ProShares UltraShort MSCI Brazil Capped ETF (BZQ) - NYSEARCA
  • Thu, Jun. 16, 11:54 AM
    • Brazil’s Acting President Temer denies allegations that he sought inappropriate campaign donations for his party, after being directly implicated in the Petrobras (PBR -1.7%) corruption investigation for the first time.
    • The former head of PBR's transportation unit said in newly released plea bargain testimony that he organized at Temer’s request a donation from a construction firm to Temer’s party in exchange for a leg up on winning contracts.
    • Brazilian news media have reported leaked portions of plea testimony in recent weeks, including allegations that resulted in two of Temer’s cabinet ministers stepping down last month.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Thu, Jun. 16, 11:54 AM | 8 Comments
  • Fri, May 13, 3:04 PM
    • "It's a coup," says the now-suspended president after the country's Senate voted to begin an impeachment trial against her. "My government was the target of nonstop sabotage ... The objective was to stop me from governing and therefore allow an environment inviting the coup."
    • Having bought up Brazilian shares for months in the run-up to Rousseff's exit, investors are selling the actual news, with the Bovespa lower by 3.3% today.
    • Don't chase the rally, says Calamos fund manager Nick Niziolek. "There's a lot of work to do," he says, noting the new administration needs to tackle spending, but more than 90% of expenditures are mandatory. "In order to solve their fiscal deficit and cut costs, they would have to go back and rewrite the constitution."
    • He prefers Mexico, even though its commodity exposure means it faces many of the same issues Brazil does. What Mexico also has though is strong ties to the U.S. - where 80% of the country's exports go.
    • ETFs: EWZ, EWW, MXF, BRF, BRZU, EWZS, BZQ, BRAQ, MXE, BRAZ, UBR, DBBR, UMX, DBMX, FBZ, SMK, QMEX, HEWW
    | Fri, May 13, 3:04 PM | 26 Comments
  • Mon, May 9, 11:46 AM
    • The acting speaker of Brazil's lower house has apparently annulled that body's impeachment vote against President Dilma Rousseff.
    • To review, the lower house about three weeks ago voted to impeach Rousseff, sending the action over to the Senate, where a special committee last week voted to put Rousseff on trial. Were the full Senate to agree later this week, Rousseff would be removed from office while that trial takes place.
    • This "annulment" would likely set that process back.
    • The Bovespa is lower by 2.3% in volatile action. EWZ -4.6%
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Mon, May 9, 11:46 AM | 10 Comments
  • Tue, Apr. 12, 12:15 PM
    • The possible ousting of President Dilma Rousseff took at least a symbolic step forward yesterday when a congressional committee voted 38-27 to impeach her. Next up is a possible Sunday vote by the full lower body of congress on same.
    • A two-thirds majority by the full house would be needed to send the matter to the Senate. The latest polls show it's going to be close. If affirmed, the Senate would have the power to suspend Rousseff, put her on trial, and ultimately remove her from office.
    • The Bovespa is ahead 2.1%. EWZ +0.4%
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    • Now read: Time To Move Into Brazil?
    | Tue, Apr. 12, 12:15 PM | 8 Comments
  • Thu, Mar. 17, 11:57 AM
    | Thu, Mar. 17, 11:57 AM | 12 Comments
  • Thu, Mar. 17, 10:19 AM
    | Thu, Mar. 17, 10:19 AM | 16 Comments
  • Wed, Mar. 16, 11:56 AM
    • Former President Lula de Silva will become chief of staff for President Dilma Rousseff, meaning only the country's Supreme Court has the power to put him on trial.
    • “This seems to be another shot in the dark by this government that is desperate to remain in power," says an analyst.
    • Also impacting is chatter that central bank President Tombini will exit his post.
    • The Bovespa has added to yesterday's 3.6% plunge with a 1% decline so far this session. The real off another 1.6% vs. the dollar.
    • EWZ -1.5%
    • ETFs: EWZ, BRF, BRZU, EWZS, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ, BZF
    • Previously: Brazil rally halted on word Lula to enter Rousseff government (March 15)
    | Wed, Mar. 16, 11:56 AM | 1 Comment
  • Tue, Mar. 15, 10:57 AM
    | Tue, Mar. 15, 10:57 AM | 26 Comments
  • Fri, Mar. 4, 7:20 AM
    • Speculation is flying that President Rousseff will resign as early as this weekend after Brazilian police detained former President Luiz Inacio Lula da Silva at his home.
    • This new phase of the Petrobas (NYSE:PBR) corruption probe is being dubbed "Aletheia" - meaning "real search" - by the police.
    • EWZ +6.4%, PBR +10.2%, VALE +5.9% premarket
    • ETFs: EWZ, BRF, BRZU, EWZS, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Fri, Mar. 4, 7:20 AM | 29 Comments
  • Mon, Feb. 22, 11:18 AM
    • Petrobras (PBR +10.8%) surges along with most other oil and gas companies, even with news that Brazilian federal police had carried out another series of searches and arrests related to the Operation Car Wash corruption investigation that began nearly two years ago.
    • Police say they searched offices of engineering conglomerate Odebrecht and the apartment of Joao Santana, the media strategist behind the presidential campaigns of Pres. Rousseff and former Pres. Lula da Silva, part of an investigation into whether possible kickbacks from PBR were used to pay Santana.
    • The sharp up move in PBR and other Brazilian stocks may partly reflect a positive reaction as the investigation moves ever closer to Rousseff, with the threat of impeachment still looming as Brazil’s recession deepens.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Mon, Feb. 22, 11:18 AM | 4 Comments
  • 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
BZQ Description
ProShares UltraShort MSCI Brazil Capped seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the MSCI Brazil 25/50 Index®.
See more details on sponsor's website
Country: Brazil
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