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iShares MSCI Brazil Capped ETF (EWZ)

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  • Jan. 8, 2013, 10:10 AM
    Struggling to meet its budget targets amid disappointing tax revenue, Brazil changes the rules, calling about $20B of spending, "investments," and excluding it from the budget goal.  EWZ - dominated by Petrobas, Vale, and the big banks - fell nearly 5% last year even as the central bank furiously cut rates. Small caps (BRF) fared better, up more than 15%.
    | 2 Comments
  • Jan. 2, 2013, 1:48 PM
    Those iShares (BLK) ETF fee hikes? They're just a technicality having to do with a regulatory requirement requiring fees be calculated from past data. For funds like EEM, 2013 fees will actually likely be lower than 2012, thanks to sharply higher assets today than 6 months ago.
    | 3 Comments
  • Jan. 2, 2013, 9:15 AM
    Brazil's December PMI slips to 51.1 from 52.2 previously. The Employment index remained below 50 for the 9th consecutive month, and Backlogs continue to contract as well, as companies have no problem keeping up with orders despite smaller staffs. The Bovespa +2.6% in early action.
    | 1 Comment
  • Jan. 1, 2013, 11:20 AM
    On the country ETF dashboard, green all around for 2012 with the exception of Brazil (EWZ -2.5%) and Argentina (ARGT -18.6%). Topping the list were Turkey (TUR +62.3%), Philippines (EPHE +46.6%), Thailand (THD +37.2%), Egypt (EGPT +34.2%) and Ireland (EIRL +32.1%).
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  • Dec. 31, 2012, 11:51 AM
    More details on iShares' ETF fee hikes: Going to 0.61% from 0.59% (a 3.4% hike) are its Chile Investable Market Fund (ECH), China Small Cap Fund (ECNS), Indonesia Investable Market Fund (EIDO), Israel Capped Investable Market Fund (EIS), Philippines Investable Market Fund (EPHE) , Poland Investable Market Fund (EPOL), All Peru Capped Fund (EPU), Taiwan Fund (EWT), South Korea Fund (EWY), Brazil Fund (EWZ), Brazil Small Cap Fund (EWZS), South Africa Fund (EZA), Thailand Investable Market Fund (THD) and Turkey Investable Market Fund (TUR).
    | 2 Comments
  • Dec. 31, 2012, 8:47 AM
    More on the iShares price hikes: Mostly targeted for higher fees is the manager's line of single country ETFs - Brazil (EWZ), Japan (EWJ), Australia (EWA), Hong Kong (EWH), Canada (EWC), and Singapore (EWS), just to name a few of the more popular ones.
    | 3 Comments
  • Nov. 30, 2012, 7:39 AM
    Brazil's GDP grows just 0.6% in Q3, far less than forecasts for 1.2%. The punk print is lead by a steep 2% decline in investment. "If investment doesn't rebound then we are in trouble in 2013," says an economist. Interest rate futures - which had baked in no policy changes for more than a year - are sharply higher, now beginning to price in further rate cuts. EWZ +0.4% premarket.
    | 1 Comment
  • Nov. 28, 2012, 5:04 PM
    Ending more than a year-long string of rate cuts which brought the Selic down more than 500 basis points, Brazil's central bank leaves its benchmark rate unchanged at 7.25%, and says it will keep rates stable "for a prolonged period." Shares have thus far not responded to the easier policy, EWZ -10.2% YTD.
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  • Nov. 19, 2012, 12:34 PM
    Iron ore was in a 100-year bear market until China's mid-2000 boom, says Jim Chanos at London's Ira Sohn conference, and reiterating VALE as one of his favorite shorts. Of another Brazilian giant (and another favorite short) - Petrobas (PBR): "Every single dollar that comes in is going back out and yet production is declining. That is not a business."
    | 2 Comments
  • Nov. 6, 2012, 8:21 AM
    Brazil's October services PMI slides to 50.4 from 52.8 previously. "The slowdown in economic activity ... was unexpected, as we were expecting the economy to gain further momentum in Q4," says HSBC.  More positively, the business expectations index jumped to 86.8 from 67.5.
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  • Nov. 5, 2012, 2:52 PM
    Performance in Brazil is a negative in an otherwise positive earnings report from HSBC as the bank - specifically citing Brazil - said loan impairment charges in Latin America in Q3 jumped 25%. The country's banking sector has lost 10% of its value this year thanks to slowing growth no longer being able to mask a rise in non-performing loans.
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  • Nov. 1, 2012, 9:36 AM
    Brazil's HSBC October PMI rises to 50.2 from 49.8 previously, the first time in expansion territory since March. New Orders and Production led the gain, but New Export Orders contracted for the 19th consecutive month. The Bovespa continues to be the exception to the "Don't fight the (central bank)" rule, -11.6% Y/Y even as short rates have come down more than 500 basis points.
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  • Oct. 25, 2012, 11:56 AM
    Brazil's unemployment rate falls to 5.4% in September - a record-low for that month, though missing expectations for 5.3%. A year ago, the rate stood at 6%. The Bovespa leads global markets on the upside today, +1.2%, though still down over the past year even as the central bank has slashed rates more than 500 basis points.
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  • Oct. 24, 2012, 3:18 PM
    Hoping to keep the sales momentum going, Brazil extends to the end of the year tax cuts on car purchases. In addition, the government makes lending easier by reducing the reserves banks must hold against auto loans. Part of the program also includes raising tariffs on imports, a move already causing a rush of foreigners planning plants in the country.
    | 1 Comment
  • Oct. 11, 2012, 3:06 PM
    Pessimism grows for Brazilian stocks with brokers joking of getting shown the door at buy-side houses when trying to hawk the shares. The concerns of shareholders at Petrobas (PBR) and VALE seem to take a back seat to those of the government, and investors wonder which sector - perhaps the banks - will be the next target of intervention. EWZ -5.5% YTD.
    | 1 Comment
  • Oct. 10, 2012, 3:13 PM
    As Brazil's central bank meets, a rate cut isn't assured for the first time in over a year. The benchmark Selic currently stands at an all-time low of 7.5%, but the bank indicated at its last meeting a pause might be in order. For the moment, still-slowing growth will have to be balanced against inflation of 5.28% (vs. the 4.5% top of the target range).
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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”).
See more details on sponsor's website
Country: Brazil
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