BRAQ
Global X Brazil Consumer ETFNYSEARCA
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  • Wed, Nov. 30, 3:58 PM
    • Some economists had expected a 50 basis point cut in the Selic rate to 13.5%, but the central bank opted for a 25 basis point move. Nevertheless, a cycle is underway, as this is the second rate reduction in two months.
    • Prior to October's move, there hadn't been a rate cut in four years.
    • Giving room for the central bank to move is a noticeable slowing in inflation - to 7.9% in October from nearly 11% at the start of the year (the target is 4.5%).
    • Then there's the economy - expected to contract 3.5% this year after shrinking 3.8% in 2015.
    • EWZ +1.35% on the session, +63% for the year.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Nov. 30, 3:58 PM
  • Tue, Nov. 29, 3:39 AM
    • Brazil's Senate is scheduled to hold a first-round vote today on a constitutional amendment that would cap government spending in inflation-adjusted terms for as long as 20 years.
    • The bill, which sailed through the lower house last month, is one of the cornerstones of President Michel Temer's effort to shore up confidence in Latin America's largest economy.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, Nov. 29, 3:39 AM | 1 Comment
  • Tue, Nov. 22, 4:01 AM
    • Brazil's real sold-off in the past fortnight as the U.S. election outcome takes its toll on emerging market currencies.
    • With the country struggling to exit its worst recession in over eight decades, the government also slashed its 2017 economic growth estimate to 1% from 1.6%.
    • The benchmark Selic rate is further expected to be lowered by 25 bps this month with more cuts predicted next year.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, Nov. 22, 4:01 AM
  • Fri, Nov. 11, 4:15 AM
    • Brazil has been plunged into a fresh bout of political uncertainty after lawyers for former president Dilma Rousseff presented evidence suggesting her successor, Michel Temer, accepted bribes from a construction company.
    • If the court rules that occurred, it could reverse her entire ticket's win. That would mean Temer, a member of the Brazilian Democratic Movement Party, would also be removed from office.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Fri, Nov. 11, 4:15 AM | 2 Comments
  • Tue, Oct. 11, 3:11 AM
    • Brazil's lower house of Congress has approved a landmark proposal to cap public spending, a major victory for President Temer's efforts to regain market confidence and pull the economy out of its worst recession ever.
    • Separately, corruption charges against former President Lula da Silva are piling up as prosecutors accused him of an alleged bribery scheme related to contracts in Angola. If found guilty, he could face up to 35 years in prison.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, Oct. 11, 3:11 AM
  • Fri, Sep. 30, 5:09 AM
    • The IMF is calling on Brazil's new government to step up efforts to close a yawning fiscal gap, recommending tough policy changes for it to pull out of a bruising recession.
    • "If key reforms are watered down or get stalled in Congress, the boost to confidence will be short lived, and the recession may continue," the IMF wrote in a preliminary findings report.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Fri, Sep. 30, 5:09 AM | 2 Comments
  • Wed, Sep. 21, 3:24 AM
    • The judge overseeing the investigation into the colossal scandal surrounding Brazil's Petrobras (NYSE:PBR) has accepted corruption charges against the nation's iconic former leader, Luiz Inacio Lula da Silva.
    • Plagued by scandals, his leftist Workers' Party lost the presidency in August when the Senate impeached Lula's handpicked successor, Dilma Rousseff, in a power struggle that has consumed the political establishment.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Sep. 21, 3:24 AM | 6 Comments
  • Wed, Sep. 14, 5:44 PM
    • Brazilian prosecutors today charged ex-President Luiz Inacio Lula da Silva - probably still the country's most popular politician - with being the "top boss" of a vast corruption scheme at state oil company Petrobras (NYSE:PBR).
    • The prosecutor says political kickbacks had caused 42B reais ($12.6B) in losses, and personally had received 3.7M reais ($1.11M) in bribes; Lula's lawyers say the accusations are part of an effort to stop him running in the 2018 election.
    • The two-year-old Operation Carwash investigation has uncovered how political appointees named by Lula's Workers Party and its allies handed overpriced contracts to engineering firms in exchange for illicit party funding and bribes; the probe helped propel last month's impeachment of Lula's chosen successor, Dilma Rousseff, on unrelated charges of breaking budget rules.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Sep. 14, 5:44 PM | 17 Comments
  • Thu, Sep. 1, 11:38 AM
    • "There is ample room for foreign and domestic long-only investors to add to Brazil equities," says JPMorgan strategist Pedro Martins. "There is no doubt the investment thesis becomes simpler: lower political risk, falling interest rates and cyclical economic recovery.” His three themes:
    • Exposure to high-beta stocks, among them Itau Unibanco (NYSE:ITUB).
    • Position for declining intrest rates, also a boon to ITUB.
    • Alignment with the cyclical domestic recovery - maybe a strange recommendation given that GDP is expected to grow just 0.7% next year. But that's coming from negative 3.6% in 2016 - a pretty large "delta," says Martins.
    • The Bovespa is flat today and up 61% YTD.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Thu, Sep. 1, 11:38 AM
  • Thu, Sep. 1, 4:49 AM
    • Labeling it a parliamentary coup, Brazil's former President Dilma Rousseff has pledged to appeal her impeachment, calling on supporters to fight a conservative agenda empowered by her dismissal.
    • "Right now I will not say goodbye to you. I am certain I can say, 'See you soon,'" she said in Brasilia.
    • Thousands also took to the streets of Rio last night to protest the swearing-in of Michel Temer as President.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Thu, Sep. 1, 4:49 AM | 4 Comments
  • Wed, Aug. 31, 12:53 PM
    • In not too much of a surprise, lawmakers in that country's Senate have voted to impeach Dilma Rousseff, thus permanently removing her from the presidency.
    • The vote was 61 for removal, and 20 against.
    • Rousseff could appeal the decision to the Supreme Court.
    • The Bovespa is lower by 1%, but was down 1.5% ahead of the impeachment vote. EWZ -0.5%
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Aug. 31, 12:53 PM | 62 Comments
  • Wed, Aug. 31, 3:40 AM
    • Brazil's Senate continued the final phase of President Dilma Rousseff’s impeachment trial late Tuesday, though the debate isn't expected to sway lawmakers from ousting her in a vote this morning.
    • Rousseff's administration is accused of using illegal loans from state banks to camouflage the precarious state of Brazil's federal finances.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Aug. 31, 3:40 AM
  • Mon, Aug. 29, 3:06 PM
    • “My conscience is clear," she tells lawmakers turned judges. "I did not commit a crime.” She says the impeachment process has worsened the country's recession, and calls interim President Michel Temer a "usurper." Brazil, she says, would not have elected someone who picked a Cabinet of all white men in a country more than 50% non-white, she adds.
    • The Senate votes on Rousseff's fate either tomorrow or Wednesday. Meanwhile, there's plenty of economic news coming this week, including Q2 GDP, August wholesale inflation, and government budget numbers. The central bank meets Wednesday and is expected to hold its benchmark rate steady at 14.25%.
    • The Brazilian real (NYSEARCA:BZF) continues to move higher, up 0.6% today and 22% for the year. The Bovespa is up 1.8% this session.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Mon, Aug. 29, 3:06 PM
  • Sun, Aug. 28, 11:32 AM
    • Brazil's impeachment trial on Saturday advanced toward its final stage, after three days of witness testimony deepened divisions among senators debating whether to permanently remove President Dilma Rousseff from office.
    • Lawmakers are expected to hold a final vote Tuesday or Wednesday next week, which will result in her ouster if they muster at least a two-thirds majority, as is widely expected.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Sun, Aug. 28, 11:32 AM | 4 Comments
  • Thu, Aug. 25, 3:14 AM
    • Brazil's Senate is today due to begin the impeachment trial of suspended President Dilma Rousseff for violating budget laws.
    • Rousseff's opponents need 54 of 81 senators to vote for her impeachment, after which she will be removed from office and replaced by Vice President Michel Temer.
    • A poll shows that 51 senators will vote to dismiss Rousseff, 19 will support her and 11 are undecided.
    • Brazilian markets have rallied lately over the prospect of the right-wing Temer permanently taking over from the leftist Rouseff, although Temer faces having to drag the economy out of its its worst recession since the Great Depression and bringing down a massive budget deficit.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Thu, Aug. 25, 3:14 AM | 5 Comments
  • Thu, Aug. 18, 4:17 AM
    • Despite struggling in two years of recession, Brazil has raised its prediction for economic growth in 2017 because of an increase in business and consumer confidence levels.
    • The country estimates gross domestic product to increase 1.6% next year, compared with a previous forecast for an expansion of 1.2%, and left its forecast for inflation during 2017 unchanged at 4.8%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Thu, Aug. 18, 4:17 AM | 2 Comments
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