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WisdomTree Brazilian Real ETF (BZF)

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  • Thu, Apr. 16, 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
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  • Fri, Mar. 6, 7:28 PM
    | 4 Comments
  • Thu, Feb. 19, 2:02 PM
    • Oi SA (NYSE:OIBR) is off 7.4% and has been as low as -9.7% in the past hour, leading a pack of related Brazilian stocks in declines (also trading lower: PT, -2.3%; VIV, -0.7%; TSU, -0.2%).
    • Telecom Italia (NYSE:TI) -- trying to merge its TIM with Oi -- is off 1.6%.
    • The Brazilian real's slipped 1.1% against the dollar, which is showing strength against several global pairs, including the Swiss franc, the Loonie and the euro.
    • ETFs: EWZ -1%. Other related funds: BRF, BRXX, EWZS, BZF, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | 2 Comments
  • Sep. 9, 2014, 10:37 AM
    • The outlook for Brazil's Baa2 government bond rating is cut to Negative from Stable at Moody's, which notes sustained low growth and worsening debt metrics as suggesting the need for a credit downgrade.
    • Alongside those two factors, says Moody's, is "a marked deterioration in investor sentiment which has negatively impacted fixed capital formation."
    • The Bovespa is lower by 0.25% in early action.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ, BZF
    | Comment!
  • Jul. 18, 2014, 8:49 AM
    • Petrobras (NYSE:PBR+4.8% premarket as the first poll released after the humiliation of Brazil's World Cup team shows Pres. Rousseff continuing to lose ground with potential voters and raising the odds that she will face a runoff in October's presidential election.
    • A new survey published by a Sao Paulo newspaper shows Rousseff reducing her advantage over main contender Aecio Neves, and nearly in a dead heat in a potential runoff scenario.
    • Brazil's lackluster economy has voted concerned about losing their jobs, even though the unemployment rate remains close to historic lows.
    • Yesterday, PBR reported that it is in talks to sell its 40% stake in natural gas distributor Gasmig to Companhia Energetica Minas Gerais.
    • ETFs: EWZ, BZF
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  • Apr. 8, 2014, 7:57 AM
    • Alongside rallying emerging market equities is a comeback for their currencies as investors grow comfortable with the taper. Also at work is tighter monetary policy in the emerging markets - Turkey, South Africa, and Russia have all boosted rates this year, and Brazil is nearing the end of a year-long rate hike cycle.
    • "The appeal of the carry trade has returned. Emergency measures by emerging market central banks have rendered yields much higher, and hence emerging market currencies are much more attractive to hold," says SocGen's Phoenix Kalen.
    • ETFs: CYB, CNY, BZF, CEW, ICN, INR, FXCH, INCO, AYT, PGD, JEM
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  • Feb. 3, 2014, 8:43 AM
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  • Feb. 3, 2014, 8:30 AM
    • The PMI edges higher to 50.8 in January from 50.5 previously, but New Orders jumped to an 11-month high of 52.4 (and from 50.7 previously). Output rose, but pace was the slowest since September.
    • Despite gains in orders and production, employment contracted for the 10th consecutive month.
    • Prices rose at their fastest pace in three months amid the real's depreciation - falling 2.5% in just January.
    • EWZ -12% YTD, but up 0.9% premarket
    • Related ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, FBZ, DBBR
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  • Jan. 30, 2014, 1:17 PM
    | 1 Comment
  • Jan. 9, 2014, 3:51 PM
    • After a rough three year stretch, Brazilian stocks continue to have a tough time of it early in 2014, with the Bovespa off another 2.5% today and the EWZ is down 6% YTD. The real keeps sliding as well - down 10% vs. the dollar over the last 3 months.
    • Of imminent concern is slowing growth and a ballooning budget deficit forcing a ratings downgrade - with analysts at both S&P and Moody's suggesting this week one could come later this year. “We don’t have fixed limits…but if debt-to-GDP ratio gets closer to 65%,” Brazil could be ripe for a credit-rating cut, says Moody's Mauro Leos (it's above 60% now). S&P meanwhile suggests the cut in the country's BBB rating could come ahead of the October presidential election.
    • Related ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRAF, BRZU, UBR, FBZ, BRZS, DBBR
    | 1 Comment
  • Jan. 7, 2014, 4:13 AM
    • In Sept., Moody's changed Brazil's credit outlook to stable from positive, as persistent low growth interrupted improvement in several economic and fiscal indicators. One important ratio showing deterioration is Brazil's debt-to-GDP measure, which has been climbing towards the 60% mark and Moody's estimates it could reach 62% in 2014.
    • The path debt-to-GDP takes will strongly influence Brazil's sovereign credit outlook. An important question to sovereign credit quality is whether authorities can restore conditions that will eventually lead to a declining trend in the debt ratio.
    • Brazil has limited fiscal flexibility, given a rigid government spending structure and relatively heavy interest burden. The main challenge public finances face is the persistent increase of primary current spending.
    • Protests in various cities around the country in 2013 expressed social discontent with the quality of government and with its ability to deliver public goods and services. However, Moody's does not expect upcoming elections to shift policies drastically given general consensus for preserving macroeconomic stability. Still, Moody's says Brazil faces political challenges related to difficulties in passing reforms necessary to remove structural obstacles that constrain the country's medium-term economic prospects.
    • ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRAF, UBR, BRZU, FBZ, BRZS, DBBR
    • Source: Moody's
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  • Dec. 3, 2013, 4:18 PM
    • “Brazil’s capital markets appear to be suffering from a sudden flight of capital," says Michael Shaoul, warning of a danger of "abrupt collapse in investor confidence ... Brazil should be watched closely in the days ahead."
    • The Bovespa slid another 1.75% today, but more alarmingly, the country's 10-year yield spread (vs. the U.S.) shot to its highest level since the summer of 2009.
    • This morning, Q3 GDP was reported to have contracted by 0.5%, worse than expectations. From Capital Economics: "Brazil is not particularly attractive to foreign firms ... Woefully low domestic savings mean that Brazil relies on attracting foreign capital in order to fund investment projects. But with the current account already in a significant deficit, there is little scope for running up an even larger external deficit to fund investment."
    • Off 1.3% today, the iShares MSCI Brazil Index ETF (EWZ) is down 20% YTD.
    • ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRAF, UBR, BRZU, FBZ, BRZS, DBBR
    | 2 Comments
  • Dec. 3, 2013, 8:56 AM
    • Brazil's Q3 GDP contracts 0.5%, missing estimates of a 0.3% contraction, and the worst performance since 2011 Q3. On a Y/Y basis, the economy grew 2.2%. The decline in Q3 was led by agriculture, which fell 3.5%. Investment also declined 2.2%.
    • The news adds to complications for President Rousseff who is up for election next year. Her government has already slashed by nearly half its forecast for robust 4.5% growth in 2013.
    • The central bank last week continued its rate-hike cycle, but gave indications a pause could be coming soon, and the slow GDP report is unlikely to change that view.
    • Brazil ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRAF, UBR, BRZU, FBZ, BRZS, DBBR
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  • Dec. 2, 2013, 7:44 AM
    • Brazil's November PMI slips to 49.7 from 50.2 previously, the move into contraction territory led by New Orders which stayed below 50 for the 5th consecutive month.
    • "The only good news was that the measures of inflation included in the PMI report also lost momentum: firms saw input prices rising at the slowest pace since June and output prices climbing at the weakest rate since May," says HSBC's Andre Loes.Brazil's central bank raised the Selic 50 basis points to 10% late last week - but a tweak to the statement has some economists predicting just one more rate hike for this monetary tightening cycle (the Selic was 7.25% in April).
    • Brazil ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRAF, UBR, BRZU, FBZ, BRZS, DBBR
    | Comment!
  • Nov. 28, 2013, 4:06 PM
    • Producer prices fall in Brazil from September to October, registering their first M/M decline (-0.37%) since February.
    • In annual terms, factory gate prices rose 5.18% last month, significantly below the 5.81% growth observed in September.
    • See also: Brazil central bank hikes benchmark rate
    • ETFs: EWZ, BRF, BZF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRAF, UBR, BRZU, FBZ, BRZS, DBBR
    | Comment!
  • Nov. 27, 2013, 5:42 PM
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BZF Description
WisdomTree Brazilian Real Fund seeks to achieve total returns reflective of both money market rates in Brazil available to foreign investors and changes in value of the Brazilian Real relative to the U.S. dollar.
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Country: Brazil
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