BZF: WisdomTree Brazilian Real ETF Market Currents Page 3

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Monday, February 27, 2012, 7:45 AM Brazil's central bank president Tombini reiterates his commitment to continue cutting rates despite a survey showing current real rates are inconsistent with keeping inflation below the bank's 4.5% mandate. Tombini also says the bank will continue buying dollars to combat the real's rise, +9.2% YTD. Comment! [Global & FX]
Friday, February 10, 2012, 3:10 PM Brazil's consumer prices rise 0.56% in January, the fastest pace in 9 months. The annualized rate slowed to 6.22%. "The economic slowdown didn't affect inflation ... there's strong inertia," says economist Solange Srour. Still, traders are maintaining bets of a 50 basis point cut in rates at the central bank's March meeting. EWZ -2.6%. 1 Comment [Global & FX]
Wednesday, February 1, 2012, 10:59 AM Brazil January PMI rises to 50.6 from 49.1 in December, the first read above 50 since May. While the worst of the slowdown may be in the rear view mirror, HSBC economist Andre Loes cautions the number is only consistent with a sideways-moving economy. EWZ +2.2%. 1 Comment [Global & FX]
Tuesday, January 31, 2012, 7:45 AM Brazil's December industrial production rises 0.9% against estimates for a 1% gain, still the largest jump since May and giving rise to hopes the country can reverse Q3's shrinkage in GDP. Comment! [Global & FX]
Tuesday, January 3, 2012, 3:52 PM Brazil's 2011 trade surplus soars to nearly $30B, 25.7% more than 2010 and the highest level since 2007. China - with a voracious appetite for the raw materials Brazil is chock full of - was the main destination for the country's goods, followed by the U.S. The government expects a smaller surplus in 2012 as China slows and "currency wars" hurt the real's competitiveness. Comment! [Global & FX]
Tuesday, January 3, 2012, 12:05 PM Brazil's December PMI rises to 49.1 from the previous month's 48.7. It's the 3rd consecutive monthly increase, and the strongest print in 7 months, "suggest(ing) the worst of the current economic downturn may indeed be behind us." says HSBC chief Brazil economist Andre Loes. EWZ +3.9%. Comment! [Global & FX]
Friday, December 30, 2011, 7:42 AM Brazil's surging economy of the past few years owes a least a bit to its citizen's appetite for debt (and bank willingness to issue it), making bill collecting the latest boom industry there. The volume of credit has doubled to 50% of GDP in less than a decade, with 5.6% of the $1.1T total more than 90 days past due. Some Brazilian banks YTD: BBD -19%, BSBR -41%, ITUB -24%. 1 Comment [Global & FX]
Friday, December 23, 2011, 8:31 AM Brazil dips its toe into the QE business, de facto requiring large lenders use part of their reserves deposited with the central bank to purchase loan portfolios from smaller institutions. If the big banks don't participate, they won't receive interest on a portion of their deposits with the central bank, no small inducement when the rate is 11%. Comment! [Global & FX, Financials]
Thursday, December 22, 2011, 7:12 AM Brazil November unemployment falls to 5.2% vs. expectations for 5.7%. Interest rate futures fall a bit, reflecting somewhat less of a chance of further rate cuts by the central bank. Comment! [Global & FX]
Wednesday, December 21, 2011, 7:47 AM Brazilian inflation (measured from mid-month November to mid-month December) rises to 0.56% from 0.46 previously, inline with expectations. The Y/Y rate slows a hair to 6.56% above the target of 4.5% plus/minus 200 bps, but close enough for the central bank not to have to abandon its rate-cutting cycle. Comment! [Global & FX]
Tuesday, December 20, 2011, 12:17 PM The watch is on the see if Brazilian inflation - 6.64% through November - can nose under 6.5% for the year, within the central bank's goal of 4.5%, plus or minus 2 points. Like the the BoE's Mervyn King, Alexandre Tombini of Brazil's central bank will have to write an explanatory letter if it misses. Comment! [Global & FX]
Tuesday, December 20, 2011, 10:10 AM As the Mercosur summit opens in Montevideo, higher tariffs on a slew of products look to be on the way as South America contends with a flood of cheap Asian imports. Argentina and Brazil have already agreed to a considerable boost in the average 14% rate, with just some back-room haggling left to bring other countries on board. Comment! [Global & FX]
Tuesday, December 13, 2011, 12:07 PM Fitch cuts its 2012 GDP forecast for Brazil to 2.8% from 3.5%, noting the recent weakness in the country's economic data and the potential of a hard landing in China causing softness in the commodity sector. The agency says Brazil's BBB rating remains "well supported by strong international reserves." Comment! [Global & FX]
Monday, December 12, 2011, 8:02 AM Brazil's deputy finance minister says the government is finished with heavy lifting from the fiscal side, leaving it to monetary policy to help boost growth there for the next year. Markets have priced in an additional 125 bps in rate cuts over the coming year as the economy is expected to show 3% growth for 2011 vs. 7.5% in 2010. 1 Comment [Global & FX]
Thursday, December 8, 2011, 8:14 AM Brazil November inflation rises 0.52% from 0.43% previously, roughly inline with expectations. The annualized rate is 6.64%. The country has heavy exposure to China's now-slowing appetite for commodities and was one of the first around the world to cut rates this year. Today's news shouldn't halt that course. Comment! [Global & FX]
Tuesday, December 6, 2011, 8:19 AM Brazil's once-booming economy flatlines in Q3 and rises just 2.1% Y/Y vs. expectations of 2.7%. Europe is no doubt having effect, but don't forget China, the major consumer for the raw materials Brazil is chock full of. Economists slash their full year estimates for 2011 and 2012 to 3.09% and 3.48% respectively. 2010 growth was 7.5%. Comment! [Global & FX]

BZF WisdomTree Brazilian Real ETF

BZF

WisdomTree Brazilian Real ETF