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EWZ

iShares MSCI Brazil Capped Index ETF

5/25/2013, 1:37 AM ET

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Wednesday, May 8, 2:52 PM The recent selloff in commodities (DBC) is not a correction, says Stan Druckenmiller, now on stage at Ira Sohn, but instead the end of the supercycle. Avoid commodity markets - Brazil (EWZ, BRF, BRL), South Africa (EZA, SZR), Canada (EWC, FXC). "Frankly, I'd short the aussie (FXA)." His largest equity holding? "I can't imagine a better position than Google (GOOG)" - selling for 16x earnings and no exposure to China. 4 Comments [Quick Ideas]
Wednesday, May 1, 10:52 AM Investors wanting leveraged bearish exposure to Brazil (EWZ) and South Korea (EWY) get two new offerings today as Direxion launches the Daily Brazil Bear 3x ETF (BRZS) and the Daily South Korea Bear 3x ETF (KORZ). The bull versions (BRZU, KORU) of these funds launched about a month ago. Comment! [Global & FX]
Wednesday, April 17, 8:13 PM Responding to percolating inflation even amid lame economic growth, Brazil's central bank hikes its benchmark rate for the first time in nearly 2 years, lifting the Selic 25 bps to 7.5%. The poor Bovespa - the bank's recently-completed rate-cutting cycle failed to do much for Brazilian stocks, and now it's back to tightening again. EWZ -31.9% over the last 2 years. 1 Comment [Global & FX]
Wednesday, April 10, 4:42 PM Direxion launches two triple-leveraged single-country ETFs today - Daily Brazil Bull 3X Shares (BRZU) and Daily South Korea Bull 3X Shares (KORU). Both the funds have an expense ratio of 0.95%, much higher than counterparts FKO and FBZ (0.80%) and EWY and EWZ (0.60%), but matching UBR (0.95%). The timing of the launch is interesting as both countries have struggled to perform recently, with iShares' Brazil fund EWZ -13.4% (last 12 months) and -2.4% (YTD). EWY (South Korea) is -6.2% (last 12 months) and -12.3% (YTD). Comment!
Monday, April 1, 9:10 AM Brazil's PMI slows to 51.8 in March from 52.5 previously, but remains in expansion territory for the 6th consecutive month. The average of 52.5 for Q1 is higher than the 51.2 pace for 2012 Q4. Price pressures percolate with input prices rising at their fastest pace in almost 2 years. EWZ -0.25% premarket. Comment! [Global & FX]
Wednesday, March 27, 12:28 PM Emerging markets have been big underperformers in 2013 and outflows from their ETFs (EEM, VWO) have picked up speed in recent days. Single country ETFs are beginning to see spillover, with EWZ and RSX notable for redemption activity of late. Every single one of the top 7 single-country components of the MSCI EM Index (EEM) is down YTD. Comment! [Global & FX]
Wednesday, March 27, 11:29 AM Brazil puts in a sharp reversal after a gauge of inflation slows and President Rousseff - speaking in South Africa - says anti-inflation policies are outdated. The two combine to give hope the central bank will refrain from what was thought to be an imminent hike in rates. EWZ +0.6%. The real (BZF) declines for a 7th straight day. 1 Comment [Global & FX]
Friday, March 22, 4:32 PM The week's ETF movers - Gainers: AMJ +3.37%. VXX +2.24%. GDX +2.20%. XLP +2.13%. UNG +1.98%.
ETF Losers: EPI -5.54%. BRF -4.26%. KOL -3.67%. EWZ -3.64%. FCG -3.43%. Comment! [On the Move]
Monday, March 11, 3:53 PM Brazil is busy scrapping taxes on certain food staples and toiletries after February inflation surprisingly jumped 0.6% despite the government slashing electricity rates. The speedy print raises fears of a rate hike or at least maybe quashes ideas of a rate cut cycle getting started. Earlier: The central bank aims to weaken the real; that's not going to help. Comment! [Global & FX]
Monday, March 11, 9:40 AM The Brazil ETF (EWZ) weakens 0.8% out of the gate after the central bank moves to weaken the real by setting an auction of up to 30K reverse FX swap contracts. The action may ultimately juice stocks, but the EWZ is not currency hedged. Real ETF: BZF -0.5%. Comment! [Global & FX]
Friday, March 8, 5:21 PM The week's ETF movers - Gainers: EPI +5.99%. FCG +5.25%. UNG +4.93%. TAN +4.45%. EWZ +4.44%.
ETF Losers: VXX -11.09%. TLT -3.49%. FXY -2.60%. EWY -1.36%. MUB -1.36%. 4 Comments
Thursday, March 7, 1:28 PM Along with a big move higher in Petrobas the past couple days have been sizable gains for Itau Unibanco (ITUB) and Vale. These stocks more or less dominate the Bovespa and the EWZ, and both are surging alongside. EWZ up another 2.2% today, -14% Y/Y. Comment! [Global & FX]
Wednesday, February 13, 9:31 AM The big banks get a lot of headlines for slashing jobs, but one place they're adding is Mexico thanks to speedy economic growth, a hot stock market, and rising peso. At the same time, some are cutting back in Brazil as the economy and stock market stumble. Previous: ETF investors abandon Brazil (EWZ) for Mexico (EWW). Is a contrarian trade idea forming? Comment! [Global & FX, Quick Ideas]
Tuesday, February 12, 3:44 PM Markets make opinons, they say, and Brazil's (EWZ) poor performance has managers pulling funds and talking about long-term troubles for the next great country. Money is instead chasing performance in Mexico (EWW), Peru (EPU), and Chile (ECH). A 10% move up in the Bovespa and it's our guess the prospects for Brazil among the adviser crowd will have improved. Comment! [Global & FX]
Thursday, February 7, 4:02 PM A look beneath the hood of Schwab's (SCHW) recently unveiled lineup of 105 commission-free ETFs shows an impressive breadth of asset class coverage, including currency, physical metals and equal-weight sector ETFs not previously available for commission-free trading. Notably absent: iShares single country funds, 10 of which are available among the 101 ETFs TD Ameritrade (AMTD) offers commission-free. Comment!
Friday, February 1, 7:44 AM Brazil's January PMI rises to 53.2 from 51.1 in December, and consensus 51.0. It's a 23-month high for the gauge and was led by strong rises in New Orders and Production. HSBC: "Despite these strong numbers, the growth outlook for Brazil remains vulnerable to the fallout from uncertainty regarding electricity supply." Comment! [Global & FX]

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