iShares MSCI Brazil Capped ETF
 (EWZ)

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  • Jun. 25, 2015, 3:57 PM
    • Brazil's financial markets were routed today after a news report that former President Luiz Inacio Lula da Silva could be arrested as part of the sweeping corruption scandal involving Petrobras (PBR -4.7%).
    • Investors were spooked by a report that a habeas corpus legal filing had been made on behalf of Lula to protect him from unlawful arrest in the corruption investigation; spokespersons later said the proceeding had not been filed by the ex-president or his representatives and that they had no prior knowledge of it.
    • Also, Brazil's non-seasonally adjusted jobless rate rose in May to 6.7%, the highest since 2010, from 6.4% in April, reinforcing worries that the country is on the verge of a recession.
    • Also: PBR.A -5%, VALE -3.6%, EBR -4.5%, ELP -2.5%, CIG -4.6%, CPL -2.6%, SBS -2%, BSBR -2.5%, BBD -1.1%, ITUB -2.7%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Jun. 25, 2015, 3:57 PM | 34 Comments
  • Jun. 19, 2015, 11:37 AM
    • Brazilian police today arrested Marcelo Odebrecht, head of Latin America's largest engineering and construction company - and Otavio Marques Azevedo, head of Brazil's second-largest construction firm, Andrade Gutierrez.
    • Lead prosecutor Carlos Fernando dos Santos Limas, has "no doubt" the two led a "cartel" which overcharged Petrobas (NYSE:PBR) for work, using the extra money to grease executives and politicians as necessary.
    • Calling the arrests the most significant to date, Eurasia's Christopher Garman and Joao Augusto de Castro Neves suggest a 40% chance the ballooning corruption probe could push the economy into a deeper-than-expected recession. The arrests, they say, means the investigation could be getting closer to former President Lula.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Jun. 19, 2015, 11:37 AM | 8 Comments
  • Jun. 5, 2015, 4:28 PM
    | Jun. 5, 2015, 4:28 PM
  • Jun. 4, 2015, 9:19 AM
    • As expected, the Copom last night hiked its benchmark Selic rate by 50 basis points to 13.75%, the highest since January 2009. The bank also signaled more rate hikes could be in the offing as it tries to pull inflation back to the 4.5% center of its target range by next year.
    • Over the past six months rates have been lifted by 275 basis points despite pressure from a number of sides that growth and the government debt load are larger worries. The Brazilian economy is forecast to contract 1.3% this year.
    • EWZ is lower by 9% YTD and 28% Y/Y.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Jun. 4, 2015, 9:19 AM
  • May 29, 2015, 4:17 PM
    | May 29, 2015, 4:17 PM | 3 Comments
  • May 22, 2015, 4:15 PM
     
    | May 22, 2015, 4:15 PM | 2 Comments
  • May 22, 2015, 12:34 PM
    • Brazil stocks are sharply lower after Eletrobras (EBR -4.5%), the country’s largest utility by revenue, was cut to junk by Moody’s.
    • While EBR showed “some financial improvement” in its Q1 earnings, its credit metrics remain too weak to remain at investment grade, Moody’s said, also citing an investigation on alleged bribes involving the former head of a subsidiary.
    • Meanwhile, Pres. Rousseff is trying to salvage her presidency as things go from bad to worse amid the Petrobras (PBR -3.8%) corruption scandal, with a new poll finding that 63% of Brazilians favor impeachment proceedings.
    • Brazilian opposition lawmakers are considering impeachment, either as an accessory to the corruption or for crimes of “irresponsibility” with finances.
    • Also: PBR.A -3.8%, EBR.B -6.6%, VALE -0.2%, ELP -1.2%, CIG -3.3%, CPL -2%, SBS -4.7%, BSBR -2.7%, BBD -2.6%, ITUB -2.3%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | May 22, 2015, 12:34 PM | 26 Comments
  • May 19, 2015, 5:21 PM
    • China confirms it is extending billions of dollars in loans and investment to Brazil, including $7B in financing for Petrobras (NYSE:PBR), as part of a major foray into Brazil's energy, infrastructure and mining industries.
    • The countries also finalized a deal to sell 22 Embraer (NYSE:ERJ) commercial jets to China’s Tianjin Airlines, while Vale (NYSE:VALE) announced extended cooperation with China on maritime transport of iron ore.
    • The news unveiled during Chinese premier Li Keqiang's official visit is a ~$50B boon for Brazil as it endures a fifth straight year of low growth.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | May 19, 2015, 5:21 PM | 17 Comments
  • May 8, 2015, 4:16 PM
    | May 8, 2015, 4:16 PM
  • May 4, 2015, 3:28 AM
    | May 4, 2015, 3:28 AM | 5 Comments
  • Apr. 30, 2015, 8:11 AM
    • Focused on inflation instead of the sputtering economy, Brazil's central bank boosts its benchmark interest rate by 50 basis points to 13.25%. WIth economic conditions continuing to worsen, the consensus is looking for one more rate hike at June's meeting and then a stop.
    • In the 12 months through mid-April, inflation is up 8.22% vs. the central bank's target range of 2.5-6.5%.
    • The Brazilian stock market may already be discounting the next easing cycle - it's up 18% since the end of January.
    • ETFs: EWZ, BRZU, BRXX, BRAQ, BZQ, BRAF, UBR, DBBR, FBZ
    | Apr. 30, 2015, 8:11 AM
  • Apr. 24, 2015, 4:14 PM
    | Apr. 24, 2015, 4:14 PM | 2 Comments
  • Apr. 24, 2015, 11:01 AM
    • Continuing details on numerous corruption scandals, sluggish economic growth, and credit downgrades are garnering most of the headlines out of Brazil, but the Bovespa's 2.1% gain today has that index higher by 21% since a late-January bottom.
    • 70% gain in Petrobas over the last month and 25% for Vale lead the way. The banks are also on the move, though less subdued: Banco Santander Brasil (NYSE:BSBR) and Itau Unibanco (NYSE:ITUB) are up 13% and 16%, respectively. Banco Bradesco (NYSE:BBD) - recently the subject of a Goldman downgrade - is off 6% over the last month and 19% YTD.
    • The iShares MSCI Brazil ETF (NYSEARCA:EWZ) has lagged - its top three holdings are Itau Unibanco, Ambev (NYSE:ABEV), and Banco Bradesco. The ETF is flat YTD, though higher by 15% over the last month.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Apr. 24, 2015, 11:01 AM | 9 Comments
  • Apr. 21, 2015, 12:47 PM
    | Apr. 21, 2015, 12:47 PM
  • Apr. 16, 2015, 3:54 AM
    • According to forecasts for the country’s 2016 budget proposal, Brazil’s economy will contract 0.9% in 2015 and grow 1.3% in 2016.
    • "Our goal is to get the economy to recover as soon as possible," Budget Minister Nelson Barbosa said. "We expect recovery to start as soon as in the second half of this year."
    • The government also forecast an inflation rate of 8.2% for 2015 and 5.6% for next year.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ, BZF
    | Apr. 16, 2015, 3:54 AM
  • Apr. 2, 2015, 4:24 PM
    | Apr. 2, 2015, 4:24 PM
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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