Merrill Lynch launches Bric indicator

Stock markets in Brazil, Russia, India and China (Bric) are slowing down and in order to monitor this cycle as it unfolds, Merrill Lynch has launched a propriety indicator called BRICycle.The BRICycle shows that the four markets are still in a mid-cycle slowdown, not a recession, and that the global credit crunch affects India and Russia more. Driven by different factors in each country (primarily domestic tightening in Brazil and China, and external factors in Russia and India), real…