Global X Brazil Consumer ETF
 (BRAQ)

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  • Wed, Feb. 3, 12:04 PM
    • Possibly helping sentiment for the thoroughly roughed-up names is Banco Bradesco's (BBD +7.4%) cancellation of a capital raise.
    • SEC Form 6-K
    • Also headed higher is Itau Unibacno (ITUB +5.8%) after yesterday's post-earnings plunge. The lender beat trimmed down estimates, but also said it expected loan-loss provisions to rise 38% this year. NPLs in Q4 were 3.5%, up 20 basis points from Q3 and 40 bps from a year ago.
    • The Bovespa is up 2.15% in today's session. EWZ +4.35%
    • ETFs: EWZ, BRF, BRZU, EWZS, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Wed, Feb. 3, 12:04 PM | 5 Comments
  • Dec. 16, 2015, 12:59 PM
    • Petrobras (PBR -1.9%) will have a smaller structure within four years but be much more profitable than today, and the divestment program adopted by the company this year will be increased next year, CEO Aldemir Bendine says.
    • PBR will come out of its current crisis strengthened and become "more profitable than today with greater operational capacity," the CEO says, adding that the $15B divestment plan announced earlier this year would be completed in 2016 with the sale of additional assets.
    • But shares are lower as Fitch Ratings downgrades Brazil’s debt ratings into junk territory, moving the country’s long-term foreign and local currency issuer default ratings to BB+ from BBB- with a negative outlook.
    • And in the latest news involving the corruption probe into PBR, Brazil's federal police yesterday raided the homes and offices of the House speaker and other politicians.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 16, 2015, 12:59 PM | 12 Comments
  • Dec. 16, 2015, 10:00 AM
    • While not a huge surprise, the Fitch one-notch downgrade to BB+ means two major credit rating agencies have now stripped Brazil of its investment-grade status (S&P previously). With the number now two, many institutional types will find themselves forced to exit Brazilian exposure.
    • Ftich: "Brazil's downgrade reflects the economy's deeper recession than previously anticipated, continued adverse fiscal developments and the increased political uncertainty that could further undermine the government's capacity to effectively implement fiscal measures to stabilize the growing debt burden ... Brazil's economic slump is not abating."
    • The agency retains its negative outlook, meaning a decent chance of another downgrade in the not-to-distant future.
    • The Bovespa is off 1.1% in early action. EWZ -2.5% as it must also contend with a 1% decline in the real (NYSEARCA:BZF).
    • Previously: Fitch: Brazil downgrades to get worse (Dec. 7)
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 16, 2015, 10:00 AM | 3 Comments
  • Dec. 10, 2015, 12:27 PM
    • Moody's downgrades all ratings for Petrobras (PBR -4.2%) to Ba3 from Ba2, further into junk territory, and places them on review for possible further downgrade.
    • The downgrade reflects PBR's "elevated refinancing risks in the face of deteriorating industry conditions that make it more difficult to raise cash through asset sales," the ratings agency says.
    • Moody's also places Brazil's Baa3 rating on review for downgrade, driven by a rapidly deteriorating economy and "worsening governability," after the congress opened impeachment proceedings against Pres. Rousseff.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 10, 2015, 12:27 PM | 13 Comments
  • Dec. 9, 2015, 10:29 AM
    • While the stacking of the lower-house impeachment committee with critics of the Brazilian president makes things look bad for her, Eurasia Group notes a two-thirds supermajority is still necessary to send Rousseff to trial in the Senate.
    • This means the government needs just 172 legislators to either vote with Rousseff or not show up. The opposition needs 342 votes, and yesterday's vote (on the makeup of the committee) garnered only 272.
    • Key for Roussff, says Euraisa Group, is swift action by Congress. The longer Congress takes, the more time prosecutors have to widen the massive corruption probe even further, and possibly drive more votes to the impeachment side.
    • The Bovespa is surging 4.3% in early action today.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 9, 2015, 10:29 AM | 3 Comments
  • Nov. 25, 2015, 9:18 AM
    • Grupo BTG Pactual is lower by 20% in Brazilian trade after its billionaire founder and CEO Andre Esteves was arrested as part of the investigation into the pay-to-play scheme between a group of builders and Petrobras (NYSE:PBR). Police also detained the government's leader in the Senate, Delcidio Amaral, on suspicion of harming the probe.
    • The action's "take the Petrobras probe to a whole new level," says Nicholas Spiro at Spiro Sovereign Strategy. "The scandal is becoming more debilitating by the day."
    • PBR -4.7%, EWZ -4.1%, VALE -2.8% premarket
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Nov. 25, 2015, 9:18 AM | 8 Comments
  • Nov. 18, 2015, 3:49 PM
    • Brazil stocks are mostly higher and the real is a top gainer among the world's currencies after the Congress upheld Pres. Rousseff’s vetoes of legislation that would have substantially increased spending at a time the government is trying to shore up its budget and prevent a credit rating downgrade.
    • By approving the vetoes, lawmakers granted Rousseff a rare political victory in a year when Congress has voted mostly against the administration.
    • "The votes were a positive sign for markets, although it is a bit early to say that the tide has changed for Brazilian assets," says a currency manager at TOV Corretora de Cambio in Sao Paulo.
    • PBR +3.9%, PBR.A +3.8%, VALE +3.3%, EBR +2.6%, ELP +3%, CIG +2.9%, CPL +4.7%, SBS +3.9%, BSBR +2.8%, BBD +3.4%, ITUB +2.6%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Nov. 18, 2015, 3:49 PM | 11 Comments
  • Oct. 7, 2015, 10:11 AM
    • Commodity-related names are soaring as the prices for things pulled from the earth jump and Morgan Stanley says now's the time to buy the brutally beaten-down sector.
    • Brazil's Petrobas (PBR +9.9%) and Vale (VALE +9.6%) are partaking, as are the country's lenders like Banco Santander Brasil (BSBR +9%), Banco Bradesco (BBD +6.1%), and Itau Unibanco (ITUB +5.2%).
    • The iShares MSCI Brazil Index ETF (EWZ +4.1%)
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Oct. 7, 2015, 10:11 AM | 5 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
  • 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
  • Jul. 24, 2015, 11:48 AM
    | Jul. 24, 2015, 11:48 AM | 19 Comments
  • Jul. 17, 2015, 3:59 PM
    • Brazil's political crisis deepens as Eduardo Cunha, the head of Brazil’s lower house, said today he is breaking with the ruling coalition.
    • Cunha accused Pres. Rousseff's administration of pressuring prosecutors to implicate him in the widening corruption scandal at Petrobras scheme; late yesterday, the federal judge leading the investigation broadcast testimony from a defendant who turned state’s evidence alleging that Cunha took bribes.
    • The move comes after a series of recent defeats in congress for Rousseff as lawmakers turned aside efforts to contain spending and raise taxes as she seeks to preserve Brazil’s investment-grade credit rating.
    • PBR -5.5%, VALE -2.2%, EBR -2.1%, ELP -2.9%, CIG -5.8%, CPL -2.1%, SBS -2.9%, BSBR -1.1%, BBD -2.2%, ITUB -1.5%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Jul. 17, 2015, 3:59 PM | 8 Comments
  • May 22, 2015, 12:34 PM
    • Brazil stocks are sharply lower after Eletrobras (EBR -4.5%), the country’s largest utility by revenue, was cut to junk by Moody’s.
    • While EBR showed “some financial improvement” in its Q1 earnings, its credit metrics remain too weak to remain at investment grade, Moody’s said, also citing an investigation on alleged bribes involving the former head of a subsidiary.
    • Meanwhile, Pres. Rousseff is trying to salvage her presidency as things go from bad to worse amid the Petrobras (PBR -3.8%) corruption scandal, with a new poll finding that 63% of Brazilians favor impeachment proceedings.
    • Brazilian opposition lawmakers are considering impeachment, either as an accessory to the corruption or for crimes of “irresponsibility” with finances.
    • Also: PBR.A -3.8%, EBR.B -6.6%, VALE -0.2%, ELP -1.2%, CIG -3.3%, CPL -2%, SBS -4.7%, BSBR -2.7%, BBD -2.6%, ITUB -2.3%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | May 22, 2015, 12:34 PM | 26 Comments
  • Apr. 24, 2015, 11:01 AM
    • Continuing details on numerous corruption scandals, sluggish economic growth, and credit downgrades are garnering most of the headlines out of Brazil, but the Bovespa's 2.1% gain today has that index higher by 21% since a late-January bottom.
    • 70% gain in Petrobas over the last month and 25% for Vale lead the way. The banks are also on the move, though less subdued: Banco Santander Brasil (NYSE:BSBR) and Itau Unibanco (NYSE:ITUB) are up 13% and 16%, respectively. Banco Bradesco (NYSE:BBD) - recently the subject of a Goldman downgrade - is off 6% over the last month and 19% YTD.
    • The iShares MSCI Brazil ETF (NYSEARCA:EWZ) has lagged - its top three holdings are Itau Unibanco, Ambev (NYSE:ABEV), and Banco Bradesco. The ETF is flat YTD, though higher by 15% over the last month.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Apr. 24, 2015, 11:01 AM | 9 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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