|Day's Range||75,632.8125 - 76,816.8438|
|52 Week Range||68,514.0000 - 88,318.0000|
The iShares MSCI Brazil exchange-traded fund (EWZ) surges 12.6 percent in July, posting its first positive month since January. "There is an improvement in risk sentiment across emerging markets and Brazil is piggybacking off of that," says Peter Donisanu, investment strategy analyst at Wells Fargo Investment Institute. Donisanu notes that recent easing of trade tensions between the U.S. and some of its key partners improved sentiment around emerging markets and Brazil.
The iShares MSCI Emerging Markets exchange-traded fund (EEM) is down more than 7 percent for the year as trade tensions between the world's largest economies intesify. Among the biggest decliners in emerging markets were Argentine, Turkish, Brazilian and Chinese shares. “This really resulted from the escalation in trade tensions on multiple fronts,” says one analyst.
A sharp drop in Brazilian stocks and its currency stoked a decline in emerging-market assets Thursday, as concerns over trade tensions and a rising dollar reverberated around the world. Brazil’s Bovespa index fell 3% to its lowest level of the year and the dollar rose 1.4% against the Brazilian real to 3.9076, its highest value since early 2016. A host of other emerging markets, including South Africa, Mexico and Russia also notched big drops in their stocks or currencies.
Treasury yields swung lower on Wednesday after trading higher in the morning. The 10-year Treasury note yield was down 5.5 basis points to 2.920%, while the 2-year note yield fell 3.2 basis points to 2.488%. The 30-year bond yield slipped 5.9 basis points to 3.070%.
Brazilian stocks jumped on Thursday after a court ruled that former president Luiz Inacio Lula da Silva can be sent to prison while he appeals a corruption conviction.