Global X Brazil Consumer ETF(BRAQ)- NYSEARCA
  • 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
  • Wed, Aug. 17, 2:53 AM
    • "Impeachment without a crime, if consummated, would be a coup," Brazilian President Dilma Rousseff said in a live broadcast on Facebook, calling for early elections to unite a country mired in recession.
    • Rousseff was suspended in May on accusations she doctored government fiscal accounts to get re-elected in 2014. She's widely expected to be impeached and permanently removed from office later this month.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Aug. 17, 2:53 AM | 2 Comments
  • Wed, Aug. 10, 2:20 AM
    • The real closed at more than a one-year high after Brazil's Senate voted 59 to 21 to put suspended President Dilma Rousseff on an impeachment trial for illegally financing government spending.
    • The decision could seal her downfall and cement the power of her successor, Michel Temer, as early as this month.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Aug. 10, 2:20 AM | 4 Comments
  • Fri, Aug. 5, 4:28 AM
    • The start of the Olympics in Rio today has been shadowed by a storm of bad news - not including a Zika outbreak that prompted 150 health officials to recommend moving the games out of the city as a public safety measure.
    • Political uncertainty, protests, violent crime, infrastructure failures and poverty are set to greet spectators this weekend in an event that some economists say could mean upward of $15B in losses for Brazil.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Fri, Aug. 5, 4:28 AM | 10 Comments
  • Wed, Aug. 3, 3:51 AM
    • Rio 2016 ticket sales are lagging behind those of recent Olympics, as the host city grapples with recession, a Zika epidemic and worries about security days before the opening ceremonies.
    • According to local organizers, about 79% of the 6.1M tickets had been sold as of Aug. 1. That's well behind the final figures for the last two Summer Games in London and Beijing, both of which sold more than 95% of their seats.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, Aug. 3, 3:51 AM | 3 Comments
  • Mon, Aug. 1, 5:58 AM
    • Brazil's interim President Michel Temer has expressed confidence in Rio de Janeiro's ability to pull off a successful Olympics (beginning this Friday), despite fresh data showing surging crime rates in the capital.
    • Around 85,000 security personnel are expected to be deployed during the Games, the largest contingent for a mega event, to guard the half a million visitors which will descend upon Rio.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Mon, Aug. 1, 5:58 AM | 10 Comments
  • Tue, Jul. 26, 4:54 AM
    • Days before the Summer Olympics begin in Brazil, the country's central bank will release June's current-account figures.
    • Brazil has a shrinking deficit, and the data could reflect potential damage from a recent strengthening of the real.
    • While some athletes are staying away from the games this year due to Zika concerns, over 10,000 players are expected to participate.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, Jul. 26, 4:54 AM
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