Last week, the stock market fell by more than 6%. That’s a return of -24.5% for the year. While we equities here in the U.S. continue to struggle, emerging nations have been hit even harder… especially commodity-based economies.

Countries with strong commodity and cash reserves are going to be great markets on the far side of this financial crisis.

Almost everything has been taken down by this crisis. But Martin Hutchinson says some markets will “bounce big” after the storm passes. Countries that didn’t have a housing boom and follow sound economic policies. That’s why Canada, Brazil, South Korea and Germany are great places to invest right now.

Brazilian stocks could lose as much as 10% of their value by August as inflation accelerates and interest rates rise, according to a recent report by Citigroup. This from Bloomberg:

Citigroup strategist Geoffrey Dennis forecast the Bovespa stock index may drop to 65,000 by ‘mid-summer’ from the May 30 close of 72,592.50. The index fell 1 percent to 71,897.25. The New York-based strategist kept his end-year forecast for the Bovespa at 74,000.

Brazil is an amazing place. For a long time, this country of 186 million was seen as a world power in soccer and that’s about it. Though Brazil is the fifth-largest country in the world and the fifth-most populous, few paid attention to it.

“Brazil is the country of the future – and always will be,” goes the old joke. Previous periods of strong growth in Brazil have ended in turmoil, but the country has come a long way over the last few years and finally seems set to fulfil its potential and develop into an advanced economy.

52-Week T-Bill is Back; Sweet-Smelling Deal for FTD; First Family of Oil Calls for Environmental Focus; Garmin Losing Track; PepsiCo. Stocking up on Water; Bovespa Hits Record on S&P Rating; Kraft Profit Tumbles 13%; Kellogg Profit Sheds 2%.