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Global X Brazil Consumer ETF (BRAQ)

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  • Nov. 14, 2014, 10:23 AM
    • "It will be difficult to maintain the investment-grade rating even under best case scenario,” says Siobhan Morden, head of Latin America strategy at Jefferies.
    • Crucial at the moment is who will be appointed finance minister, says Morden, as the selection will tell us whether newly-elected President Rousseff is committed to fiscal restraint.
    • As for the stock market and the real (both currently under pressure), they may have already discounted the negative headline risk on cabinet appointments, says Morden.
    • The Bovespa is lower by 1%. EWZ -2.25%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • Oct. 30, 2014, 9:28 AM
    • The central bank had been expected to leave policy unchanged, but instead last night hiked the benchmark Selic rate by 25 bps to 11.25%. The move comes following the re-election of Dilma Rousseff, which rattled Brazilian markets.
    • "Very well done," says Goldman's Alberto Ramos. "This definitely is a great step forward to rebuild the credibility of the inflation-targeting regime ... This is market friendly."
    • The Bovespa is higher by 2% in the early going. EWZ +3.2% premarket
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 3 Comments
  • Oct. 28, 2014, 2:24 PM
    • "I think we'd be crazy not to," says Jim Chanos, still short Brazil, but taking some profits after a near 20% dive in the Bovespa over the last couple of months which may or may not have had its denouement in yesterday's post-election plunge.
    • Among the individual names Chanos had in the past talked about being short were Petrobas (PBR +4.3%) and Vale (VALE +0.6%), from which the Bovespa is heavily weighted. The two combine to represent about 8% of the assets in the iShares MSCI Brazil Capped ETF (EWZ +5.6%).
    • "I think a lot of [Rousseff's reelection] is priced in already now," says Chanos.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Oct. 27, 2014, 10:31 AM
    • It's an ugly open for Petrobras (PBR -14.2%) following Pres. Rousseff's re-election as Brazil's president, as hopes are dashed for a regime change that might have helped investor confidence in the country and the company.
    • Rousseff's victory "was not totally priced in yet," Loomis Sayles analyst Bianca Taylor says, adding that she expects a slump in Brazil assets as a whole in the next few days.
    • PBR and state-controlled utility Centrais Eletricas Brasileiras (EBR -12.3%) were the two worst performing stocks in the 834-member MSCI Emerging Markets Index this morning.
    • Also: VALE -5.9%, ITUB -6.5%, BBD -8.1%, GOL -7.6%.
    • Brazil ETFs: EWZ -6.7%, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 6 Comments
  • Oct. 27, 2014, 7:12 AM
    | Comment!
  • Oct. 26, 2014, 8:41 PM
    • Incumbent Dilma Rousseff is re-elected to a second term as Brazil's president, winning about 51% of the votes, according to the official count. It could be bad news for Brazilian stocks, or just maybe her victory was already priced in.
    • The Bovespa had been about 2014's strongest major global market through roughly August as polls showed support evaporating for Rousseff, but the index has slumped more than 15% over the past two months as a victory by her more conservative challenger Aecio Neves looked less and less likely.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • Among individual stocks: Petrobas (NYSE:PBR), Vale (NYSE:VALE), Itau Unibanco (NYSE:ITUB), Banco Bradesco (NYSE:BBD), Gol Linhas (NYSE:GOL).
    • Broad Latin American ETFs: ILF, LBJ, GML, EEML, FLN
    | 8 Comments
  • Oct. 24, 2014, 11:11 AM
    • An outlier of a poll shows opposition candidate Aecio Neves with a sizable (though shrinking) lead over President Dilma Rousseff. Other polls have consistently shown Rousseff with a lead of six to eight percentage points. Still to come is big debate between the two contenders tonight. The election is on Sunday.
    • The credibility of opinion polling is somewhat suspect in Brazil, with different surveys showing wildly different results, not to mention all the major pollsters failing to capture the extent of Neves' support ahead of the first round of elections earlier this month.
    • The Bovespa is up 3.6%. EWZ +5.3%
    • Petrobas (PBR +6.3%), Vale (VALE +4.4%), Itau Unibanco (ITUB +6.1%), Banco Bradesco (BBD +5.5%), Gol Linhas (GOL +6.6%)
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • The iShares S&P Latin America 40 (ILF +3%)
    • Broad South American ETFs: ILF, LBJ, GML, EEML, FLN
    | 3 Comments
  • Oct. 16, 2014, 3:26 PM
    • The latest poll from overnight continues to show the challenger (and market favorite) Aecio Neves ahead by two points, but Rousseff's approval ratings improved and Neves' rejection numbers increased, notes Eurasia Group, "suggesting that while voter intentions remained constant the president’s campaign is gaining some momentum."
    • The data reinforces the agency's feeling that Rousseff has a 60% probability of winning re-election on October 26.
    • The Bovespa is lower by 2.8%. EWZ -3.4%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • Oct. 13, 2014, 11:30 AM
    • Presidential challenger Aecio Neves over the weekend received the endorsement of Marina Silva - the 3rd-place finisher in the first election round - and the latest poll shows Neves outgunning incumbent Dilma Rousseff by 52.4% to 36.7%.
    • The runoff election is set for October 26.
    • The Bovespa is soaring, up 4.4%, led by Petrobas (PBR +9%), Vale (VALE +5.2%), GOL Linhas Aereas (GOL +6.4%), Banco Bradesco (BBD +8.8%), and Itau Unibanco (ITUB +8.7%).
    • The iShares MSCI Brazil Index (EWZ +5.1%).
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • The iShares S&P Latin America 40 Index (ILF +3.7%).
    • Broad South American ETFs: ILF, LBJ, GML, EEML, FLN
    | 7 Comments
  • Oct. 6, 2014, 7:03 AM
    • The iShares MSCI Brazil Index ETF (NYSEARCA:EWZ) is ahead by 6.7% premarket after President Dilma Rousseff pulls in just 42% of the vote in Brazil's 3-way election, and her more-conservative challenger Aecio Neves gets 34%, well ahead of the 26% support he saw in the most recent pre-election poll.
    • Finishing in 3rd place is Marina Silva with 21% of the votes.
    • Brazilian stocks have been rallying all year on hope Rousseff was set to be tossed, but lately have given back some gains on worry she might in fact win another term.
    • The runoff election will be on October 26.
    • Petrobas (NYSE:PBR+14.5%, Vale (NYSE:VALE+3.5%, Itau Unibanco (NYSE:ITUB+1.6%, Banco Bradesco (NYSE:BBD+3.9% premarket
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 17 Comments
  • Oct. 6, 2014, 3:33 AM
    • Brazil’s presidential race is headed to another round after leftist President Dilma Rousseff won the most votes on Sunday but failed to clinch the majority she needed to win a second term outright.
    • Rousseff will face the more conservative Aecio Neves in a runoff on Oct. 26.
    • Marina Silva, the prominent environmentalist who recently led opinion polls but saw her support collapse late in the campaign, won only 21% of the vote, compared to Rousseff's 42% and Neves' 34%.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Oct. 1, 2014, 10:41 AM
    • Brazil's manufacturing PMI slipped to 49.3 in September from August 50.2. New orders fell for the fifth time in six months, with the rate of contraction the fastest since May, and input and output prices fell simultaneously for the first time since August 2009.
    • It's the fifth time the PMI has slipped into contraction territory in 2014.
    • The Bovespa is lower by 1.2%. EWZ -1.5%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Sep. 29, 2014, 9:43 AM
    | 9 Comments
  • Sep. 22, 2014, 3:40 PM
    • "The bet is simple," says Fortress Investment's Gareth Henry, speaking at a conference in San Francisco. "Between now and the election, the probability of [incumbent Dilma Rousseff] winning is going to go a lot lower than it is today."
    • "I actually think she loses the election," says Henry, and there will be a major rally in Brazilian assets following.
    • Henry's comments echo those of Fortress Principal Mike Novogratz a few months back.
    • Previously: Fortess' Novogratz pitches Brazil at Ira Sohn
    • The Fortress Macro Fund is lower by 5.78%, net of fees, through the end of August.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | 6 Comments
  • Sep. 22, 2014, 11:22 AM
    • Iron ore slumped to a new five-year low overnight as China's finance minster said not to expect anything major from Beijing to counter a recent string of weak economic data.
    • “The Chinese government is signaling it won’t be very aggressive in stimulating growth, and that’s scaring investors,” says a hedge funder in Rio, though it'll be upcoming elections as the main driver for the Bovespa.
    • The ASX (NYSEARCA:EWA) fell 1.3% in Sydney, and the aussie (NYSEARCA:FXA) is off 0.7% to $0.8865. Brazil's Bovespa is lower by 2.2%, led by Vale (VALE -4.2%).
    • Brazilian banks: Banco Bradesco (BBD -1.8%), Banco Santander Brasil (BSBR -0.6%), Itau Unibanco (ITUB -2.3%).
    • The iShares MSCI Brazil Index ETF (EWZ -2.7%)
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • Sep. 19, 2014, 12:03 PM
    • The latest Datafoha poll shows challenger Marina Silva with just a two percentage point lead over incumbent Dilma Rousseff should the two meet in a runoff election.
    • To review, the general election - with three main candidates - is October 5. If no one candidate gets 50% of the vote, the top two would face off in a 2nd round on October 26.
    • A current first-round poll show Rousseff getting 37% of the vote, Silva 30%, and 17% for Aecio Neves.
    • The Bovespa is lower by 1.1%. EWZ -1.4%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | 1 Comment
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BRAQ Description
The Global X Brazil Consumer ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Brazil Consumer Index.
See more details on sponsor's website
Country: Brazil
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