ETF of the Week: iShares MSCI Brazil Capped ETF (EWZ)
Bolsonaro fulfilled his campaign trail promises among the farming community, declaring that indigenous land claims would be decided by the Agriculture Ministry. This boon for the powerful agribusiness sector also enraged environmentalists whom were worried about further loosening protections of the Amazon rainforest and the country’s withdrawal from the Paris Agreement on climate change.
“Bolsonaro is considered a market friendly, notwithstanding his right-leaning social and environmental policy stances and controversial comments during his campaign, which should help boost confidence and foreign direct investment or FDI,” reports MarketWatch.
Year-to-date, investors have added $147.36 million to EWZ.
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