From Invesco: Just as Brazil seemed to be recovering from its worst recession in history, it took another hit last May. A secret recording surfaced of President Michel Temer allegedly discussing a scheme to pay hush money to jailed former speaker of the lower house, Eduardo Cunha.
From Zacks: Brazil’s Finance Minister Henrique Meirelles expects a lower economic growth rate for 2017. He expects the GDP to grow 2% year over year in the fourth quarter compared with the earlier estimate of 2.7%. Therefore, the full year average is expected to be slightly less than 2%.
From Mike Burnick: There has been a lot of media hype over emerging-market stocks outperforming U.S. stocks this year. And rightly so. The fact is, emerging market stocks as a whole are outperforming U.S. stocks by more than 2.5 times.
From Taki Tsaklanos: The Brazilian stock market rallied strongly between January last year and May 2017. In less than 18 months, the Brazilian stock market ETF EWZ more than doubled. This week, however, the Brazilian stock market index crashed 17 percent, making it a very significant pullback in 2017.
We thought today’s market headlines would be dominated by “Trump/Comey,” but we were wrong.
From Chris Kimble: Below looks at the iShares MSCI Brazil Index ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.
From PIMCO: Brazil is often known for soccer, samba and pristine beaches. Among investors, something else also stands out about Brazil: double-digit interest rates that are significantly higher than its peers’ (see chart). That may soon change.
Emerging Markets have taken a nice leg-up in recent sessions with EEM (iShares MSCI Emerging Markets, Expense Ratio 0.72%) for instance eclipsing $40 in the past two sessions and following through strongly this morning in early trading.
From Zacks: Brazilian stocks and ETFs have been a tear with large-cap Brazil fund iShares MSCI Brazil Capped (EWZ) adding over 100% in the last one year (as of February 14, 2017) and advancing about 17% so far this year.
We have seen some interesting upside call action as of late in the largest Brazil Equity oriented fund, the tenured EWZ (iShares MSCI Brazil Capped, Expense Ratio 0.62%, $4.2 billion in AUM).
The International Monetary Fund sent out a warning to Brazilian lawmakers yesterday, urging the new regime to make the difficult policy decisions needed to rescue the country from its deep recession.
The iShares MSCI Brazil Index ETF (NYSE:EWZ) is one of the best-performing country ETFs of 2016, and analysts added some more bullish sentiment today with an optimistic outlook on Brazil’s economy.
Brazil’s stock market has surged this year, despite spiking unemployment and a several-year-long economic depression. A Goldman Sachs analyst now notes there’s no real improvement in sight.
The iShares MSCI Brazil Index ETF (NYSE:EWZ) is seeing some unusual options activity lately, with many investors seemingly using options to hedge against a potential price pullback.
From Heidi Richardson: With the Olympic Games underway, many eyes are on Rio. Coincidentally, investors this year are similarly directing more attention to Brazil, although it is developments in the capitol, Brasilia, that are likely of greater importance.