Brazil Economy Gaining Steam: ETFs in Focus
Brazil stocks have been rallying since Bolsonaro’s presidential victory in October last year. The most popular Brazilian ETF, iShares MSCI Brazil ETF EWZ rose 13.3% in the fourth quarter of 2018. Brazil’s Bovespa index gained about 10.8% in the same time frame. Jair Bolsonaro was sworn in as Brazil’s president on Jan 1.
EWZ has continued its strong run this year by returning 12.5% in the year-to-date time frame (as of Jan 9). This indicates market participants faith in the newly elected president’s ambitious agenda.
By Zacks Equity Research via Nasdaq