iShares MSCI Brazil Capped ETF (EWZ) - NYSEARCA
  • Dec. 22, 2015, 2:48 AM
    • The Brazilian real and stock index both fell yesterday after President Dilma Rousseff named Nelson Barbosa as finance minister, replacing conservative Joaquim Levy.
    • Despite a pledge from Barbosa to continue his predecessor's efforts, traders saw the appointment as a step back from the fiscal rigor pursued for most of the year following the loss of the country's investment grade credit rating.
    • The real weakened past 4.0 and exited active trading at 4.02, while the Ibovespa index ended the day down 1.6%.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 22, 2015, 2:48 AM | 9 Comments
  • Dec. 18, 2015, 4:21 PM
    | Dec. 18, 2015, 4:21 PM | 10 Comments
  • Dec. 18, 2015, 3:35 AM
    • Brazil's Supreme Court has cleared the way for impeachment proceedings to move forward against President Dilma Rousseff, but under conditions that may increase her chances of surviving an ouster from office.
    • Under the new ruling, a congressional special committee that formed earlier this month must be disbanded and re-formed under new guidelines that will likely produce a committee more favorable to the president.
    • Rousseff will be allowed to remain in office while the process plays out.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 18, 2015, 3:35 AM | 1 Comment
  • Dec. 17, 2015, 6:29 AM
    • A controversial congressional vote that stacked an impeachment committee with opponents of President Dilma Rousseff has been found to be legitimate by the country's Supreme Court justice which suspended proceedings against her last week.
    • As a result, the full court will vote on whether to open an impeachment trial this afternoon.
    • The move comes after Fitch downgraded Brazil's credit rating to BB+, becoming the second major credit rating agency to strip the country of its investment-grade status.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 17, 2015, 6:29 AM | 1 Comment
  • 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, 2:59 PM
    • Huh? On the surface, this would appear to be good news for the embattled president, but a quick process benefits her as pro-impeachment forces don't have nearly enough votes in Congress.
    • A delay, however, gives the opposition more time to round up support - and anti-government street demonstrations are planned for this weekend. It also boosts the impeachment process "legitimacy," says Citigroup.
    • Previously: Eurasia Group: Rousseff should survive impeachment (Dec. 9)
    • EWZ remains nicely higher on the session, up 2.3%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 9, 2015, 2:59 PM | 4 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
  • Dec. 8, 2015, 6:39 PM
    • The lower house of Brazil's Congress votes to appoint a committee stacked with opponents of Pres. Rousseff to report on whether to impeach her, a blow to her battle for political survival.
    • Choosing from two lists, lawmakers voted 272-199 to select one with more members of allied parties who are seen as being opposed to Rousseff.
    • Nevertheless, the 199 votes for the pro-government list could indicate that she could yet garner more than the one-third support needed to block an eventual impeachment vote before the full house.
    • The government also is asking the Supreme Court to block the impeachment process, arguing that it was started in a way that is unconstitutional.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 8, 2015, 6:39 PM | 1 Comment
  • Dec. 8, 2015, 4:55 AM
    • Impeachment proceedings against Brazil's President Dilma Rousseff were delayed on Monday, when House Speaker Eduardo Cunha said an agreement couldn't be reached on the creation of a committee to handle the first phase of investigations.
    • Rousseff is accused of illegally meddling with the government's books in 2014 and 2015 to disguise a growing budget gap.
    • Government loyalists, who are hoping for a quick resolution, criticized the delay as a maneuver that was in violation of deadlines set by the rules for an impeachment process.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 8, 2015, 4:55 AM | 4 Comments
  • Dec. 7, 2015, 12:02 PM
    • It's been a record number of corporate credit downgrades for Brazil this year, but 2016 could see a 10:1 ratio of cuts to upgrades next year, says Fitch, especially if the sovereign itself is downgraded.
    • The agency currently has a negative outlook on Brazil and on the grades of more than half of the Brazilian companies it rates. The current grade for Brazil is BBB-, the lowest investment-grade level. S&P has already downgraded the country to junk status.
    • The countries' companies have accounted for 11 of 15 bond defaults this year amid a bribery probe into Petrobras that threatens to engulf pretty much everything in the country. The latest victims include the billionaire founder of investment bank Grupo BTG Pactual, who now sits in a jail cell accused of obstruction of justice, and whose company has been cut to junk, and President Rousseff, who faces impeachment proceedings.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 7, 2015, 12:02 PM | 1 Comment
  • Dec. 2, 2015, 4:40 PM
    • Impeachment proceedings are opened against Brazil's Pres. Rousseff, as the speaker of Brazil's lower house says he is opening the process based on accusations that Rousseff's government broke fiscal responsibility laws.
    • The process could take months, involving several votes in Congress, and Rousseff could challenge any impeachment proceedings in the Supreme Court.
    • Accusations that top members of Rousseff's party accepted bribes, plus surging consumer prices and rising unemployment, have driven the president's approval rating to record lows; the majority of Brazilians polled support the opening of impeachment proceedings.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 2, 2015, 4:40 PM | 6 Comments
  • Dec. 1, 2015, 10:52 AM
    • The country's GDP contracted by a worse-than-expected 1.7% in Q3, and fell by a record 4.5% from a year ago.
    • Declines were across the board, with agriculture contacting 2.4%, industry down 1.3%, and services off 1%. Household consumption fell 1.5%, and gross fixed capital formation shrunk 4%. The trade balance contributed to growth, but only because of a 20% crash in imports.
    • The weak print has economists revising full-year predictions, with at least one seeing contraction of 3.5% vs. an earlier forecast of 2.5%.
    • The only hope for 2016, says Capital Economics, is that things just can't get any worse. Squint hard enough, says the team, and one can see signs the collapse in investment is starting to ease.
    • The Bovespa is lower by 0.1%. EWZ +1%
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Dec. 1, 2015, 10:52 AM | 17 Comments
  • Nov. 27, 2015, 1:13 PM
    | Nov. 27, 2015, 1:13 PM
  • Nov. 27, 2015, 5:12 AM
    • Brazilian President Dilma Rousseff's austerity program is in trouble again and she may face new calls for an impeachment after her point man in the Senate was arrested in a widening corruption scandal.
    • "The arrest felt like a nuclear bomb here in the presidential palace," said a Rousseff aide.
    • Delcidio do Amaral is the ruling Workers' Party's most senior figure in Congress, and is charged for allegedly trying to bribe Petrobras' (NYSE:PBR) former international director, Nestor Cervero.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Nov. 27, 2015, 5:12 AM | 10 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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