BRF News and Press, VanEck Vectors Brazil Small-Cap From 11/01/22

Summary The energy transition has assumed a growing role within the strategies of oil and gas companies. Although this push began with global integrated oil companies (IOCs), the movement has gained steam among companies in our Latin American national oil companies (NOCs) peer gro...

Summary Lula claims third term as president, narrowly defeating incumbent Jair Bolsonaro. Political divides remain deep, but the government appears balanced by a newly elected pro-market Congress. Brazilian consumption is on solid footing with upbeat gross domestic product (GD...

Summary Brazil’s newly elected president, Luiz Inácio Lula da Silva will have to walk a narrow path of expenditures given the budget constraints. The country has made some important achievements in the last few years to protect itself from the likes of the Lava Jato (C...

Summary Brazilian real and Mexican peso are the only major currencies that have outperformed the strong US dollar YTD September 30, 2022. Brazilian real has benefitted from its strong exports earlier this year, thanks to the strong demand and higher commodity prices, e.g., price r...

Summary Growth dynamics surprised most of the region positively, favored by the return of services and employment to pre-pandemic levels, as well as external conditions that remained favorable until recently. The region is generally more resilient than in previous times ...

Summary Global economic output contracted for a second straight month in September, adding to signs that businesses around the world are reporting the toughest conditions outside of pandemic lockdowns since the global financial crisis. Manufacturing is being hit by rising prices, ...

Summary Over the last two weeks Federal Reserve officials delivered 37 speeches, all of the speakers competing to see who could be the most hawkish. The big problem with the Fed’s plan to kill inflation by reducing economic growth and raising the unemployment rate is that t...

Summary The first-round outcome is likely to buoy Bolsonaro, whose showing was better than polling had indicated. Lula has not specified how he would reduce Brazil's large current structural fiscal deficit or contain the expansion in public debt (78% of GDP). The high projecte...

Summary Slower global growth, a strong US dollar, global supply chain woes as well as domestic economic factors have created headwinds for EMs. The week-long National Congress of the Chinese Communist Party (Congress) begins on October 16. Jair Bolsonaro, the incumbent preside...

Summary Global equity markets outside of the United States have completed a third negative quarter, with the MSCI ACWI ex US IMI Index down 11.26% in the three months through October 30. For the year to date, this index is down 27.19%, which clearly indicates a “bear market...