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ProShares Ultra MSCI Brazil Capped ETF (UBR)

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  • Sep. 16, 2014, 12:14 PM
    • "Investors are watching election polls very closely, and people are betting that Dilma’s support is losing momentum," says one fund manager as the Bovespa jumps 3.5%. The latest polls suggest opposition candidate Marina Silva has a 70% chance of winning, says Nomura's Tony Volpon.
    • Individual names: Petrobas (PBR +8.1%), Vale (VALE +1.5%) - even amid the "End of the Iron Age", Itau Unibanco (ITUB +5.6%).
    • The iShares Brazil MSCI Index (EWZ +4%).
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    • The iShares S&P LatAM 40 Index (ILF +3.1%)
    • Broad LatAm ETFs: ILF, LBJ, GML, EEML, FLN
    • Broad emerging markets: EEM +1.5%, VWO +1.6%
    | Comment!
  • Sep. 15, 2014, 11:29 AM
    • Marina Silva has a better than 50% chance of defeating incumbent Dilma Rousseff in the presidential election, says Brown Brothers Harriman after last week's boost in the polls for Rousseff sent the Bovespa lower by 6%.
    • Fluctuations in the polls at the moment aren't a big deal because the first round of elections won't produce a winner. Instead, the election will be decided in the 2nd round (October 26). "We prefer to fade the first round volatility and position for the second round dynamics."
    • Bouncing a little from last week, the Bovespa is higher by 0.6% this morning. EWZ +0.25%.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Sep. 11, 2014, 3:36 PM
    • We have been adding to our Brazilian exposure and in particular have been buying Brazilian state-owned enterprises where the outlook is improving and they are priced at deep discounts to their intrinsic value,” says Santander Asset Management's Dipak Chouhan.
    • The Santander Acciones Latinoamerica Fund  - the best performing mutual fund covering that region with a 29% gain YTD vs. the MSCI LatAm Index up 9.4% - has added Petrobas (PBR +1.7%), and increased stakes in Itau Unibanco (ITUB +0.1%), and Estacio Participacoes (OTCPK:ECPCY +0.2%).
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    • The fund is also liking Mexico, seeing opportunity and stronger growth amid the opening of the energy market. It's boosted holdings of Alsea (OTC:ALSSF) and Cemex (CX -0.1%), while cutting its stake in Wal-Mart Mexico (OTCQX:WMMVY -0.5%).
    • Mexico ETFs: EWW, UMX, SMK, DBMX
    | Comment!
  • Sep. 9, 2014, 10:37 AM
    • The outlook for Brazil's Baa2 government bond rating is cut to Negative from Stable at Moody's, which notes sustained low growth and worsening debt metrics as suggesting the need for a credit downgrade.
    • Alongside those two factors, says Moody's, is "a marked deterioration in investor sentiment which has negatively impacted fixed capital formation."
    • The Bovespa is lower by 0.25% in early action.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ, BZF
    | Comment!
  • Sep. 2, 2014, 9:47 AM
    • The HSBC Brazil PMI improved to 50.2 in August from 49.1 in July, "consistent with a fractional improvement in business conditions."
    • HSBC's chief Brazil economist Andre Loes suggests the August gain may have been a rebound following the economic disruption caused by the World Cup. It's the first reading in expansion territory since March.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Aug. 20, 2014, 3:19 PM
    • For the second time in three weeks, the Central Bank of Brazil injects billions into the banking system as the government grasps for ways to boost the slumping economy ahead of October elections.
    • "It is hoped that the measures will improve small businesses’ access to credit and strengthen foreign trade,” says the bank.
    • Analysts doubt the moves will do a whole lot as the issue, they say, isn't liquidity in the system - there's plenty of that - but that banks are unwilling to lend and borrowers are reluctant to borrow. "No one knows who is going to be president so if you are a businessman why not just wait until November," says Nomura economist Tony Volpon.
    • The Bovespa is ahead 0.5% today.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Aug. 13, 2014, 11:59 AM
    • A private jet carrying Eduardo Campos has crashed, with local TV reporting the presidential candidate was killed.
    • Up earlier in the session, the Bovespa is now lower by 1.3%.
    • Campos was running third in the polls with less than 10%, but his exit from the race is likely to boost current President Rousseff's chances of re-election. Brazilian stocks have been among the strongest globally this year amid optimism Rousseff would fall to her more business-friendly challenger Aecio Neves.
    • EWZ -1.1%. VALE -1.8%, PBR -1.7%
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | 12 Comments
  • Aug. 12, 2014, 2:29 AM
    • The EU is planning to hold talks with Latin American countries to dissuade them of becoming the replacement for Europe’s banned agricultural exports to Russia.
    • EU officials have stated goals of "seeking...a united international front on Ukraine" and to talk to countries that would potentially replace EU exports "to indicate that we would expect them not to profit unfairly from the current situation."
    • Russia has already been courting Latin America for alternative supplies. Brazil has authorized about 90 new meat plants to immediately start exporting chicken, beef and pork to Russia, while Chile is expected to be the replacement for Russia’s embargo on European fish.
    • ETFs: EWZ, RSX, ECH, RUSL, RSXJ, ERUS, RUSS, EU, RBL, BRAQ, BRZU, GUR, BZQ, ESR, UBR, BRZS, DBBR, RUDR, FBZ
    | 7 Comments
  • Jul. 17, 2014, 3:27 AM
    • The IMF praised the formation of the New Development Bank and reserves fund launched by BRICS countries (Brazil, Russia, India, China and South Africa) yesterday, and announced that it would like to work together with the monumental project.
    • So far the new fund has pooled together $100B in reserves from the five countries with the intention of reshaping the Western-dominated international financial system.
    • ETFs: EWZ, RSX, EPI, INDY, RUSL, PIN, EZA, INP, INDL, RSXJ, ERUS, RUSS, DSUM, CHIX, INXX, INDA, RBL, BRZU, BZQ, UBR, BRZS, DBBR, CHLC, FBZ, RUDR
    | 1 Comment
  • Jul. 16, 2014, 3:58 AM
    • The long-awaited New Development Bank has been launched after BRICS (Brazil, Russia, India, China and South Africa) leaders put their finishing touches on the $100B bank and currency reserve pool aimed at reshaping the Western-dominated international financial system centered around the IMF and World Bank.
    • The launch marks the first big accomplishment by BRICS countries, which account for almost half the world's population.
    • The bank is scheduled to start lending in 2016. Membership is open to other countries but the capital share of the BRICS cannot fall under 55%.
    • ETFs: EWZ, RSX, EPI, INDY, RUSL, PIN, EZA, INP, INDL, RSXJ, ERUS, RUSS, DSUM, CHIX, INXX, INDA, RBL, BRZU, BZQ, UBR, BRZS, DBBR, CHLC, FBZ, RUDR
    | 4 Comments
  • Jun. 30, 2014, 10:46 AM
    • The central bank's weekly survey of 100 economists finds them cutting their GDP growth estimate this year to 1.1% from 1.16%, and the 2015 outlook to 1.5% from 1.6%. It's the fifth straight reduction in 2014 prospects and the sixth straight for 2015.
    • At the same time, inflation forecasts remain locked in at 6.46% this year and 6.1% in 2015.
    • The benchmark Selic interest rate is still expected to be 11% at the end of this year and 12% at the end of 2015 (it's 11% currently).
    • One of the globe's hot performers from February through mid-June (as markets anticipated the end of central bank rate hikes), the Bovespa has taken a little bit of a breather since the World Cup got underway. EWZ -0.6% in morning action.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • Jun. 6, 2014, 10:53 AM
    • The Bovespa has its tail in the air to the tune of 2.6% after another dip in support for President Dilma Rousseff to 34% from 37%.
    • Opposition candidates, however, also saw their support drop, bringing the number of voters without a preferred candidate to its highest pre-election percentage in 25 years. Still, the opposition combined is now polling higher than the president
    • EWZ +3.4%, and the banks: ITUB +4.4%, BSBR +1.9%, BBD +4.5%
    • ETFs: EWZ, BRXX, BRAQ, BRZU, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | 15 Comments
  • Jun. 2, 2014, 9:52 AM
    • May's 48.8 slides from 49.3 in April, and marks the 2nd consecutive month in contraction territory for the Manufacturing PMI.
    • Investment goods was the worst-performing category, and the drop in production was the largest decline in more than two-and-a-half years . "Anecdotal evidence highlighted an increasingly difficult economic climate."
    • The Bovespa is up 1% in early action, with buyers perhaps cheered by more news arguing for easier monetary policy.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
  • May. 28, 2014, 8:43 AM
    • Buy Brazil, says Goldman, predicting that country's soccer team will win the World Cup and noting the victorious country's stock market historically outperforms global equities by 3.5% in the first month after the win.
    • "Enjoy the gains while they last," though, says Goldman's Peter Oppenheimer, noting the outperformance quickly fades.
    • The Bovespa has fallen 7% Y/Y, though it's been one of the stronger equity markets globally over the past two-three months. The matches begin on June 12.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | 4 Comments
  • May. 12, 2014, 2:32 PM
    • Brazil's on the move higher again, up 1.6% on the session, helped by release of a central bank survey showing economists cutting their inflation forecast 11 basis points to 6.39% while hiking their GDP growth estimates six bps to an average 1.69%. The central bank has hiked rates for nine straight meetings, bringing the benchmark Selic rate to 11%, and the hope is May will see a pause in the cycle.
    • Also at work in the rally are hopes President Rousseff may not gain reelection in the fall, but JPMorgan isn't so sure. "We believe May will show stability in the polls ... the President will have her own TV appearances, which together with the announcements on higher social spending on Labor Day, should stabilize her ratings, while the opposition will have limited room to make the news cycle."
    • EWZ is up about 25% since mid-March.
    • Morgan Stanley continues to fight the tape, remaining underweight the country amid what it expects will be slowing growth, continued upward pressure on rates, and more weakness in the real. The team notes it's not seeing the quick narrowing in the current account deficit associated with big rallies in Indonesia and India.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRZU, BRAZ, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | 1 Comment
  • May. 5, 2014, 12:26 PM
    • Leading off the 2014 Ira Sohn conference, Fortress Investment Group's (FIG -0.8%) Mike Novogratz says it's a pretty challenging macro environment without many great themes. One he does like though, is Brazil, where - after four tough years - business confidence is low, consumers are levered up, the government is fiscally stretched, and inflation is high ... "It's so bad, it's good."
    • One caveat would be the fall re-election of Dilma Rousseff, he says, and the country is in for a "long, long dark period" if she pulls it off (her numbers though, seem to be sliding on a near-daily basis).
    • Perhaps anticipating a Rousseff defeat, not to mention the end of a long rate-hike cycle, the Bovespa has been maybe the strongest reasonably-sized market on the planet of late, up almost 20% since mid-March.
    • ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BRZU, BZQ, BRAF, UBR, BRZS, DBBR, FBZ
    | Comment!
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UBR Description
ProShares Ultra MSCI Brazil Capped seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the MSCI Brazil 25/50 Index®.
See more details on sponsor's website
Country: Brazil
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