ProShares Ultra MSCI Brazil Capped ETF
 (UBR)

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  • 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, 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
  • 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
  • Nov. 18, 2015, 3:49 PM
    • Brazil stocks are mostly higher and the real is a top gainer among the world's currencies after the Congress upheld Pres. Rousseff’s vetoes of legislation that would have substantially increased spending at a time the government is trying to shore up its budget and prevent a credit rating downgrade.
    • By approving the vetoes, lawmakers granted Rousseff a rare political victory in a year when Congress has voted mostly against the administration.
    • "The votes were a positive sign for markets, although it is a bit early to say that the tide has changed for Brazilian assets," says a currency manager at TOV Corretora de Cambio in Sao Paulo.
    • PBR +3.9%, PBR.A +3.8%, VALE +3.3%, EBR +2.6%, ELP +3%, CIG +2.9%, CPL +4.7%, SBS +3.9%, BSBR +2.8%, BBD +3.4%, ITUB +2.6%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Nov. 18, 2015, 3:49 PM | 11 Comments
  • Nov. 16, 2015, 8:43 AM
    | Nov. 16, 2015, 8:43 AM | 4 Comments
  • Oct. 22, 2015, 3:58 AM
    • A fresh drive to impeach Brazilian President Dilma Rousseff is again undermining confidence in the country and bringing a decision about her political survival one step closer.
    • The new petition is seen carrying more weight than the two dozen attempts before it, as it's based on a federal audit stating her government doctored fiscal documents to hide the size of the country's massive deficit.
    • The Brazilian real has plunged 32% so far this year, while GDP is forecast to contract 3% in 2015.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Oct. 22, 2015, 3:58 AM
  • Oct. 15, 2015, 12:47 PM
    • Brazil’s sovereign credit rating is downgraded to BBB- from BBB by Fitch Ratings, leaving the country just one notch above junk status.
    • Fitch says the downgrade reflects Brazil's "rising government debt burden, increased challenges to fiscal consolidation and a worsening economic growth backdrop."
    • The rating agency leaves a negative outlook on its new rating, suggesting it eventually could become the second major rating agency to downgrade Brazil to junk; S&P cut the country's debt rating to junk last month.
    • Among top Brazil stocks traded in the U.S.: PBR -2.9%, VALE -0.6%, ERJ +0.5%, GGB -0.6%, BSBR -0.3%, BBD -2.2%, ITUB -2.9%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Oct. 15, 2015, 12:47 PM | 14 Comments
  • Oct. 8, 2015, 2:37 AM
    • Deepening the country's political and economic crisis, Brazil's Federal Accounts Court has ruled President Dilma Rousseff manipulated government budget figures in 2014, just a day after the nation's highest court permitted a lawsuit to annul last year's presidential election.
    • The move paves the way for a potential impeachment against the embattled leader, although any ouster would likely take months and has no guarantee of succeeding.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Oct. 8, 2015, 2:37 AM
  • Oct. 7, 2015, 10:11 AM
    • Commodity-related names are soaring as the prices for things pulled from the earth jump and Morgan Stanley says now's the time to buy the brutally beaten-down sector.
    • Brazil's Petrobas (PBR +9.9%) and Vale (VALE +9.6%) are partaking, as are the country's lenders like Banco Santander Brasil (BSBR +9%), Banco Bradesco (BBD +6.1%), and Itau Unibanco (ITUB +5.2%).
    • The iShares MSCI Brazil Index ETF (EWZ +4.1%)
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Oct. 7, 2015, 10:11 AM | 5 Comments
  • Oct. 6, 2015, 10:31 AM
    • As expected, the IMF trims its outlook for global GDP growth for both this year and next. The agency expects growth of 3.1% in 2015 and 3.6% next year, both twenty basis points lower than the previous forecast. Growth was 3.4% in 2014.
    • While growth in developing economies is expected to rise, it's slowing action in emerging markets - from 4.6% last year to 4% this year - leading the decline.
    • China GDP growth is still expected to slip to 6.8% this year and 6.3% next year from 7.3% in 2014. It's Brazil, however, which got the big revisions - negative 3% in 2015 (down 150 bps from previous) and negative 1% in 2016 (down 170 bps from previous).
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Oct. 6, 2015, 10:31 AM
UBR Description
ProShares Ultra MSCI Brazil Capped seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the MSCI Brazil 25/50 Index®.
See more details on sponsor's website
Country: Brazil
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