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iShares MSCI Brazil Capped ETF (EWZ)

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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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  • Mar. 2, 2012, 3:04 AM
    Brazil launches a new "currency war" against the U.S. and Europe, warning the government won't "sit by passively" as developed nations pursue expansionary monetary policies at Brazil's expense. In response, Brazil is extending a tax on foreign borrowings and threatening further capital controls, but analysts expect the measures to have limited impact.
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  • Mar. 1, 2012, 8:21 AM
    Brazil February PMI rises to 51.4 (50.6 previously), an 11-month high. The index measuring the stock of finished goods not only remains below 50, but fell in February, notes HSBC economist Andre Loes, suggesting the manufacturing improvement is something beyond just the inventory cycle.
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  • Feb. 29, 2012, 3:09 AM
    Bank lending in Brazil fell 0.2% last month, the first contraction in almost three years, while loan defaults rose for the first time in two months. Both underscore the abrupt slowdown in Latin America's largest economy, though seasonal factors also contributed to the weakness.
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  • Feb. 27, 2012, 7:45 AM
    Brazil's central bank president Tombini reiterates his commitment to continue cutting rates despite a survey showing current real rates are inconsistent with keeping inflation below the bank's 4.5% mandate. Tombini also says the bank will continue buying dollars to combat the real's rise, +9.2% YTD.
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  • Feb. 20, 2012, 9:58 AM
    Brazilian banks increased their provisions against bad debt by 21% last year to 115B reais ($67.3B). With pressure increasing on borrowers, Brazilian families are now spending about half of their incomes to service debt, with the highest default rates among so-called "Class A" consumers, higher-income individuals perceived as having the lowest risk of default.
  • Feb. 10, 2012, 3:10 PM
    Brazil's consumer prices rise 0.56% in January, the fastest pace in 9 months. The annualized rate slowed to 6.22%. "The economic slowdown didn't affect inflation ... there's strong inertia," says economist Solange Srour. Still, traders are maintaining bets of a 50 basis point cut in rates at the central bank's March meeting. EWZ -2.6%.
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  • 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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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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