Global X Brazil Consumer ETF
 (BRAQ)

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  • Sep. 24, 2015, 2:48 AM
    • Brazil's central bank intervened to try to calm the country's volatile forex market yesterday, using currency-swap contracts and auctions of dollar-repurchase agreements to prop up the real.
    • Over the past year, the currency has lost about 70% of its value against the dollar due to a struggling economy and corruption scandal at Petrobras that may see the state intervene with a bailout.
    • Brazil's sovereign credit rating was also dinged earlier this month after Standard & Poor's downgraded it to junk status.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Sep. 24, 2015, 2:48 AM | 3 Comments
  • Sep. 10, 2015, 5:34 PM
    • Petrobras (NYSE:PBR) is downgraded to junk status with a negative outlook by Standard & Poor's, a day after cutting Brazil’s sovereign debt to junk.
    • The ratings agency cuts the state-run company's credit ratings by two notches, to BB from BBB-, joining Moody’s in moving PBR to junk; Fitch classifies PBR at the lowest investment grade with a negative outlook.
    • S&P also downgrades ~30 other Brazilian state companies, including electric utility Eletrobras (NYSE:EBR), which is lowered to BBB-; ratings and outlooks for Vale (NYSE:VALE), Embraer (NYSE:ERJ) and Gerdau (NYSE:GGB) are not changed.
    • Earlier: Petrobras' investment plans at risk from S&P downgrade
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Sep. 10, 2015, 5:34 PM | 7 Comments
  • Sep. 10, 2015, 9:21 AM
    • The Bovespa is down 2.2% and the real off 2.9% to 3.8944 per dollar after S&P last night downgraded Brazil's credit rating to the junk level for the first time since 2008.
    • "The first reaction will be to sell, but there’s hope that this is the shock the politicians need to take action," says fund manager Paul McNamara, figuring the real will slide below four per dollar "sooner rather than later."
    • EWZ -3.6% premarket
    • Individual names: Petrobas (NYSE:PBR) -6.3%, Banco Bradesco (NYSE:BBD-4.4%, Itau Unibanco (NYSE:ITUB) -4.8%, Banco Santander Brasil (NYSE:BSBR-3.9%.
    • Previously: S&P lowers troubled Brazil's rating to junk (Sept. 9)
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Sep. 10, 2015, 9:21 AM | 9 Comments
  • Sep. 9, 2015, 7:42 PM
    • Standard & Poor's has cut Brazil's investment-grade credit rating to junk for the first time since 2008, warning it could lower it again in coming months.
    • The firm pointed to political challenges putting a balanced budget at risk in lowering its rating to BB+ (the highest speculative rating).
    • Fitch and Moody's still have Brazil at investment grade -- for now. But if either one follows suit, as Brazil's situation rapidly degrades, it would trigger massive cash outflows from pension funds.
    • The move by S&P comes just six weeks after the agency lowered its outlook and warned of a ratings cut. Since that time, the Brazilian Real has slipped from 3.43/dollar to 3.7827/dollar.
    • After-hours action in ETFs: EWZ -7.2%, BRZU -20.4%.
    • Related ETFs: BRXX, BRAQ, BZQ, BRAF, UBR, DBBR, FBZ
    • Previously: Brazil's investment grade rating at risk (Jul. 29 2015)
    | Sep. 9, 2015, 7:42 PM | 17 Comments
  • Sep. 4, 2015, 2:31 PM
    • The University of Chicago-trained Joaquim Levy - nicknamed "Scissorhands" for his budget-cutting abilities - caused a stir yesterday afternoon on word he would skip this weekend's G-20 meeting of finance ministers in Turkey. Though that decision was reversed later, speculation is growing he could resign just eight months after taking the helm at Brazil's finance ministry.
    • It would be another blow to the Rousseff administration, where Levy is about the only one in government with the support of investors. His exit would likely mean the country's credit rating being cut to the junk level at some point.
    • “Levy is persistent, so if he fails to drive through the adjustments needed, it’s a very bad sign," says Goldman's chief LatAm economist Alberto Ramos. "If he can’t do it, then who can?”
    • The Bovespa is lower by 2.1% today, EWZ -4.5%. Among bank ADRs: Banco Bradesco (BBD -5.6%), Itau Unibanco (ITUB -6.3%), Banco Santander Brasil (BSBR -7.2%).
    • ETFs: EWZ, BRZU, BRXX, BRAQ, BZQ, BRAF, UBR, DBBR, FBZ
    | Sep. 4, 2015, 2:31 PM | 1 Comment
  • Sep. 3, 2015, 2:28 AM
    • Brazil's two-decade rule over the the Latin American stock markets is continuing to dwindle as the nation's recession and political crisis deepen and its currency plunges.
    • At one point a few years ago, Brazil's market was four times larger than nearest rival Mexico, but that gap, once as much as $1.1T, is now down to just $133B.
    • Regression analyses of the current pace of declines indicate Brazil's lead could disappear over the next 13 months.
    • ETFs: EWZ, EWW, MXF, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, MXE, BRAZ, BRAF, UBR, DBBR, UMX, DBMX, FBZ, SMK, QMEX, HEWW
    | Sep. 3, 2015, 2:28 AM
  • Aug. 31, 2015, 1:04 PM
    • The latest from the high-level corruption scandal has the U.K Rolls-Royce being dragged in, with the company saying it's cooperating with investigators over bribery in Brazil's state oil business.
    • The Bovespa's 1.9% decline today is being led by banks Itau Unibanco (ITUB -5.2%), Banco Bradesco (BBD -5.9%), and Banco Santander Brasil (BSBR -3.2%).
    • Petrobas (PBR +1%) and Vale (VALE +1.2%) are actually hanging in there this session.
    • The iShares MSCI Brazil Index ETF (EWZ -3.3%)
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Aug. 31, 2015, 1:04 PM
  • Aug. 28, 2015, 10:01 AM
    • Brazil's economy shrank 1.9% in Q2, missing forecasts for negative 1.7%. Investment fell 8.1% - its eight straight quarter of decline and the longest streak since the current data series started in 1996. Household consumption dropped 2.1%, its worse decline since 2001. Government spending rose 0.7%. The year-over-year inflation rate was 9%.
    • "The drop in consumption shows the crisis of confidence the economy is facing," says an economist. "This is going to be an intense and prolonged recession and I don't see a recovery this year."
    • The lame economic activity could spell doom for Brazil's credit rating - currently just above junk status.
    • The Bovespa is lower by 0.4%. EWZ -1.15%
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Aug. 28, 2015, 10:01 AM | 3 Comments
  • Aug. 25, 2015, 5:58 PM
    • Petrobras (NYSE:PBR) is among the Brazilian borrowers most at risk of seeing leverage ratios swell as the country's real posts the world’s biggest currency losses, according to a Bloomberg analysis.
    • For PBR, electric utility Eletrobras (NYSE:EBR), airline Gol Linhas Aereas Inteligentes (NYSE:GOL) and mall operator General Shopping Brasil (OTC:GBRAF), every 10% depreciation in the real boosts the companies’ debt-to-earnings ratio by a factor of 1x, Fitch Ratings says.
    • The companies, with a combined $60B of overseas bonds outstanding, are vulnerable to a falling real because they have high levels of foreign currency debt while most of their sales are in the local tender.
    • PBR’s $2.5B in bonds due 2024 have dropped ~9% YTD, EBR's $1.75B of bonds due 2021 have tumbled 13% since December, while GOL’s $325M in notes due 2022 have shed 17%.
    • ETFs: EWZ, BRZU, BRXX, BRAQ, BZQ, BRAF, UBR, DBBR, FBZ
    | Aug. 25, 2015, 5:58 PM | 1 Comment
  • Aug. 24, 2015, 8:08 PM
    • Economists in Brazil forecast inflation will accelerate to a 5.50% rate in 2016 and GDP will fall 0.24%.
    • The revised outlook marks the third consecutive week the estimate for inflation has been raised, while the view on GDP has been trimmed amid a weak local currency.
    • Multinationals, including automakers and consumer products companies, banking on a pre-Olympics economic rush in Brazil have had to pull back expectations.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ.
    | Aug. 24, 2015, 8:08 PM | 6 Comments
  • Aug. 20, 2015, 2:47 AM
    • Brazil's Senate has approved a bill to roll back corporate tax breaks, as President Dilma Rousseff's looks to reduce a gaping fiscal deficit and restore confidence in the face of record-low popularity ratings, a spreading corruption scandal and looming recession.
    • The measure will boost revenue by 10B reais ($2.9B) annually and aims to save Brazil's threatened investment grade credit rating.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Aug. 20, 2015, 2:47 AM
  • Aug. 17, 2015, 4:13 AM
    • Hundreds of thousands of Brazilians took to the streets on Sunday calling for the impeachment of President Dilma Rousseff, although turnout appeared significantly lower than two massive protests staged earlier this year.
    • Demonstrators denounced widespread corruption among the country's political and business elites and called for the end of more than 12 years of Workers' Party rule.
    • Barely seven months into her second term, Rousseff has seen her approval rating drop to just 8%, while the Ibovespa stock index has plunged 10% over the same period
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Aug. 17, 2015, 4:13 AM | 1 Comment
  • Aug. 14, 2015, 4:00 AM
    • Brazil President Dilma Rousseff is poised to face another key test as allegations of corruption and incompetence swamp her government, and plummeting commodity prices sap the country's economy.
    • Hundreds of thousands of angry citizens are expected to descend on central squares on Sunday, marking this year's third mass protest calling for her impeachment.
    • A strong showing could help support an ouster and deepen a selloff in the financial markets. Brazil's benchmark Ibovespa stock index has plunged 17.2% since she was re-elected last October.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Aug. 14, 2015, 4:00 AM | 4 Comments
  • Aug. 11, 2015, 4:27 PM
    • Weaker-than-expected economic performance, the upward trend in government spending, and lack of consensus on government reform are teaming up to make the country's debt situation "deteriorate materially" this year and next, says Moody's, cutting Brazil's credit rating to Baa3 from Baa2. With the cut, the outlook is upgraded to stable from negative.
    • Not mentioned by Moody's is last night's devaluation of the yuan and how that might (negatively) impact exporters.
    • EWZ +1.9% in active after hours trading. The ETF is lower by about 50% over the past year.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Aug. 11, 2015, 4:27 PM
  • Jul. 29, 2015, 2:53 AM
    • Standard & Poor's has warned Brazil it could lose its coveted investment-grade rating in the coming year if fallout from a number of corruption investigations further stymies economic growth and implementation of austerity measures.
    • The agency has now put the country's foreign currency rating, which is rated one notch above junk, on negative outlook for possible downgrade.
    • The Brazilian real slid 2% to 3.43 per dollar following the announcement, its weakest level in more than 12 years.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Jul. 29, 2015, 2:53 AM | 1 Comment
  • Jul. 24, 2015, 11:48 AM
    | Jul. 24, 2015, 11:48 AM | 19 Comments
BRAQ Description
The Global X Brazil Consumer ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Brazil Consumer Index.
See more details on sponsor's website
Country: Brazil
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