iShares MSCI Brazil Capped ETF
 (EWZ)

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  • Apr. 11, 2014, 4:22 PM
    | Apr. 11, 2014, 4:22 PM | 1 Comment
  • Apr. 7, 2014, 3:27 PM
    | Apr. 7, 2014, 3:27 PM
  • Apr. 4, 2014, 4:17 PM
    | Apr. 4, 2014, 4:17 PM
  • Apr. 4, 2014, 12:50 PM
    • With the Nasdaq and Russell 2000 each off 2% and the S&P 500 down 0.6%, what's working today? Emerging markets (EEM +0.7%), particularly Latin America (ILF +2.2%), particularly Brazil, where the weight of a year-long rate hike cycle looks to be coming to a close just as monetary tightening gets underway in the States.
    • Up 2.6% today, the iShares MSCI Brazil Index (EWZ) is ahead more than 20% since the start of February.
    • Brazil's banks: Banco Bradesco (BBD +2.8%), Banco Santander Brasil (BSBR +2.9%), Itau Unibanco (ITUB +2%).
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    • LatAm ETFs: AND, ILF, LBJ, GML, LATM, EEML, FLN
    | Apr. 4, 2014, 12:50 PM | 8 Comments
  • Apr. 2, 2014, 10:32 PM
    • Brazil's central bank - as expected - boosts the benchmark Selic rate by 25 basis points to 11%, but hints an end to the rate hike cycle is nearing. "There will probably be another increase at the next meeting, if there's no surprise, but the continuity of the cycle beyond that is unlikely," say economists at Banco Fator.
    • The central bank began its rate hike cycle about one year ago amid persistently high inflation, and with the Selic then at 7.25%. Unsurprisingly amid the tighter policy, the Brazilian stock market has been one of the poorer performers among major markets during this time.  Perhaps anticipating the end of rate boosts, the Bovespa logged sharp gains over the past few weeks. The iShares MSCI Brazil Index ETF (EWZ) is up more than 20% since early February.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    | Apr. 2, 2014, 10:32 PM
  • Mar. 28, 2014, 4:23 PM
    | Mar. 28, 2014, 4:23 PM | 1 Comment
  • Mar. 27, 2014, 2:44 PM
    • A sharp boost in the central bank's inflation forecast - suggesting the rate hike cycle will continue - isn't enough to halt the big rally in Brazilian stocks, with the Bovespa's 3.2% gain today putting the index higher by nearly 15% over the last two weeks.
    • The central bank now sees inflation of 6.1% this year, 50 basis points higher than its previous estimate. The 2015 inflation forecast is lifted to 5.5% from 5.4%. Both guesses are well above the 4.5% inflation target. The benchmark Selic rate has been raised 350 bps since April to 10.75%, and watchers are calling for another 25-50 bps next week and maybe another boost in May.
    • EWZ +4.4%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    | Mar. 27, 2014, 2:44 PM
  • Mar. 27, 2014, 2:39 PM
    | Mar. 27, 2014, 2:39 PM
  • Mar. 24, 2014, 6:23 PM
    • Standard & Poor's cuts Brazil's sovereign debt rating to BBB-, the agency's lowest investment-grade rating, citing a combination of fiscal slippage, the prospect that fiscal execution will remain weak amid subdued growth in the coming years, a constrained ability to adjust policy ahead of the October presidential elections, and some weakening in Brazil's external accounts.
    • S&P changes its outlook to stable from negative, meaning further downgrades are unlikely for now.
    • The downgrade was expected, but the timing prior to the October election, in which Pres. Rousseff will seek re-election, may pose a headache for her government.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    | Mar. 24, 2014, 6:23 PM
  • Mar. 21, 2014, 4:15 PM
    | Mar. 21, 2014, 4:15 PM | 1 Comment
  • Mar. 10, 2014, 10:45 AM
    • The 8.3% dive in the price of iron ore to $104.70 per ton is the 2nd largest one-day decline on record, and came following weekend data showing an 18.1% Y/Y slump in Chinese exports in February (a gain of 7.5% was expected). While miners like BHP and RIO remain optimistic about supply/demand dynamics (though dour on price prospects), Goldman - picking one analyst team - sees the market moving into surplus in H2 and prices falling below $100 per ton.
    • The Shanghai Composite fell 2.9% overnight and Brazil's Bovespa is down 2% in the early-going. Australia (EWAdeclined 0.9% and the aussie (FXA) is off 0.6% to $0.9017.
    • The steelmaking ingredient is off 22% YTD and at its lowest price since October 2012.
    • In the meantime, the rumors are flying, including speculation a mill in China's Shanxi province defaulted on Friday and shut five to six furnaces. There's also chatter about banks looking to call in 20% of loans to private steel companies.
    • EWZ -2.1%, VALE -2.8%.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    • Base metal mining ETFs: XME, JUNR, PICK
    | Mar. 10, 2014, 10:45 AM | 1 Comment
  • Mar. 7, 2014, 4:35 PM
    | Mar. 7, 2014, 4:35 PM | 2 Comments
  • Feb. 26, 2014, 7:08 PM
    • Brazil's central bank has upped its benchmark interest rate by another 25 bps to 10.75%.
    • 325 bps worth of rate hikes were carried out in 2013 in an effort to keep a lid on inflation. Brazil's 2013 inflation rate was 5.9%, handily exceeding a 4.5% target.
    • Better-than-expected January unemployment data raised expectations another rate hike would happen.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BZQ, BRAZ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    | Feb. 26, 2014, 7:08 PM | 2 Comments
  • Feb. 20, 2014, 8:34 AM
    • The unadjusted jobless rate in January rose to 4.8% from 4.3% in December, but was below forecasts for 5.1%. The seasonally adjusted rate was flat month-over-month.
    • The good economic news might be bad news for those hoping for an end to the rate hike cycle. "It's a tough message for the central bank," says economist Carlos Kawall. While the economy doesn’t seem to be going onto a very strong path, unemployment is still very low, and wages are still moving up. So it creates a real dilemma for the bank.”
    • Inflation accelerated to 5.91% in 2013 vs. the 4.5% target, and policymakers responded by hiking the benchmark Selic 325 basis points to 10.5%.
    • EWZ -0.7% premarket
    • Related ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BZQ, BRAZ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    | Feb. 20, 2014, 8:34 AM
  • Feb. 7, 2014, 4:42 PM
    | Feb. 7, 2014, 4:42 PM | 1 Comment
  • Feb. 3, 2014, 8:30 AM
    • The PMI edges higher to 50.8 in January from 50.5 previously, but New Orders jumped to an 11-month high of 52.4 (and from 50.7 previously). Output rose, but pace was the slowest since September.
    • Despite gains in orders and production, employment contracted for the 10th consecutive month.
    • Prices rose at their fastest pace in three months amid the real's depreciation - falling 2.5% in just January.
    • EWZ -12% YTD, but up 0.9% premarket
    • Related ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, FBZ, DBBR
    | Feb. 3, 2014, 8:30 AM
EWZ Description
The iShares MSCI Brazil Capped Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Brazil 25/50 Index (the “Underlying Index”).
See more details on sponsor's website
Country: Brazil
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