WisdomTree Brazilian Real ETF (BZF) - NYSEARCA
  • Dec. 18, 2012, 8:14 AM
    Time flies. Wasn't it just a matter of weeks ago when Brazilian finmin Mantega - frustrated over the strength of the real - warned of currency wars? Now dealing with a sliding currency, Brazil reduces reserve requirements on short greenback positions, effectively lowering the cost for local banks to sell dollars. BZF -5.3% YTD.
    | Dec. 18, 2012, 8:14 AM
  • Nov. 30, 2012, 7:39 AM

    Brazil's GDP grows just 0.6% in Q3, far less than forecasts for 1.2%. The punk print is lead by a steep 2% decline in investment. "If investment doesn't rebound then we are in trouble in 2013," says an economist. Interest rate futures - which had baked in no policy changes for more than a year - are sharply higher, now beginning to price in further rate cuts. EWZ +0.4% premarket.

    | Nov. 30, 2012, 7:39 AM | 1 Comment
  • Jul. 2, 2012, 9:31 AM
    Brazil's June PMI falls to 48.5 from 49.3 previously, the lowest read since October. The Q2 average of 49 is below Q1 of 51 and 2011 Q2 of 50.1, notes HSBC. "This also reinforces the perception that the manufacturing sector kept struggling with competitiveness issues," i.e., the real is too strong.
    | Jul. 2, 2012, 9:31 AM | 1 Comment
  • Jun. 5, 2012, 9:50 AM
    Brazil's May services PMI dives to 49.7 from 54.4 previously. It's the lowest level since July 2009 and follows the manufacturing PMI also sliding below the 50 level. "Sluggishness in the industrial sector is spreading to services," says HSBC's Andres Loes.
    | Jun. 5, 2012, 9:50 AM
  • Jun. 1, 2012, 9:14 AM
    Brazil's May PMI at 49.3 is unchanged from April, but remains in contraction territory, with export orders falling to their lowest level of 2012. "(The) manufacturing sector is going through a particularly difficult time, squeezed between rising costs on one side, and competition from imports on the other," says HSBC.
    | Jun. 1, 2012, 9:14 AM
  • May 30, 2012, 7:29 AM

    Brazil's central bank is set to cut rates for the 7th consecutive time tonight to deal with a still-slowing economy. Consensus is for a 50 basis point reduction to 8.5%. At its last policy meeting, the bank surprised with a 75 bp cut. Brazilian shares have performed about as badly as Spain's of late. EWZ -24% in the last 90 days.

    | May 30, 2012, 7:29 AM
  • May 18, 2012, 3:32 PM
    Brazil's economic activity index fell 0.35% in March and rose just 0.91% Y/Y, well below expectations for a 2.4% gain. The news prompted yields on interest rate futures contracts to fall to record lows as traders place bets on more policy ease from the central bank. The Bovespa outperforms today, +1.5%.
    | May 18, 2012, 3:32 PM
  • May 18, 2012, 12:35 PM
    It's time to remove the 'B' in BRIC and create BANC - a group of commodity-driven currencies (Brazil, Australia, New Zealand, Canada), writes Vince Cignarella. The real has a far stronger correlation with these than it does with than with other emerging market currencies. BZF -5.1% YTD.
    | May 18, 2012, 12:35 PM | 1 Comment
  • May 9, 2012, 12:04 PM
    Brazilian inflation gains 0.64% in April, the biggest jump in a year, and ahead of estimates for 0.59%. The speedy move was helped by a 12.3% decline in the real over the last 3 months, but is unlikely to push the central bank off a course of further rate cuts, especially as the annual inflation rate fell to 5.1% from 5.24%. EWZ -1.6%.
    | May 9, 2012, 12:04 PM
  • May 3, 2012, 8:26 AM
    The real (BZF) was the worst performing emerging market currency last month, losing 4.3% vs. the dollar to about its weakest level in 3 years. Some expect the central bank to continue its aggressive ease and cut the Selic below 8.75% this month (8.75% in Brazil is like 2% in the U.S. - unimaginable, until recently). The weakened real isn't yet doing holders of EWZ any favors.
    | May 3, 2012, 8:26 AM
  • May 2, 2012, 12:06 PM
    Brazil's April PMI declines to 49.3 from 51.1 previously, the first contraction in 2012. The only sub-indices above 50 were (what else) input and output prices, with output prices hitting their highest level since May. Better Brazil than Spain, where input prices are on the rise, but output prices are falling. Brazil ETF: EWZ -0.7%.
    | May 2, 2012, 12:06 PM
  • Apr. 27, 2012, 3:24 PM

    Brazil's Bovespa continues to drop, -0.8% today as VALE, already stung by diving earnings, has its $5.9B potash project in Argentina threatened by Kirchner's shenanigans. Brazil's banks are also booking losses as the country enters the "not fun" part of a consumer credit boom. On the plus side, the central bank is aggressively cutting rates. The divergence between Brazil and the S&P.

    | Apr. 27, 2012, 3:24 PM | 2 Comments
  • Apr. 25, 2012, 6:12 PM

    Not joining in the worldwide rally today was Brazil (EWZ -0.8%), dragged down by a plunge in Itau Unibanco (ITUB -5.7%). Rising defaults forced the lender to raise provisions for bad loans by 38% as the country faces the downside of a consumer credit boom. Keep an eye on tomorrow's earnings from Banco Santander's (STD) - from Spain (with its own issues), but with large Brazilian operations.

    | Apr. 25, 2012, 6:12 PM
  • Apr. 23, 2012, 3:23 PM
    Where's the rally, asks Scotty Barber, who notes the BRICs - during periods when their central banks are cutting rates - outperform developed markets. Brazil's 75 point cut (with more to come) was the loudest move, but policy is easing in the others as well. As of yet there's been no rally in either absolute or relative terms.
    | Apr. 23, 2012, 3:23 PM
  • Apr. 19, 2012, 10:54 AM

    The Bovespa hugs the flatline after Brazil's central bank cut its benchmark rate an expected 75 bps to 9% last night. The Copom's accompanying statement, however, was a dovish one - leaving the door open for more cuts after earlier giving the impression yesterday's move would be the last for this cycle.

    | Apr. 19, 2012, 10:54 AM
  • Apr. 18, 2012, 7:22 PM
    Brazil cuts its benchmark Selic interest rate to 9% from 9.75% in a unanimous decision - as expected by most all economists, but now near an all-time low.
    | Apr. 18, 2012, 7:22 PM | 2 Comments
BZF Description
WisdomTree Brazilian Real Fund seeks to achieve total returns reflective of both money market rates in Brazil available to foreign investors and changes in value of the Brazilian Real relative to the U.S. dollar.
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Country: Brazil
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