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iShares MSCI Brazil Capped ETF (EWZ)

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  • Today, 2:28 AM
    • Brazil's two-decade rule over the the Latin American stock markets is continuing to dwindle as the nation's recession and political crisis deepen and its currency plunges.
    • At one point a few years ago, Brazil's market was four times larger than nearest rival Mexico, but that gap, once as much as $1.1T, is now down to just $133B.
    • Regression analyses of the current pace of declines indicate Brazil's lead could disappear over the next 13 months.
    • ETFs: EWZ, EWW, MXF, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, MXE, BRAZ, BRAF, UBR, DBBR, UMX, DBMX, FBZ, SMK, QMEX, HEWW
    | Today, 2:28 AM | Comment!
  • Mon, Aug. 31, 1:04 PM
    • The latest from the high-level corruption scandal has the U.K Rolls-Royce being dragged in, with the company saying it's cooperating with investigators over bribery in Brazil's state oil business.
    • The Bovespa's 1.9% decline today is being led by banks Itau Unibanco (ITUB -5.2%), Banco Bradesco (BBD -5.9%), and Banco Santander Brasil (BSBR -3.2%).
    • Petrobas (PBR +1%) and Vale (VALE +1.2%) are actually hanging in there this session.
    • The iShares MSCI Brazil Index ETF (EWZ -3.3%)
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Mon, Aug. 31, 1:04 PM | Comment!
  • Fri, Aug. 28, 10:01 AM
    • Brazil's economy shrank 1.9% in Q2, missing forecasts for negative 1.7%. Investment fell 8.1% - its eight straight quarter of decline and the longest streak since the current data series started in 1996. Household consumption dropped 2.1%, its worse decline since 2001. Government spending rose 0.7%. The year-over-year inflation rate was 9%.
    • "The drop in consumption shows the crisis of confidence the economy is facing," says an economist. "This is going to be an intense and prolonged recession and I don't see a recovery this year."
    • The lame economic activity could spell doom for Brazil's credit rating - currently just above junk status.
    • The Bovespa is lower by 0.4%. EWZ -1.15%
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Fri, Aug. 28, 10:01 AM | 3 Comments
  • Tue, Aug. 25, 5:58 PM
    • Petrobras (NYSE:PBR) is among the Brazilian borrowers most at risk of seeing leverage ratios swell as the country's real posts the world’s biggest currency losses, according to a Bloomberg analysis.
    • For PBR, electric utility Eletrobras (NYSE:EBR), airline Gol Linhas Aereas Inteligentes (NYSE:GOL) and mall operator General Shopping Brasil (OTC:GBRAF), every 10% depreciation in the real boosts the companies’ debt-to-earnings ratio by a factor of 1x, Fitch Ratings says.
    • The companies, with a combined $60B of overseas bonds outstanding, are vulnerable to a falling real because they have high levels of foreign currency debt while most of their sales are in the local tender.
    • PBR’s $2.5B in bonds due 2024 have dropped ~9% YTD, EBR's $1.75B of bonds due 2021 have tumbled 13% since December, while GOL’s $325M in notes due 2022 have shed 17%.
    • ETFs: EWZ, BRZU, BRXX, BRAQ, BZQ, BRAF, UBR, DBBR, FBZ
    | Tue, Aug. 25, 5:58 PM | 1 Comment
  • Mon, Aug. 24, 8:08 PM
    • Economists in Brazil forecast inflation will accelerate to a 5.50% rate in 2016 and GDP will fall 0.24%.
    • The revised outlook marks the third consecutive week the estimate for inflation has been raised, while the view on GDP has been trimmed amid a weak local currency.
    • Multinationals, including automakers and consumer products companies, banking on a pre-Olympics economic rush in Brazil have had to pull back expectations.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ.
    | Mon, Aug. 24, 8:08 PM | 6 Comments
  • Thu, Aug. 20, 2:47 AM
    • Brazil's Senate has approved a bill to roll back corporate tax breaks, as President Dilma Rousseff's looks to reduce a gaping fiscal deficit and restore confidence in the face of record-low popularity ratings, a spreading corruption scandal and looming recession.
    • The measure will boost revenue by 10B reais ($2.9B) annually and aims to save Brazil's threatened investment grade credit rating.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Thu, Aug. 20, 2:47 AM | Comment!
  • Mon, Aug. 17, 4:13 AM
    • Hundreds of thousands of Brazilians took to the streets on Sunday calling for the impeachment of President Dilma Rousseff, although turnout appeared significantly lower than two massive protests staged earlier this year.
    • Demonstrators denounced widespread corruption among the country's political and business elites and called for the end of more than 12 years of Workers' Party rule.
    • Barely seven months into her second term, Rousseff has seen her approval rating drop to just 8%, while the Ibovespa stock index has plunged 10% over the same period
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Mon, Aug. 17, 4:13 AM | 1 Comment
  • Fri, Aug. 14, 4:00 AM
    • Brazil President Dilma Rousseff is poised to face another key test as allegations of corruption and incompetence swamp her government, and plummeting commodity prices sap the country's economy.
    • Hundreds of thousands of angry citizens are expected to descend on central squares on Sunday, marking this year's third mass protest calling for her impeachment.
    • A strong showing could help support an ouster and deepen a selloff in the financial markets. Brazil's benchmark Ibovespa stock index has plunged 17.2% since she was re-elected last October.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Fri, Aug. 14, 4:00 AM | 3 Comments
  • Tue, Aug. 11, 4:27 PM
    • Weaker-than-expected economic performance, the upward trend in government spending, and lack of consensus on government reform are teaming up to make the country's debt situation "deteriorate materially" this year and next, says Moody's, cutting Brazil's credit rating to Baa3 from Baa2. With the cut, the outlook is upgraded to stable from negative.
    • Not mentioned by Moody's is last night's devaluation of the yuan and how that might (negatively) impact exporters.
    • EWZ +1.9% in active after hours trading. The ETF is lower by about 50% over the past year.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Tue, Aug. 11, 4:27 PM | Comment!
  • Fri, Aug. 7, 4:17 PM
    | Fri, Aug. 7, 4:17 PM | Comment!
  • Wed, Jul. 29, 2:53 AM
    • Standard & Poor's has warned Brazil it could lose its coveted investment-grade rating in the coming year if fallout from a number of corruption investigations further stymies economic growth and implementation of austerity measures.
    • The agency has now put the country's foreign currency rating, which is rated one notch above junk, on negative outlook for possible downgrade.
    • The Brazilian real slid 2% to 3.43 per dollar following the announcement, its weakest level in more than 12 years.
    • ETFs: EWZ, BRF, BRZU, BZF, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Wed, Jul. 29, 2:53 AM | 1 Comment
  • Fri, Jul. 24, 4:16 PM
    | Fri, Jul. 24, 4:16 PM | 1 Comment
  • Fri, Jul. 24, 11:48 AM
    | Fri, Jul. 24, 11:48 AM | 21 Comments
  • Mon, Jul. 20, 4:52 AM
    • Entangled in the Greek debt crisis, few European policymakers had little time or interest to pay attention to the recent summit talks between the leaders of Brazil, Russia, India, China and South Africa, collectively known as the BRICS.
    • The hotly discussed New Development Bank was reported to have just held its first board meeting and will soon be lending internationally. The BRICS Bank will start off with a capital of $50B which will be hiked to $100B in two years.
    • Meanwhile, the combined economic output of the BRICS last year almost matched America's GDP. Back in 2007, the U.S. economy was double that of the five nations.
    • ETFs: EWZ, RSX, EPI, INDY, RUSL, PIN, EZA, INP, INDL, RSXJ, ERUS, RUSS, DSUM, CHIX, INXX, INDA, RBL, BRZU, BZQ, UBR, BRZS, DBBR, CHLC, FBZ, RUDR
    | Mon, Jul. 20, 4:52 AM | 4 Comments
  • Fri, Jul. 17, 3:59 PM
    • Brazil's political crisis deepens as Eduardo Cunha, the head of Brazil’s lower house, said today he is breaking with the ruling coalition.
    • Cunha accused Pres. Rousseff's administration of pressuring prosecutors to implicate him in the widening corruption scandal at Petrobras scheme; late yesterday, the federal judge leading the investigation broadcast testimony from a defendant who turned state’s evidence alleging that Cunha took bribes.
    • The move comes after a series of recent defeats in congress for Rousseff as lawmakers turned aside efforts to contain spending and raise taxes as she seeks to preserve Brazil’s investment-grade credit rating.
    • PBR -5.5%, VALE -2.2%, EBR -2.1%, ELP -2.9%, CIG -5.8%, CPL -2.1%, SBS -2.9%, BSBR -1.1%, BBD -2.2%, ITUB -1.5%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Fri, Jul. 17, 3:59 PM | 8 Comments
  • Thu, Jun. 25, 3:57 PM
    • Brazil's financial markets were routed today after a news report that former President Luiz Inacio Lula da Silva could be arrested as part of the sweeping corruption scandal involving Petrobras (PBR -4.7%).
    • Investors were spooked by a report that a habeas corpus legal filing had been made on behalf of Lula to protect him from unlawful arrest in the corruption investigation; spokespersons later said the proceeding had not been filed by the ex-president or his representatives and that they had no prior knowledge of it.
    • Also, Brazil's non-seasonally adjusted jobless rate rose in May to 6.7%, the highest since 2010, from 6.4% in April, reinforcing worries that the country is on the verge of a recession.
    • Also: PBR.A -5%, VALE -3.6%, EBR -4.5%, ELP -2.5%, CIG -4.6%, CPL -2.6%, SBS -2%, BSBR -2.5%, BBD -1.1%, ITUB -2.7%.
    • ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
    | Thu, Jun. 25, 3:57 PM | 34 Comments
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EWZ Description
The iShares MSCI Brazil Capped Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Brazil 25/50 Index (the “Underlying Index”).
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Country: Brazil
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