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Direxion Daily Brazil Bear 3X ETF (BRZS)

- NYSEARCA
BRZS is defunct since September 23, 2014. Delisted due to lack of investor interest
  • Mon, May 4, 3:28 AM
    | 5 Comments
  • Nov. 25, 2014, 12:31 PM
    • Brazil Pres. Rousseff reportedly will appoint former treasury secretary Joaquim Levy as finance minister later this week, a move that has moved major Brazilian stocks higher although the move had been anticipated.
    • Levy, head of Bradesco Asset Management, is considered a fiscal hawk who helped Brazil obtain its investment credit grade as treasury secretary; he will replace Guido Mantega, who said he will step down for personal reasons.
    • PBR +1.8%, VALE +0.4%, BBD +0.7%, BSBR +5%, ITUB +0.5%, GOL +1.3%.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Nov. 21, 2014, 10:06 AM
    • Petrobras (PBR +7.2%) and Vale (VALE +9.6%) surge higher in anticipation that Brazil may appoint a new market-friendly finance minister today, perhaps signaling a shift away from the leftist, interventionist policies blamed for Brazil's stagnant economic growth in recent years.
    • One of three reported finalists for the job is University of Chicago-trained Joaquim Levy, CEO of Bradesco Asset Management, an arm of Banco Bradesco (BBD +4.9%); he is considered a fiscal hawk who helped Brazil obtain its investment credit grade in a previous stint at treasury secretary.
    • The other contenders are said to be central bank president Alexandre Tombini and Nelson Barbosa.
    • Also: ITUB +3.8%, BSBR +2.9%, GOL +4.6%.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • Nov. 19, 2014, 3:09 PM
    • “The Brazilian economy is in a perilous state," says Nomura's Tony Volpon after a recent visit. Among the red flags: A weakening labor market, inflation above target, a primary government budget deficit, a trade deficit, and a corruption scandal engulfing the country's largest corporation, Petrobas. "One could conclude that the Brazilian economy is unraveling."
    • Maybe more important than the political consequences of the Petrobas investigation are the economic ones, says Volpon, noting the probe is spreading to companies in the electricity and financial sector which do business with the giant. While the scandal is good for clearing out the pipes in the medium-term, in the short-term, there's the chance of "a negative supply-side exogenous shock of unknown proportions."
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 3 Comments
  • Nov. 14, 2014, 10:23 AM
    • "It will be difficult to maintain the investment-grade rating even under best case scenario,” says Siobhan Morden, head of Latin America strategy at Jefferies.
    • Crucial at the moment is who will be appointed finance minister, says Morden, as the selection will tell us whether newly-elected President Rousseff is committed to fiscal restraint.
    • As for the stock market and the real (both currently under pressure), they may have already discounted the negative headline risk on cabinet appointments, says Morden.
    • The Bovespa is lower by 1%. EWZ -2.25%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • Oct. 30, 2014, 9:28 AM
    • The central bank had been expected to leave policy unchanged, but instead last night hiked the benchmark Selic rate by 25 bps to 11.25%. The move comes following the re-election of Dilma Rousseff, which rattled Brazilian markets.
    • "Very well done," says Goldman's Alberto Ramos. "This definitely is a great step forward to rebuild the credibility of the inflation-targeting regime ... This is market friendly."
    • The Bovespa is higher by 2% in the early going. EWZ +3.2% premarket
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 3 Comments
  • Oct. 29, 2014, 3:15 AM
    • In line with an earlier statement from Moody's saying it is in no rush to decide whether to cut Brazil's rating, newly re-elected President Dilma Roussef affirmed that the country will avoid a downgrade in her second term, and that the economy will recover.
    • Brazil currently stands two notches into investment-grade zone for Moody's and Fitch, although Standard & Poor's previously cut the government's debt to near-junk level.
    • Meanwhile, Brazil's central bank will likely keep interest rates steady for a fourth straight time today, holding its ground until Rousseff announces changes to economic policy.
    • ETFs: EWZ, BRZU, BZQ, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Oct. 28, 2014, 2:24 PM
    • "I think we'd be crazy not to," says Jim Chanos, still short Brazil, but taking some profits after a near 20% dive in the Bovespa over the last couple of months which may or may not have had its denouement in yesterday's post-election plunge.
    • Among the individual names Chanos had in the past talked about being short were Petrobas (PBR +4.3%) and Vale (VALE +0.6%), from which the Bovespa is heavily weighted. The two combine to represent about 8% of the assets in the iShares MSCI Brazil Capped ETF (EWZ +5.6%).
    • "I think a lot of [Rousseff's reelection] is priced in already now," says Chanos.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Oct. 27, 2014, 7:08 PM
    • If Goldman's new forecast for Brent crude oil prices of $85 in 2015 and ~$90 in the long term proves correct, it would be a big problem for Petrobras (NYSE:PBR), since it has sunk tens of billions of borrowed dollars into development of barrels for future production, Heard On The Street's Liam Denning writes, noting that Morgan Stanley estimates marginal costs on Brazilian fields range from ~$75/bbl to more than $100.
    • While lower global oil prices should alleviate some of PBR’s downstream losses, the net effect is still negative; UBS estimates that even including some benefits, a Brent price of $80-$90 cuts the company’s net asset value by 20%-40%.
    • Lower long-term oil price assumptions also could reduce the incentive to develop new fields; IEA projections for Brazil to contribute 16% of the growth in non-OPEC oil production during 2013-20 may now have to come down, which would add yet another headwind to Brazil’s economy.
    • ETFs: EWZ, BRZU, BZQ, UBR, BRZS, DBBR, FBZ
    | 4 Comments
  • Oct. 27, 2014, 10:31 AM
    • It's an ugly open for Petrobras (PBR -14.2%) following Pres. Rousseff's re-election as Brazil's president, as hopes are dashed for a regime change that might have helped investor confidence in the country and the company.
    • Rousseff's victory "was not totally priced in yet," Loomis Sayles analyst Bianca Taylor says, adding that she expects a slump in Brazil assets as a whole in the next few days.
    • PBR and state-controlled utility Centrais Eletricas Brasileiras (EBR -12.3%) were the two worst performing stocks in the 834-member MSCI Emerging Markets Index this morning.
    • Also: VALE -5.9%, ITUB -6.5%, BBD -8.1%, GOL -7.6%.
    • Brazil ETFs: EWZ -6.7%, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 6 Comments
  • Oct. 27, 2014, 7:12 AM
    | Comment!
  • Oct. 26, 2014, 8:41 PM
    • Incumbent Dilma Rousseff is re-elected to a second term as Brazil's president, winning about 51% of the votes, according to the official count. It could be bad news for Brazilian stocks, or just maybe her victory was already priced in.
    • The Bovespa had been about 2014's strongest major global market through roughly August as polls showed support evaporating for Rousseff, but the index has slumped more than 15% over the past two months as a victory by her more conservative challenger Aecio Neves looked less and less likely.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • Among individual stocks: Petrobas (NYSE:PBR), Vale (NYSE:VALE), Itau Unibanco (NYSE:ITUB), Banco Bradesco (NYSE:BBD), Gol Linhas (NYSE:GOL).
    • Broad Latin American ETFs: ILF, LBJ, GML, EEML, FLN
    | 8 Comments
  • Oct. 24, 2014, 11:11 AM
    • An outlier of a poll shows opposition candidate Aecio Neves with a sizable (though shrinking) lead over President Dilma Rousseff. Other polls have consistently shown Rousseff with a lead of six to eight percentage points. Still to come is big debate between the two contenders tonight. The election is on Sunday.
    • The credibility of opinion polling is somewhat suspect in Brazil, with different surveys showing wildly different results, not to mention all the major pollsters failing to capture the extent of Neves' support ahead of the first round of elections earlier this month.
    • The Bovespa is up 3.6%. EWZ +5.3%
    • Petrobas (PBR +6.3%), Vale (VALE +4.4%), Itau Unibanco (ITUB +6.1%), Banco Bradesco (BBD +5.5%), Gol Linhas (GOL +6.6%)
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • The iShares S&P Latin America 40 (ILF +3%)
    • Broad South American ETFs: ILF, LBJ, GML, EEML, FLN
    | 3 Comments
  • Oct. 16, 2014, 3:26 PM
    • The latest poll from overnight continues to show the challenger (and market favorite) Aecio Neves ahead by two points, but Rousseff's approval ratings improved and Neves' rejection numbers increased, notes Eurasia Group, "suggesting that while voter intentions remained constant the president’s campaign is gaining some momentum."
    • The data reinforces the agency's feeling that Rousseff has a 60% probability of winning re-election on October 26.
    • The Bovespa is lower by 2.8%. EWZ -3.4%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • Oct. 13, 2014, 11:30 AM
    • Presidential challenger Aecio Neves over the weekend received the endorsement of Marina Silva - the 3rd-place finisher in the first election round - and the latest poll shows Neves outgunning incumbent Dilma Rousseff by 52.4% to 36.7%.
    • The runoff election is set for October 26.
    • The Bovespa is soaring, up 4.4%, led by Petrobas (PBR +9%), Vale (VALE +5.2%), GOL Linhas Aereas (GOL +6.4%), Banco Bradesco (BBD +8.8%), and Itau Unibanco (ITUB +8.7%).
    • The iShares MSCI Brazil Index (EWZ +5.1%).
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • The iShares S&P Latin America 40 Index (ILF +3.7%).
    • Broad South American ETFs: ILF, LBJ, GML, EEML, FLN
    | 7 Comments
  • Oct. 6, 2014, 7:03 AM
    • The iShares MSCI Brazil Index ETF (NYSEARCA:EWZ) is ahead by 6.7% premarket after President Dilma Rousseff pulls in just 42% of the vote in Brazil's 3-way election, and her more-conservative challenger Aecio Neves gets 34%, well ahead of the 26% support he saw in the most recent pre-election poll.
    • Finishing in 3rd place is Marina Silva with 21% of the votes.
    • Brazilian stocks have been rallying all year on hope Rousseff was set to be tossed, but lately have given back some gains on worry she might in fact win another term.
    • The runoff election will be on October 26.
    • Petrobas (NYSE:PBR+14.5%, Vale (NYSE:VALE+3.5%, Itau Unibanco (NYSE:ITUB+1.6%, Banco Bradesco (NYSE:BBD+3.9% premarket
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 17 Comments
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BRZS Description
The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the MSCI Brazil 25-50 Index. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange traded funds.
See more details on sponsor's website
Country: Brazil
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