FLBR

Weekly Report: what happened at FLBR last week (0415-0419)?

Weekly Report: what happened at FLBR last week (0408-0412)?

Where We Stand

Dollar Consolidates But Adjustment Is Not Over

Higher than expected US CPI for the third consecutive month drove US interest rates sharply higher and lifted the greenback broadly. The market appears to be catching its breath today, but the shallow consolidation suggests the moves are not over. The dollar has reached nearly JPY153.30. Gold fell by about $18.75 an ounce yesterday, its largest loss in about a month.

U.S. CPI, New Security Initiatives With Tokyo And Manila, Bank Of Canada Meeting

The dollar has been confined to narrow ranges ahead of the US CPI report. The Reserve Bank of New Zealand signaled that it was in no hurry to cut rates. The New Zealand dollar is leading the G10 currencies higher. The Hang Seng and the mainland companies in Asia are leading the region. Gold is consolidating in about $2345-$2360.

FLBR: Exceptional Value Threatened By Lula's Long Arm

Franklin FTSE Brazil ETF (FLBR) offers a strong value profile with a high dividend yield of 9.33% in 2023. FLBR is trading at 1.5x book value and 8x earnings. There are concerns about Brazilian President Lula's interventionist policies towards key sectors like energy and materials. Brazil is Latin America's largest economy and has had an uneven growth trajectory.

Emerging Markets Activity Expands At Fastest Pace In 10 Months

Emerging Markets Activity Expands At Fastest Pace In 10 months. Incoming new business for emerging market goods and services rose in March at the quickest pace since last May. India continues to lead growth in both the manufacturing and service sectors. In March emerging markets growth accelerated at the fastest pace since May 2024.

Weekly Report: what happened at FLBR last week (0401-0405)?