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iShares MSCI Brazil Capped ETF (EWZ)

  • Feb. 1, 2012, 10:59 AM
    Brazil January PMI rises to 50.6 from 49.1 in December, the first read above 50 since May. While the worst of the slowdown may be in the rear view mirror, HSBC economist Andre Loes cautions the number is only consistent with a sideways-moving economy. EWZ +2.2%.
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  • Jan. 31, 2012, 7:45 AM
    Brazil's December industrial production rises 0.9% against estimates for a 1% gain, still the largest jump since May and giving rise to hopes the country can reverse Q3's shrinkage in GDP.
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  • Jan. 27, 2012, 10:51 AM
    With Brazil's central banks apparently considering further interest rate declines after cutting to 10.5% last week, Brazilian stocks (EWZ) have far outperformed the U.S. S&P 500 (SPY) - +15.1% vs. +4.6% YTD - even on days with signs of investor profit-taking. Does this mean that global reflation expectations are on the way? (submitted by Michael Gayed)
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  • Jan. 19, 2012, 9:40 AM
    Defining overbought as being more than 5% above a 50-day moving average, Bespoke says 24% of tracked ETFs fit the bill. Leading the list is the homebuilders (XHB), more than 13% above its 50 day MA; Brazil (EWZ) leads the country ETFs, 8.2% above. A few more days of market gains and look for talk about the entire market being overbought.
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  • Jan. 17, 2012, 12:29 PM
    UBS's Jonathan Anderson notes - for the most part - a solid correlation between GDP growth in emerging markets and equity returns. Two outliers on the positive side - The Phillippines (EPHD) and Thailand (THD) - could continue to outperform, while 2 on the downside - Brazil (EWZ) and India (EPI) - both may have their growth slowdowns behind them.
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  • Jan. 3, 2012, 3:52 PM
    Brazil's 2011 trade surplus soars to nearly $30B, 25.7% more than 2010 and the highest level since 2007. China - with a voracious appetite for the raw materials Brazil is chock full of - was the main destination for the country's goods, followed by the U.S. The government expects a smaller surplus in 2012 as China slows and "currency wars" hurt the real's competitiveness.
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  • Jan. 3, 2012, 12:05 PM
    Brazil's December PMI rises to 49.1 from the previous month's 48.7. It's the 3rd consecutive monthly increase, and the strongest print in 7 months, "suggest(ing) the worst of the current economic downturn may indeed be behind us." says HSBC chief Brazil economist Andre Loes. EWZ +3.9%.
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  • Dec. 30, 2011, 7:42 AM
    Brazil's surging economy of the past few years owes a least a bit to its citizen's appetite for debt (and bank willingness to issue it), making bill collecting the latest boom industry there. The volume of credit has doubled to 50% of GDP in less than a decade, with 5.6% of the $1.1T total more than 90 days past due. Some Brazilian banks YTD: BBD -19%, BSBR -41%, ITUB -24%.
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  • Dec. 28, 2011, 3:20 PM
    The oil spill off of Brazil's coast might reveal more about politics in Brazil than failings with Chevron (CVX -1.5%), according to The Economist. While politicians spend time dickering over how to split exploration royalties and demonizing Chevron over a relatively small spill, they risk seeing foreign companies pull out and losing their status as an oil major.
  • Dec. 27, 2011, 4:00 AM
    The U.K. loses its spot as sixth-largest economy to Brazil, says the Center for Economics and Business Research, as the resource-rich South American economy has surged on exports to China. The latest CEBR forecasts revise global growth down to +2.5% in 2012, though the figure could fall to +1.1% should "one or more countries” leave the euro.
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  • Dec. 23, 2011, 8:31 AM
    Brazil dips its toe into the QE business, de facto requiring large lenders use part of their reserves deposited with the central bank to purchase loan portfolios from smaller institutions. If the big banks don't participate, they won't receive interest on a portion of their deposits with the central bank, no small inducement when the rate is 11%.
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  • Dec. 23, 2011, 6:54 AM
    Chevron's (CVX) oil spill in Brazil raises the stakes with government officials keen to keep the nation's beaches pristine in advance of hosting the 2014 World Cup and 2016 Olympic Games. Economist Adriano Pires warns that new drilling could be so rigid that oil exploration becomes unprofitable.
  • Dec. 22, 2011, 7:12 AM
    Brazil November unemployment falls to 5.2% vs. expectations for 5.7%. Interest rate futures fall a bit, reflecting somewhat less of a chance of further rate cuts by the central bank.
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  • Dec. 21, 2011, 7:47 AM
    Brazilian inflation (measured from mid-month November to mid-month December) rises to 0.56% from 0.46 previously, inline with expectations. The Y/Y rate slows a hair to 6.56% above the target of 4.5% plus/minus 200 bps, but close enough for the central bank not to have to abandon its rate-cutting cycle.
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  • Dec. 20, 2011, 12:17 PM
    The watch is on the see if Brazilian inflation - 6.64% through November - can nose under 6.5% for the year, within the central bank's goal of 4.5%, plus or minus 2 points. Like the the BoE's Mervyn King, Alexandre Tombini of Brazil's central bank will have to write an explanatory letter if it misses.
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  • Dec. 20, 2011, 10:10 AM
    As the Mercosur summit opens in Montevideo, higher tariffs on a slew of products look to be on the way as South America contends with a flood of cheap Asian imports. Argentina and Brazil have already agreed to a considerable boost in the average 14% rate, with just some back-room haggling left to bring other countries on board.
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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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