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iShares MSCI Brazil Capped ETF (EWZ)

  • Jun. 1, 2012, 9:14 AM
    Brazil's May PMI at 49.3 is unchanged from April, but remains in contraction territory, with export orders falling to their lowest level of 2012. "(The) manufacturing sector is going through a particularly difficult time, squeezed between rising costs on one side, and competition from imports on the other," says HSBC.
    | Jun. 1, 2012, 9:14 AM | Comment!
  • May 31, 2012, 12:54 PM
    "Investors appear to have thrown in the towel on Brazil," says BAML of a survey of fund managers. Fourteen percent are underweight Brazil, a sharp turnaround from a month ago when 20% were overweight. The central bank has been aggressively slashing rates - normally a green light for stocks - but investors are reading the cuts as panic moves in a stagnating economy. EWZ -31.7% Y/Y.
    | May 31, 2012, 12:54 PM | Comment!
  • May 30, 2012, 7:29 AM
    Brazil's central bank is set to cut rates for the 7th consecutive time tonight to deal with a still-slowing economy. Consensus is for a 50 basis point reduction to 8.5%. At its last policy meeting, the bank surprised with a 75 bp cut. Brazilian shares have performed about as badly as Spain's of late. EWZ -24% in the last 90 days.
    | May 30, 2012, 7:29 AM | Comment!
  • May 25, 2012, 12:55 PM
    With credit conditions worsening abroad, Brazil makes it easier for three of the country's giant firms - VALE, Petrobas (PBR), and Electrobas - to tap the state development bank for funding. Together, the three make up 25% of the Bovespa index, which is +1.3% today. EWZ +2.2%.
    | May 25, 2012, 12:55 PM | Comment!
  • May 22, 2012, 1:22 PM
    Further steps to juice its economy, Brazil announces another $1B in tax cuts and the central bank frees up about $9B in reserves in exchange for banks allowing auto loans on better terms. Perhaps disappointed with the minor measures (GDP = $2.5T), the Bovespa continues to struggle, -2.1%.
    | May 22, 2012, 1:22 PM | Comment!
  • May 18, 2012, 3:32 PM
    Brazil's economic activity index fell 0.35% in March and rose just 0.91% Y/Y, well below expectations for a 2.4% gain. The news prompted yields on interest rate futures contracts to fall to record lows as traders place bets on more policy ease from the central bank. The Bovespa outperforms today, +1.5%.
    | May 18, 2012, 3:32 PM | Comment!
  • May 17, 2012, 1:29 PM
    Remain underweight Brazil despite easier monetary policy, argues BCA, saying the nation's banks face difficulties on two fronts: Funding difficulties as EU banks delever, and deterioration of credit portfolios as delinquency rates rise even with unemployment at a record low. EWZ -8.8% YTD.
    | May 17, 2012, 1:29 PM | Comment!
  • May 17, 2012, 12:08 PM
    Mexico's Q1 GDP increased 4.6% Y/Y vs. expectations of 4.5% and from 3.9% in 2011 Q4. The strong performance of the peso this year has failed to dent manufacturing or exports, with March's trade surplus of $1.6B the highest for one month since 1985. Mexico (EWW) vs. Brazil (EWZ) this year.
    | May 17, 2012, 12:08 PM | Comment!
  • May 15, 2012, 11:23 AM
    Brazil continues aggressive fiscal and monetary ease, as President Rouseff plans to cut taxes for electricity producers and distributors. It's the latest in a series of tax cuts for industry, and officials say these will be the most aggressive yet. Thus far, the Bovespa is fighting the sell off, +0.2%.
    | May 15, 2012, 11:23 AM | 1 Comment
  • May 14, 2012, 3:16 PM
    Top Brazilian officials privately cut their forecast for 2012 economic growth to 3%, inline with private economists, and well below the government's official 4.5% forecast. They remain confident growth will bounce in H2, thanks to 350 basis points in rate cuts working through the pipeline as well as a number of expansive fiscal measures. The Bovespa today, -2.8%.
    | May 14, 2012, 3:16 PM | 2 Comments
  • May 9, 2012, 12:04 PM
    Brazilian inflation gains 0.64% in April, the biggest jump in a year, and ahead of estimates for 0.59%. The speedy move was helped by a 12.3% decline in the real over the last 3 months, but is unlikely to push the central bank off a course of further rate cuts, especially as the annual inflation rate fell to 5.1% from 5.24%. EWZ -1.6%.
    | May 9, 2012, 12:04 PM | Comment!
  • 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.
    | May 3, 2012, 8:26 AM | Comment!
  • 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%.
    | May 2, 2012, 12:06 PM | Comment!
  • 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. 27, 2012, 3:24 PM | 2 Comments
  • 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.
    | Apr. 25, 2012, 6:12 PM | Comment!
  • 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)
    | Apr. 25, 2012, 7:45 AM | 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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