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iShares MSCI Brazil Capped ETF (EWZ)

  • 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).
    | Oct. 10, 2012, 3:13 PM | Comment!
  • Oct. 1, 2012, 9:18 AM
    Brazil's September Manufacturing PMI rises to 49.8 from 49.3 previously, the slowest rate of contraction in 6 months. Though New Orders continued to fall, Production rose into expansion territory for the first time since March. "(It) reinforces perceptions that Brazil's manufacturing sector experienced a modest rebound at the end of Q3," says Markit.
    | Oct. 1, 2012, 9:18 AM | 1 Comment
  • Sep. 27, 2012, 7:45 AM
    Brazil's central bank sharply cuts its 2012 GDP forecast for the country to 1.6% from 2.5% previously. The estimate comes as part of the Copom's quarterly inflation report. Again using the term "maximum parsimony," to describe any future monetary policy actions, the bank suggests its cycle of rate cuts may be coming to an end.
    | Sep. 27, 2012, 7:45 AM | Comment!
  • Sep. 20, 2012, 3:53 PM
    Laggards to the S&P for some time, might emerging markets ETFs benefit more from QE? U.S.-listed emerging market funds saw inflows of $3.3B in the days following the Fed's announcement vs. just $375M for the entire previous week. Broad funds like VWO and EEM saw the most share creations, but individual countries like Brazil (EWZ), China (FXI), Russia (RSX), and Taiwan (EWT) also saw sizable action.
    | Sep. 20, 2012, 3:53 PM | Comment!
  • Sep. 12, 2012, 3:10 PM
    Shares of Brazilian electric utilities plunge a day after the country announced a major cut in electricity taxes that will lower energy costs for industries and consumers. UBS says the “stock-price declines on regulatory noise seem exaggerated,” presenting buying opportunities. CIG -20.8%, ELP -8.9%, EBR -7.9%, CPL -3.7%.
    | Sep. 12, 2012, 3:10 PM | 3 Comments
  • Sep. 4, 2012, 12:25 PM
    Brazil's August PMI rises to 49.3 from 48.7 previously, led by New Export Orders remaining in contraction for the 16th consecutive month. Separately, the government was forced to cut its 2012 export forecast after a sharp fall in trade for August. Two key products: iron ore and sugar this year have seen export volume declines combining with big price drops - a tough 1-2 punch. EWZ -1.6%.
    | Sep. 4, 2012, 12:25 PM | Comment!
  • Aug. 31, 2012, 8:58 AM
    Brazil's Q2 GDP rose 0.4% from Q1 and 0.5% Y/Y, lower than estimates for 0.5% and 0.7%, respectively. One wonders if the central bank - which has cut rates by 500 bps over the past year, but indicated this week's reduction would be the last - will be forced to reconsider as the economy remains sluggish.
    | Aug. 31, 2012, 8:58 AM | Comment!
  • Aug. 30, 2012, 10:18 AM
    The Bovespa -0.2% in early trade after the Brazilian central bank cut its benchmark rate another 50 bps to 7.5%. It brings the rate-cutting cycle to one year and 500 bps, but the accompanying statement suggests that has come to an end. The cuts have yet to benefit stocks there, which remain amongst the poorest performers on the planet over the past year.
    | Aug. 30, 2012, 10:18 AM | Comment!
  • Aug. 16, 2012, 7:39 AM
    Brazilian president Roussef launches a $65.6B stimulus package (nearly 3% of GDP) aimed at goosing the ailing economy. The money initially looks to be aimed at infrastructure spending. including highways, where the government expects to double their capacity. EWZ -5% YTD.
    | Aug. 16, 2012, 7:39 AM | 2 Comments
  • Aug. 1, 2012, 9:20 AM
    Brazil's July PMI edges up to 48.7 from 48.5 previously, but remains in contraction territory for the 4th consecutive month. "Stocks of finished goods were depleted at the fastest pace since March," comments Markit, suggesting hope for a production pickup. Mercilessly beat on for the last year, Brazilian shares have shown signs of life the last 2 weeks, EWZ +5.6%.
    | Aug. 1, 2012, 9:20 AM | Comment!
  • Jul. 29, 2012, 8:20 AM
    Be careful chasing momentum, writes UBS' Javier Kulesz, reminding of 2 years ago when Brazil - garnering the Olympics and the The Economist cover while getting kudos for its swift post-GFC recovery - was a market darling, while Mexico was just the opposite. Since then, Mexico (EWW) is up over 20%, outperforming Brazil (EWZ) by more than 4500 basis points. Now it's Mexico drawing the raves. One might do worse going forward than going long Brazil against a short in Mexico.
    | Jul. 29, 2012, 8:20 AM | 4 Comments
  • Jul. 19, 2012, 9:22 AM
    Future rate cuts will be carried out with "parsimony," reads the minutes of last week's meeting of Brazil's central bank, meaning another 50 bp reduction is likely. The bank last week cut the Selic 50 bps to a record-low 8%, making for a total reduction of 450 bps over the last 11 months. Brazilian shares are starting to show some life, EWZ +2.2% the last 5 sessions.
    | Jul. 19, 2012, 9:22 AM | Comment!
  • Jul. 12, 2012, 2:38 AM
    Brazil cut its benchmark interest rate yesterday for the 8th time since August, chopping off 50 bps to a record-low 8%. Policymakers are scrambling to revive an economy that has failed to respond for the last year to a barrage of stimulus measures. Further rate cuts could follow.
    | Jul. 12, 2012, 2:38 AM | Comment!
  • Jul. 10, 2012, 3:49 PM
    Getting the worst of it today (again) is Brazil, the Bovespa -3.1% amidst growing signs of something beyond a healthy slowdown in major customer China. In America, we don't fight the Fed. Brazil? The central bank is expected to cut another 50 basis points to 8% tomorrow, continuing aggressive easing that has brought the benchmark rate down from 12.5% a year ago. EWZ -30% Y/Y.
    | Jul. 10, 2012, 3:49 PM | 1 Comment
  • Jul. 4, 2012, 2:07 PM
    Brazil plans to continue cutting rates in 50 bps increments as the economy recovers more slowly than expected, according to a government source familiar with the matter. The eurozone crisis, though somewhat stabilized, and the U.S. fiscal situation are hurting investor and consumer confidence in Brazil, said the official.
    | Jul. 4, 2012, 2:07 PM | Comment!
  • Jul. 2, 2012, 9:31 AM
    Brazil's June PMI falls to 48.5 from 49.3 previously, the lowest read since October. The Q2 average of 49 is below Q1 of 51 and 2011 Q2 of 50.1, notes HSBC. "This also reinforces the perception that the manufacturing sector kept struggling with competitiveness issues," i.e., the real is too strong.
    | Jul. 2, 2012, 9:31 AM | 1 Comment
EWZ vs. ETF Alternatives
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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