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iShares MSCI Brazil Capped ETF (EWZ)

  • May 17, 2012, 1:29 PM
    Remain underweight Brazil despite easier monetary policy, argues BCA, saying the nation's banks face difficulties on two fronts: Funding difficulties as EU banks delever, and deterioration of credit portfolios as delinquency rates rise even with unemployment at a record low. EWZ -8.8% YTD.
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  • May 17, 2012, 12:08 PM
    Mexico's Q1 GDP increased 4.6% Y/Y vs. expectations of 4.5% and from 3.9% in 2011 Q4. The strong performance of the peso this year has failed to dent manufacturing or exports, with March's trade surplus of $1.6B the highest for one month since 1985. Mexico (EWW) vs. Brazil (EWZ) this year.
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  • May 15, 2012, 11:23 AM
    Brazil continues aggressive fiscal and monetary ease, as President Rouseff plans to cut taxes for electricity producers and distributors. It's the latest in a series of tax cuts for industry, and officials say these will be the most aggressive yet. Thus far, the Bovespa is fighting the sell off, +0.2%.
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  • May 14, 2012, 3:16 PM
    Top Brazilian officials privately cut their forecast for 2012 economic growth to 3%, inline with private economists, and well below the government's official 4.5% forecast. They remain confident growth will bounce in H2, thanks to 350 basis points in rate cuts working through the pipeline as well as a number of expansive fiscal measures. The Bovespa today, -2.8%.
  • May 9, 2012, 12:04 PM
    Brazilian inflation gains 0.64% in April, the biggest jump in a year, and ahead of estimates for 0.59%. The speedy move was helped by a 12.3% decline in the real over the last 3 months, but is unlikely to push the central bank off a course of further rate cuts, especially as the annual inflation rate fell to 5.1% from 5.24%. EWZ -1.6%.
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  • May 3, 2012, 8:26 AM
    The real (BZF) was the worst performing emerging market currency last month, losing 4.3% vs. the dollar to about its weakest level in 3 years. Some expect the central bank to continue its aggressive ease and cut the Selic below 8.75% this month (8.75% in Brazil is like 2% in the U.S. - unimaginable, until recently). The weakened real isn't yet doing holders of EWZ any favors.
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  • May 2, 2012, 12:06 PM
    Brazil's April PMI declines to 49.3 from 51.1 previously, the first contraction in 2012. The only sub-indices above 50 were (what else) input and output prices, with output prices hitting their highest level since May. Better Brazil than Spain, where input prices are on the rise, but output prices are falling. Brazil ETF: EWZ -0.7%.
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  • Apr. 27, 2012, 3:24 PM
    Brazil's Bovespa continues to drop, -0.8% today as VALE, already stung by diving earnings, has its $5.9B potash project in Argentina threatened by Kirchner's shenanigans. Brazil's banks are also booking losses as the country enters the "not fun" part of a consumer credit boom. On the plus side, the central bank is aggressively cutting rates. The divergence between Brazil and the S&P.
  • Apr. 25, 2012, 6:12 PM
    Not joining in the worldwide rally today was Brazil (EWZ -0.8%), dragged down by a plunge in Itau Unibanco (ITUB -5.7%). Rising defaults forced the lender to raise provisions for bad loans by 38% as the country faces the downside of a consumer credit boom. Keep an eye on tomorrow's earnings from Banco Santander's (STD) - from Spain (with its own issues), but with large Brazilian operations.
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  • Apr. 25, 2012, 7:45 AM
    More on Caterpillar (CAT): The company raises its full year profit outlook to $9.50/share while maintaining revenue at $68-$72B. The bears, however, are likely to pounce on "slowing in China and Brazil," mentioned early and often by CEO Doug Oberhelman. Shares -1.8% premarket. (PR)
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  • Apr. 23, 2012, 3:23 PM
    Where's the rally, asks Scotty Barber, who notes the BRICs - during periods when their central banks are cutting rates - outperform developed markets. Brazil's 75 point cut (with more to come) was the loudest move, but policy is easing in the others as well. As of yet there's been no rally in either absolute or relative terms.
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  • Apr. 19, 2012, 10:54 AM
    The Bovespa hugs the flatline after Brazil's central bank cut its benchmark rate an expected 75 bps to 9% last night. The Copom's accompanying statement, however, was a dovish one - leaving the door open for more cuts after earlier giving the impression yesterday's move would be the last for this cycle.
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  • Apr. 18, 2012, 7:22 PM
    Brazil cuts its benchmark Selic interest rate to 9% from 9.75% in a unanimous decision - as expected by most all economists, but now near an all-time low.
  • Apr. 17, 2012, 2:53 AM
    If China grows "only" 7.5% this year, Latin America will likely feel the pain, as China has become one of the largest trading partners for many Lat.Am. countries and has helped open Asia as an export market. In Brazil, exports to China have increased more than forty fold since 2000, growth that is likely unsustainable as China slows.
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  • Apr. 16, 2012, 4:47 PM
    Is Brazil ready to break out of the "middle income trap" or have its issues been masked by a China-led resource boom and a massive property bubble? "Prices are crazy," says Rio's mayor. Bulls counter that mortgage debt is low, but 100% financing schemes have widespread use, giving "a strong whiff of Fannie, Freddie, and America's subprime."
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  • Apr. 2, 2012, 9:31 AM
    Brazil March PMI edges down to 51.1 from 51.4 previously. It's the 3rd consecutive month in expansion territory, led by domestic orders. Export orders, however, remained in negative territory, likely to give more fuel to finmin Mantega in his currency war fight.
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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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