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iShares MSCI Brazil Capped ETF (EWZ)

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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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  • Mar. 22, 2012, 11:44 AM
    Brazilian inflation rises just 0.25% in the month ending in mid-March, slower than estimates for 0.38% and February's 0.53%. The Y/Y rate declines to 5.61% from 5.98%. The jobless rate clicks up to 5.7% from 5.5%, the lowest ever recorded for February, but local quirks make the number a questionable one.
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  • Mar. 15, 2012, 8:09 AM
    The real shoots higher as Central Bank of Brazil minutes indicate rates should continue to fall, but will stabilize above historic lows. The bank surprised markets last week by slashing rates 75 basis points to 9.75%. Brazil ETF: EWZ +0.9% premarket. No action yet in the real ETF (BZF).
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  • Mar. 12, 2012, 11:49 AM
    Brazilian President Rousseff blasts QE, saying the country "will defend itself from these openly protectionist policies ... This artificial currency depreciation is not regulated by the WTO ... we will do whatever is possible and impossible to defend Brazilian industry." The real (BZF) -1.6%. The Brazil ETF: EWZ -2.4%.
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  • Mar. 12, 2012, 9:47 AM
    Economists cut their forecast for Brazil's benchmark lending rate - the Selic - to 9% following the central bank's somewhat surprising 75 bp cut to 9.75% last week. Given the easier monetary policy, the consensus inflation forecasts for 2013 are hiked to 5.5%. Brazil ETF: EWZ +15.8% YTD.
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  • Mar. 8, 2012, 10:17 AM
    The Bovespa +1.2% in early trade following the central bank's somewhat surprising 75 basis point interest rate cut last night. The real (BZF -0.4%) stumbles just a bit. The Brazil ETF: EWZ +0.5%.
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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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