iShares MSCI Brazil Capped ETF (EWZ) - NYSEARCA
  • Tue, May 24, 3:20 PM
    • Brazil's sovereign wealth fund was founded eight years ago, and anyone paying attention then might have heard a loud bell ringing for the top of the commodity bubble.
    • Acting President Michel Temer says the government will withdraw about 2B reais ($560M), and use the money to help finance the budget deficit. The fund's largest holding - Banco de Brasil slumped more than 5% to a two-month low today following the announcement.
    • The fund was started with 19B reais, but the government has drained it in recent years, including a 12.4B reais withdrawal by now-suspended President Rousseff in 2012.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, May 24, 3:20 PM | 9 Comments
  • Fri, May 20, 2:55 PM
    • Petrobras (PBR +1.1%) is higher in today's trade as investors react favorably to the appointment of Pedro Parente to lead the company, but pull back from sharp early gains as the new boss still faces the same old problems.
    • Brazil's interim president Temer “gave a very clear orientation... There will be no political appointments in Petrobras,” Parente told reporters, which "greatly facilitated my decision" to accept the job offer.
    • Many blame the scandal surrounding PBR, in which former executives conspired with politicians and contractors to extract billions of dollars of bribes and kickbacks, on the former ruling coalition’s practice of placing political appointees in the company.
    • But Parente faces a $450B real ($126.3B) debt at the end of March that is estimated to be the largest of any oil company in the world.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Fri, May 20, 2:55 PM | 4 Comments
  • Wed, May 18, 10:22 AM
    • The NYSE suspends U.S. trading of Eletrobras (NYSE:EBR) and begins delisting procedures after the Brazilian power utility said it would miss today's deadline for submitting its 2014 financial results.
    • EBR says it plans to appeal the decision while continuing to work on finishing the delayed reports; the company already has delayed its SEC filing three times as it conducts internal investigations into corruption allegations.
    • A delisting may prompt investors to sell and Brazil’s government will end up buying the ADRs, says a senior director at Fitch Ratings; Brazil’s government has signaled that delisting would put pressure on its Treasury and is pressing EBR to complete its investigation.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAZ, UBR, DBBR, FBZ
    | Wed, May 18, 10:22 AM
  • Tue, May 17, 10:48 AM
    • New finance minister Henrique Meirelles nominated Itau Unibanco chief economist Ilan Goldfajn to replace Alexandre Tombini atop the country's central bank.
    • Alongside the nomination - which must be confirmed by the Senate - Meirelles is proposing a constitutional amendment to grant the central bank greater independence from the government.
    • Under Tombini (who took over in 2011), the bank has boosted interest rates to a nine-year high to help fight perky inflation. It's unclear who will be in charge at the next policy meeting set for June 7-8.
    • The Bovespa is lower by 1.1%. EWZ -1%
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, May 17, 10:48 AM
  • 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
  • Thu, May 12, 12:07 PM
    • Expecting reforms under Michel Temer, who will be taking over for President Rousseff while she is put on trial, Morgan Stanley sees "clarity about the policy path over the next few quarters," and thus lower inflation, lower interest rates, and higher stock prices.
    • The team predicts economic contraction of 3.8% this year - steep, but not as bad as its previous -4.3% estimate. Growth should return in 2017 and get even stronger as a stronger currency and lower inflation expectations allow the central bank to cut rates.
    • "Brazil is one of our strongest conviction calls. In equities," and their favorite pick is CPFL Energia (NYSE:CPL).
    • The Bovespa has turned marginally higher on the session, and EWZ is down 1%.
    • Previously: Senate majority backs Rousseff impeachment (May 12)
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Thu, May 12, 12:07 PM | 5 Comments
  • Thu, May 12, 4:57 AM
    • In floor speeches ahead of the vote, forty-two senators indicated their intention to vote against President Rousseff, giving the opposition the simple majority it needs in the 81-seat chamber.
    • The vote would mean the suspension of Rousseff from the presidency while her Senate trial takes place. Vice-President Michel Temer will assume the office, and is expected to begin naming his cabinet today. Former central bank chief Henrique Meirelles - a favorite of investors - is expected to be named finance minister.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Thu, May 12, 4:57 AM | 10 Comments
  • Wed, May 11, 6:16 AM
    • Brazil's Senate is set to vote on whether to put President Dilma Rousseff on trial for breaking budget rules, amid expectations she will become the country's first leader in more than two decades to be removed from office.
    • If her opponents garner a simple majority of the 81 senators, Rousseff will be suspended for up to six months during the trial and Vice President Michel Temer will take power.
    • A final vote is expected to take place around 7 p.m. ET.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Wed, May 11, 6:16 AM
  • Tue, May 10, 12:45 PM
    • The Bovespa is higher by 2%, and the iShares MSCI Brazil ETF (NYSEARCA:EWZ) is ahead 3% after lower house of Congress speaker Waldir Maranhão in the middle-of-the-night reversed his call to annul that body's impeachment vote of the president.
    • It's unclear if Maranhão could have actually stopped the impeachment process, but nevertheless his about-face raises the possibility of Rousseff's removal from office this week to very high.
    • A vote to put Rousseff on trial (which would result in her suspension) is set to begin tomorrow (it's expected to run into the following day as nearly all members will take the opportunity to speak before casting a vote).
    • 'Do you know what the world is now thinking of us Brazilians?' tweeted former chief justice of Brazil Joaquim Barbosa last night. “Many must be seeing us as a laughingstock.”
    | Tue, May 10, 12:45 PM | 2 Comments
  • Tue, May 10, 7:07 AM
    • The acting head of the country's lower house of government yesterday called to annul that body's impeachment of President Rousseff, but, in a middle-of-the-night statement, rescinded that demand.
    • That puts things back on track for the full Senate to vote on whether Rousseff should stand trial. A "yes" vote - which is expected - would force the immediate suspension of Rousseff as president.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, May 10, 7:07 AM | 3 Comments
  • Mon, May 9, 4:22 PM
    • Brazilian markets were jolted today when the acting speaker of the country's lower house said he annulled that body's vote to impeach President Rousseff. The Bovespa tumbled more than 3% at one point, before closing down 1.3%.
    • Bloomberg is now reporting Renan Calheiros - the head of the Senate - as saying his house will move forward with impeachment proceedings.
    • A special Senate committee has already recommended Rousseff be put on trial, and a vote by the full Senate could come later this week.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Mon, May 9, 4:22 PM | 4 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
  • Sat, May 7, 5:06 PM
    • Barron's "ETF Roundtable" features David Cleary of Lazard, Fritz Folts of 3EDGE Asset Management, John Forlines III of JAForlines Global, and Will McGough from Stadion Money Management.
    • ETFs they like include:
    • Gold: iShares Gold Trust (NYSEARCA:IAU) "has a lower expense ratio (0.25%) than (NYSEARCA:GLD)," VanEck Vectors Gold Miners (NYSEARCA:GDX), and GLD.
    • iShares Global Materials (NYSEARCA:MXI).
    • Emerging markets: iShares Core MSCI Emerging Markets (NYSEARCA:IEMG), SPDR MSCI Emerging Markets Quality Mix (NYSEARCA:QEMM),  iShares MSCI Brazil Capped (NYSEARCA:EWZ), EGShares India Infrastructure (NYSEARCA:INXX) "We like India in general as a long-term option," iShares Latin America 40 (NYSEARCA:ILF) "We're starting to see governance improvements in Latin America broadly,"  iShares J.P. Morgan USD Emerging Markets Bond (NYSEARCA:EMB).
    • Emerging-market proxies: iShares MSCI Canada (NYSEARCA:EWC) and iShares MSCI Australia (NYSEARCA:EWA).
    • iShares Core High Dividend ETF (NYSEARCA:HDV). iShares MSCI USA Minimum Volatility (NYSEARCA:USMV) "Now there's more uncertainty, and that's when these low-vol strategies do best."
    • iShares North American Tech (NYSEARCA:IGM) and iShares U.S. Consumer Services (NYSEARCA:IYC), "We still like consumer services and technology."
    • PowerShares QQQ (NASDAQ:QQQ), Vanguard Small Cap Value (NYSEARCA:VBR), "Blending the two doesn't tilt the portfolio too much in one direction or the other, because the combination blends small and large, growth and value."
    • SPDR Barclays High Yield Bond ETF (NYSEARCA:JNK), PowerShares Fundamental High Yield Corporate Bond Portfolio (NYSEARCA:PHB).
    • VanEck Vectors Fallen Angel High Yield Bond (NYSEARCA:ANGL), "These are viable companies, and although they've moved from investment- grade to high-yield, they're likely survivors."
    • "We like preferreds, via the iShares U.S. Preferred Stock (NYSEARCA:PFF)." Also: iShares International High Yield Bond ETF (BATS:HYXU).
    • iShares MSCI Europe Small-Cap (NASDAQ:IEUS).
    | Sat, May 7, 5:06 PM | 15 Comments
  • Fri, May 6, 4:26 PM
    | Fri, May 6, 4:26 PM | 1 Comment
  • Fri, May 6, 1:16 PM
    • A special impeachment committee votes 15-5 to put President Dlima Rousseff on trial, moving the matter the full 81-member Senate. If a simple majority agrees (the vote will be May 11-12), Rousseff would have to step aside nearly immediately for the duration of her trial (a maximum of 180 days).
    • As roughly 50 Senators are already on record as saying they'll vote "yes," it appears Vice President Michel Temer could assume power on May 13.
    • The Bovsepa is lower by 0.2%. EWZ +0.55%
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Fri, May 6, 1:16 PM | 3 Comments
  • Tue, May 3, 4:32 AM
    • Brazil's embattled Dilma Rousseff may back calls for a fresh presidential election, which would allow a vote for a new leader this year, if she sees little chance of surviving a key impeachment vote in the Senate next week.
    • But many say it's unlikely that supporters of the measure could get the three-fifths majority required in both chambers of Congress to change the constitution, which currently states presidential elections can only be held every four years.
    • ETFs: EWZ, BRF, BRZU, EWZS, BZQ, BRAQ, BRAZ, UBR, DBBR, FBZ
    | Tue, May 3, 4:32 AM | 2 Comments
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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