With Brazilian elections five months away, Rousseff is seen as vulnerable due to her constituents’ concerns about the sturdiness of Latin America’s largest economy. A scandal involving state-controlled oil giant Petrobras (NYSE: PBR), EWZ’s largest holding, has not helped matters. [Brazil ETF Rises as Support for Rousseff Drops]
Additionally, investors have finally been putting cash back to work with EWZ. In the back half of April, EWZ has been one of the most prolific asset gatherers among single-country emerging markets ETFs, hauling in almost $318 million in new assets. [EWZ Sees Inflows]
iShares MSCI Brazil Capped ETF
Chart Courtesy: Captain John Charts
Tom Lydon’s clients own shares of EEM.