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iShares MSCI Brazil Capped ETF (EWZ)

  • 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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  • Mar. 7, 2012, 8:22 PM
    Brazil's central bank cuts its benchmark rate by 75 basis points to 9.75%. Economists had been expecting a 50 basis point cut, but interest rate futures markets had priced in a healthy chance of 75.
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  • Mar. 7, 2012, 8:45 AM
    Brazil's central bank is expected to lower rates at its policy meeting tonight, but yesterday's weak GDP report brings up the question of how much of a cut? Markets are pricing in something greater than the 50 bps (bringing the benchmark to 10%) expected by economists. Brazil ETF: EWZ +16.1% YTD. Real ETF: BZF +7.3% YTD.
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  • Mar. 6, 2012, 11:16 AM
    Almost $9 out of every $10 put into equity ETFs worldwide in 2012 has gone into emerging market funds, according to BlackRock. It's the best performance ever for the sector in the initial 2 months of a year as investors chase strong performance in places like Egypt (EGPT), Brazil (EWZ), and China (FXI). Two broader EM funds: VWO +12.2%, EEM +12% YTD.
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  • Mar. 6, 2012, 7:42 AM
    Brazil's 2011 GDP growth comes in at 2.7%, short of a recent government forecast of 3% and well off the 4.5% target put in place at the start of the year. The economy grew 0.3% in Q4 (1.4% Y/Y). The central bank is in rate-cutting mode and the finmin "currency war" mode as the country looks to return to speedier growth.
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  • Mar. 2, 2012, 1:38 PM
    Brazil's February trade surplus of $1.15B was a 43% increase Y/Y. The U.S. has been the largest destination for Brazilian goods thus far in 2012 at $4.6B, followed by China at $4B. For sales, it reverses, with China moving $2.64B of product to Brazil and the U.S. $2.36B.
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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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