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iShares MSCI Brazil Capped ETF (EWZ)

- NYSEARCA
  • Oct. 30, 2014, 9:28 AM
    • The central bank had been expected to leave policy unchanged, but instead last night hiked the benchmark Selic rate by 25 bps to 11.25%. The move comes following the re-election of Dilma Rousseff, which rattled Brazilian markets.
    • "Very well done," says Goldman's Alberto Ramos. "This definitely is a great step forward to rebuild the credibility of the inflation-targeting regime ... This is market friendly."
    • The Bovespa is higher by 2% in the early going. EWZ +3.2% premarket
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 3 Comments
  • Oct. 29, 2014, 3:15 AM
    • In line with an earlier statement from Moody's saying it is in no rush to decide whether to cut Brazil's rating, newly re-elected President Dilma Roussef affirmed that the country will avoid a downgrade in her second term, and that the economy will recover.
    • Brazil currently stands two notches into investment-grade zone for Moody's and Fitch, although Standard & Poor's previously cut the government's debt to near-junk level.
    • Meanwhile, Brazil's central bank will likely keep interest rates steady for a fourth straight time today, holding its ground until Rousseff announces changes to economic policy.
    • ETFs: EWZ, BRZU, BZQ, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Oct. 28, 2014, 2:24 PM
    • "I think we'd be crazy not to," says Jim Chanos, still short Brazil, but taking some profits after a near 20% dive in the Bovespa over the last couple of months which may or may not have had its denouement in yesterday's post-election plunge.
    • Among the individual names Chanos had in the past talked about being short were Petrobas (PBR +4.3%) and Vale (VALE +0.6%), from which the Bovespa is heavily weighted. The two combine to represent about 8% of the assets in the iShares MSCI Brazil Capped ETF (EWZ +5.6%).
    • "I think a lot of [Rousseff's reelection] is priced in already now," says Chanos.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Oct. 27, 2014, 7:08 PM
    • If Goldman's new forecast for Brent crude oil prices of $85 in 2015 and ~$90 in the long term proves correct, it would be a big problem for Petrobras (NYSE:PBR), since it has sunk tens of billions of borrowed dollars into development of barrels for future production, Heard On The Street's Liam Denning writes, noting that Morgan Stanley estimates marginal costs on Brazilian fields range from ~$75/bbl to more than $100.
    • While lower global oil prices should alleviate some of PBR’s downstream losses, the net effect is still negative; UBS estimates that even including some benefits, a Brent price of $80-$90 cuts the company’s net asset value by 20%-40%.
    • Lower long-term oil price assumptions also could reduce the incentive to develop new fields; IEA projections for Brazil to contribute 16% of the growth in non-OPEC oil production during 2013-20 may now have to come down, which would add yet another headwind to Brazil’s economy.
    • ETFs: EWZ, BRZU, BZQ, UBR, BRZS, DBBR, FBZ
    | 4 Comments
  • Oct. 27, 2014, 10:31 AM
    • It's an ugly open for Petrobras (PBR -14.2%) following Pres. Rousseff's re-election as Brazil's president, as hopes are dashed for a regime change that might have helped investor confidence in the country and the company.
    • Rousseff's victory "was not totally priced in yet," Loomis Sayles analyst Bianca Taylor says, adding that she expects a slump in Brazil assets as a whole in the next few days.
    • PBR and state-controlled utility Centrais Eletricas Brasileiras (EBR -12.3%) were the two worst performing stocks in the 834-member MSCI Emerging Markets Index this morning.
    • Also: VALE -5.9%, ITUB -6.5%, BBD -8.1%, GOL -7.6%.
    • Brazil ETFs: EWZ -6.7%, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 6 Comments
  • Oct. 27, 2014, 7:12 AM
    | Comment!
  • Oct. 26, 2014, 8:41 PM
    • Incumbent Dilma Rousseff is re-elected to a second term as Brazil's president, winning about 51% of the votes, according to the official count. It could be bad news for Brazilian stocks, or just maybe her victory was already priced in.
    • The Bovespa had been about 2014's strongest major global market through roughly August as polls showed support evaporating for Rousseff, but the index has slumped more than 15% over the past two months as a victory by her more conservative challenger Aecio Neves looked less and less likely.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • Among individual stocks: Petrobas (NYSE:PBR), Vale (NYSE:VALE), Itau Unibanco (NYSE:ITUB), Banco Bradesco (NYSE:BBD), Gol Linhas (NYSE:GOL).
    • Broad Latin American ETFs: ILF, LBJ, GML, EEML, FLN
    | 8 Comments
  • Oct. 24, 2014, 4:14 PM
    | 1 Comment
  • Oct. 24, 2014, 11:11 AM
    • An outlier of a poll shows opposition candidate Aecio Neves with a sizable (though shrinking) lead over President Dilma Rousseff. Other polls have consistently shown Rousseff with a lead of six to eight percentage points. Still to come is big debate between the two contenders tonight. The election is on Sunday.
    • The credibility of opinion polling is somewhat suspect in Brazil, with different surveys showing wildly different results, not to mention all the major pollsters failing to capture the extent of Neves' support ahead of the first round of elections earlier this month.
    • The Bovespa is up 3.6%. EWZ +5.3%
    • Petrobas (PBR +6.3%), Vale (VALE +4.4%), Itau Unibanco (ITUB +6.1%), Banco Bradesco (BBD +5.5%), Gol Linhas (GOL +6.6%)
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • The iShares S&P Latin America 40 (ILF +3%)
    • Broad South American ETFs: ILF, LBJ, GML, EEML, FLN
    | 3 Comments
  • Oct. 16, 2014, 3:26 PM
    • The latest poll from overnight continues to show the challenger (and market favorite) Aecio Neves ahead by two points, but Rousseff's approval ratings improved and Neves' rejection numbers increased, notes Eurasia Group, "suggesting that while voter intentions remained constant the president’s campaign is gaining some momentum."
    • The data reinforces the agency's feeling that Rousseff has a 60% probability of winning re-election on October 26.
    • The Bovespa is lower by 2.8%. EWZ -3.4%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • Oct. 13, 2014, 11:30 AM
    • Presidential challenger Aecio Neves over the weekend received the endorsement of Marina Silva - the 3rd-place finisher in the first election round - and the latest poll shows Neves outgunning incumbent Dilma Rousseff by 52.4% to 36.7%.
    • The runoff election is set for October 26.
    • The Bovespa is soaring, up 4.4%, led by Petrobas (PBR +9%), Vale (VALE +5.2%), GOL Linhas Aereas (GOL +6.4%), Banco Bradesco (BBD +8.8%), and Itau Unibanco (ITUB +8.7%).
    • The iShares MSCI Brazil Index (EWZ +5.1%).
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    • The iShares S&P Latin America 40 Index (ILF +3.7%).
    • Broad South American ETFs: ILF, LBJ, GML, EEML, FLN
    | 7 Comments
  • Oct. 7, 2014, 2:22 PM
    • Petrobras (PBR +7.1%) and other Brazilian stocks continue to climb higher after Sunday's presidential election resulted in pro-business candidate Aeceo Neves showing surprising strength in making the runoff against incumbent Pres. Rousseff.
    • Also: CIG +9.3%, EBR.B +3.9%, ELP +3.2%, EWZ +2.4%, BBD +2%, VALE +1.8%, ITUB +1.8%.
    • Separately, PBR says its latest well in the Brigadeiro discovery evaluation plan area has confirmed the presence of good quality oil in the ultradeep waters of the Espirito Santo Basin post-salt deposits.
    • PBR, with an 89.9% stake, is the operator of the consortium developing the project.
    | Comment!
  • Oct. 6, 2014, 7:03 AM
    • The iShares MSCI Brazil Index ETF (NYSEARCA:EWZ) is ahead by 6.7% premarket after President Dilma Rousseff pulls in just 42% of the vote in Brazil's 3-way election, and her more-conservative challenger Aecio Neves gets 34%, well ahead of the 26% support he saw in the most recent pre-election poll.
    • Finishing in 3rd place is Marina Silva with 21% of the votes.
    • Brazilian stocks have been rallying all year on hope Rousseff was set to be tossed, but lately have given back some gains on worry she might in fact win another term.
    • The runoff election will be on October 26.
    • Petrobas (NYSE:PBR+14.5%, Vale (NYSE:VALE+3.5%, Itau Unibanco (NYSE:ITUB+1.6%, Banco Bradesco (NYSE:BBD+3.9% premarket
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | 17 Comments
  • Oct. 6, 2014, 3:33 AM
    • Brazil’s presidential race is headed to another round after leftist President Dilma Rousseff won the most votes on Sunday but failed to clinch the majority she needed to win a second term outright.
    • Rousseff will face the more conservative Aecio Neves in a runoff on Oct. 26.
    • Marina Silva, the prominent environmentalist who recently led opinion polls but saw her support collapse late in the campaign, won only 21% of the vote, compared to Rousseff's 42% and Neves' 34%.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Oct. 3, 2014, 4:18 PM
    | Comment!
  • Oct. 1, 2014, 10:41 AM
    • Brazil's manufacturing PMI slipped to 49.3 in September from August 50.2. New orders fell for the fifth time in six months, with the rate of contraction the fastest since May, and input and output prices fell simultaneously for the first time since August 2009.
    • It's the fifth time the PMI has slipped into contraction territory in 2014.
    • The Bovespa is lower by 1.2%. EWZ -1.5%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRZU, BRAQ, BZQ, BRAZ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
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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”).
See more details on sponsor's website
Country: Brazil
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