|Bid||14.33 x 800|
|Ask||24.02 x 800|
|Day's Range||15.55 - 15.92|
|52 Week Range||10.92 - 18.14|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.15|
|Expense Ratio (net)||0.59%|
The election of the polarizing Jair Bolsonaro was the message Brazilian voters communicated to the world that anti-establishment was in and traditional politics was out. Brazilian voters went to the polls last Sunday and the far-right candidate Bolsonaro emerged as the victor, racking up 55% of the votes to win the presidency of the largest country in Latin America after beating out leftist Fernando Haddad. Bolsonaro's runoff-election victory came after the first round saw him take the early lead with a better-than-expected 46.7% of the votes, while Fernando Haddad came in second with 28.5%. Bolsonaro is inheriting a bevy of problems he must address during the course of his presidency and the faith of Brazil's populace will hinge upon his success. Of course, Bolsonario's biggest task is to help extract the country from its current economic doldrums, but his election is perceived by market experts as one that leans toward the benefit of the country's capital markets.
Brazil ETFs surge after the victory of investor-preferred far-right candidate Jair Bolsonaro in the recently contested first round of election.
Brazil has been attracting investor attention for several years. It is an emerging market economy, and as a BRIC (Brazil, Russia, India and China) country it has been producing stellar results for investors who are willing to take on some additional risks.
Brazil ETFs brushed off the broader market weakness and surged back above their trend lines after far-right presidential candidate Jair Bolsonaro took the lead in the first round of votes. Among the best performing ETFs of Monday, the iShares MSCI Brazil Capped ETF (EWZ) increased 6.1% and broke above its long-term resistance at the 200-day simple moving average. The Direxion Daily MSCI Brazil Bull 3X Shares seeks daily investment results, before fees and expenses, of 300% of the performance of the MSCI Brazil 25/50 Index.
The Direxion Daily MSCI Brazil Bull 3X ETF (BRZU) jumped by 4.54% as of 2:45 p.m. ET as the country's presidential election looms, which will heavily impact the Brazilian markets and its economy moving forward. Brazil's presidential election is a tight one that features five candidates with no clear-cut favorite--Jair Bolsonaro of the Social Liberal Party, Ciro Gomes of the Democratic Labor Party, Geraldo Alckmin of the Brazilian Social Democratic Party and Fernando Haddad of the Workers' Party. "The outcome will be very important from a macro perspective because it will determine the policy path moving forward," said Alberto Ramos, head of Latin American economics at Goldman Sachs.
Brazilian stocks and Brazil ETFs were leading the charge Friday after several parties began to support center-right presidential candidate Geraldo Alckmin in the upcoming election. The iShares MSCI Brazil ...
Brazil ETFs rebounded Friday after the previous session's steep selling as bargain hunters look to an oversold market. On Friday, the iShares MSCI Brazil Capped ETF (EWZ) rose 4.0%, VanEck Vectors Brazil Small-Cap ETF (BRF) gained 4.2% and iShares MSCI Brazil Small-Cap ETF (EWZS) increased 4.8%. Technical traders may have also noticed that three funds were also trading in oversold territory as indicated by the Relative Strength Index, with EWZ down as much as 8% Thursday, its worst daily fall since May 2017, according to FactSet data.
The impact that Odebrecht has had on the business and political climates of many nations around the world is difficult to overstate. Unfortunately, the Brazilian construction company that grew into an international behemoth has become synonymous with bribery, corruption and scandal, prompting waves of protest around the globe. According to Business Insider, the company used various illicit practices to secure roughly 100 projects in 12 countries, ending up with about $3.3 billion in ill-gotten gains in the process.
After showing huge contractions in recent years, Brazil’s economy has been recovering gradually since 1Q17. The Brazilian economy grew at an annualized rate of 2.1% in 4Q17 compared to 1.4% in 3Q17. The country’s overall economic growth rose 1% in 2017 compared to its contraction of -2.2% in 2016.
The iShares MSCI Brazil Capped ETF (NYSEArca: EWZ), the largest exchange traded fund tracking Brazilian equities, is up 17% this year. On its own, that is an impressive showing, but one made all the more ...