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The Economist.

Hello and welcome to the intelligence from The Economist.

I'm your host, Jason Palmer.

Every weekday, we provide a fresh perspective on the events shaping your world. The biggest, most international, most recognizably American brands used to have an easy job selling into the global marketplace.

Used to. We look at a costly backlash.

And I can't resist calling it a bull market in Brazil, but it's also a cow market.

Bitters buy shares in bovine assets, pay astronomical sums for their semen or eggs.

Our correspondent spends some time thinking about what makes a good cow, or bull.

First up, though, makes a good cow or bull.

First up though. The thing about exchanges such as this is perhaps if you haven't been to them before,

...