analysts, Chagas stated that the soft landing of the American economy, coupled with expectations of falling interest rates in the United States and in sync with the start of the Selic rate cut cycle, could unlock a new wave of foreign capital inflow into the Brazilian market.
"Although the presidential elections may bring volatility, the external scenario is predominant. The soft landing of the American economy should cause the flow to come to Brazil and Latin America," says the expert.
When assembling his stock portfolio, Chagas prioritizes defensive sectors, which combine lower volatility, recurring cash generation, and a consistent history of dividend payments, in addition to outperforming the CDI (Brazilian interbank deposit rate) in the long term.
Check out the video above to see the stocks selected by the Santander asset manager's expert.
