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G20 summit in Rio: Lula enhances Brazil’s international reputation

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From 18 to 19 November 2024, Brazil will host the G20 summit in Rio for the first time as the focus of the world's most important platform for global economic cooperation.

From 18 to 19 November 2024, Brazil will host the G20 summit in Rio for the first time as the focus of the world’s most important platform for global economic cooperation.

The coalition, which includes the USA, China, India, the E U and, most recently, the African Union, represents the world’s most important economies, which, according to OECD figures, account for around 80 per cent of global gross domestic product, 75 per cent of world trade and two thirds of the world’s population.

Since Brazilian President Luiz Inácio Lula da Silva (Lula) took up his third uninterrupted term of office at the beginning of 2023, he has spent a lot of time abroad to improve his country’s image in the world. His efforts could pay off. A recent Pew Research survey found that most Brazilian adults are optimistic about their country’s status as an international power.

In addition to the G20, Brazil is also set to host other high-profile events such as the UN Climate Change Conference (COP30) and the BRICS summit (Brazil, Russia, India, China and South Africa) in 2025, while also seeking membership of the Organisation for Economic Co-operation and Development (OECD).

In the almost three years since Brazil initiated its formal accession process for OECD membership, the country has achieved many milestones on the road to this goal. If successful, Brazil would be in a unique position to influence the increasing geopolitical and economic competition between industrialised and developing countries, as it is the only country to be represented in the BRICS, the G20 and the OECD simultaneously.

As the eighth largest economy in the world and the largest economy in Latin America, Brazil could be a strong link in the global discourse on key issues for the Global South (according to UN Trade and Development, the Global South essentially comprises Africa, Latin America and the Caribbean, Asia excluding Israel, Japan and South Korea, and Oceania excluding Australia and New Zealand).

These issues include, above all, the fight against hunger, poverty and inequality, sustainable development and the reform of global governance. If Brazil is able to achieve political and financial commitments to progress on priorities such as digital infrastructure, this could lead not only to an increase in Brazil’s GDP, but also to a narrowing of the economic and urban-rural divide and a reduction in gender inequality. Consider that the introduction of a relatively new instant money transfer platform operated by the central bank, known as Pix, has already promoted financial inclusion and increased access to banking services from around 70 per cent of the population to more than 84 per cent (source: Carnegie Endowment for International Peace).

We expect that an OECD seal of approval for Brazil will also encourage global investors seeking the assurance of the Coalition’s high standards for the ease of doing business. A seat at the table would give Brazil a stronger voice in shaping best practices and global frameworks for rapidly evolving technology standards. Brazilian companies specialising in artificial intelligence and financial technology are already among the largest in South America.

As the largest oil producer in Latin America, resource-rich Brazil is a leader in the energy sector, as it is one of the ten largest oil producers in the world (according to the U.S. Energy Information Administration, Brazil produced 4 per cent of the world’s total oil production at the end of 2023). However, the country’s largest sector is finance, with a weighting of more than 36 per cent according to the MSCI Brazil Index.

Central bank in interest rate hike mode

High government spending continues to be a major problem. In our opinion, any reduction in this spending would give the country’s capital markets cause for optimism. Meanwhile, Brazil is an exception to the global trend of falling interest rates: In September, Brazil’s central bank raised interest rates to curb inflationary pressures. The market expects the Brazilian real to remain stable or appreciate slightly in the near future, partly due to falling US interest rates. We see this as a potential advantage for foreign investors in Brazil.

It is also encouraging to see that progress is being made on Brazil’s long-awaited VAT reform, which could further boost the private sector as efficiency gains from a simpler tax system would favour investment.

Growth in Brazil’s manufacturing and services sectors accelerated in September as output in both sectors increased, indicating strong growth in economic activity. In addition, the Brazilian market is currently trading at valuations that we consider favourable. Improved conditions in Brazil’s manufacturing sector have been driven by a resurgence in production, stronger job creation and a pick-up in sales growth, according to S&P Global. At the end of September, Brazil’s Manufacturing Purchasing Managers’ Index was surpassed only by India, rising to 53.2 (from 50.4 in August; readings above 50 indicate expansion).

Chart 1: Brazilian Purchasing Managers’ Index

Source: FactSet, Markit Economics

Expectations are also high that Brazil will experience an economic boost in 2027, having won the historic bid to host the FIFA Women’s World Cup – a first not only for Brazil, but for the whole of South America.

Over the near term, we believe investors should stay attuned to the opportunities in Brazil and may find what we consider an attractive entry point into this large and diverse market.

Chart 2: The valuations of Latin American equities look favourable

Attractive valuations compared to industrialised countries, emerging markets and own history

Chart 3: Latin American equities offer high dividends

High dividend yield compared to industrialised countries, emerging markets and own history

From Dina Ting, Head of Global Index Portfolio Management at Franklin Templeton

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WisdomTree noterar fond för kvantberäkning på Xetra

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WisdomTree Quantum Computing UCITS ETF investerar i företag som aktivt är involverade i kvantberäkning. Endast företag som specialiserar sig på kvantberäkning och uppfyller krav på börsvärde och likviditet beaktas. Vid varje ombalansering begränsas den maximala viktningen för ett enskilt företag till 15 procent. Företag som är involverade i kontroversiella vapen exkluderas.

WisdomTree Quantum Computing UCITS ETF investerar i företag som aktivt är involverade i kvantberäkning. Endast företag som specialiserar sig på kvantberäkning och uppfyller krav på börsvärde och likviditet beaktas. Vid varje ombalansering begränsas den maximala viktningen för ett enskilt företag till 15 procent. Företag som är involverade i kontroversiella vapen exkluderas.

NamnISIN
kortnamn
AvgiftUtdelnings-
policy
WisdomTree Quantum Computing UCITS ETF – USD AccIE000W8WMSL2
WQTM (EUR)
0,50%Ackumulerande

Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 530 ETFer, 203 ETCer och 278 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 25 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.

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Bitcoin is scarce. Will you get your share?

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Bitcoin is running out. Literally, out of a total 21 million coins, 3.7 million are lost forever. That leaves only 16.3 million in circulation and just 1 million left to be mined. Imagine 60 million millionaires worldwide fighting for Bitcoin: each could only get 0.28 BTC. The question is simple: do you own any Bitcoin?

Bitcoin is running out. Literally, out of a total 21 million coins, 3.7 million are lost forever. That leaves only 16.3 million in circulation and just 1 million left to be mined. Imagine 60 million millionaires worldwide fighting for Bitcoin: each could only get 0.28 BTC. The question is simple: do you own any Bitcoin?

Perps explained: How Hyperliquid and dYdX are powering the next phase of crypto trading

Perpetual futures contracts, or “perps,” let traders speculate on the future price of cryptocurrencies like Bitcoin or Ethereum without actually owning them and without any expiration date. They are rapidly gaining popularity on decentralized exchanges such as Hyperliquid and dYdX, which offer deep liquidity, seamless access, and efficient on-chain trading, making it easier than ever for users to participate in this growing market.

Meet BAM: Solana’s smart traffic controller investors can’t ignore

Think of Solana as a super-fast highway where transactions are cars, but order can get messy. Jito’s BAM acts as a smart traffic controller, organizing transactions efficiently. This major upgrade from Solana’s largest liquid staking provider improves block building, transaction sequencing, and value flow, marking a key milestone for developers, users, and SOL holders.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.

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XB32 ETF fokuserar på eurodenominerade företagsobligationer med förfall 2023

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Xtrackers II Target Maturity Sept 2032 EUR Corporate Bond UCITS ETF 1D (XB32 ETF) med ISIN LU2809864452, försöker följa Bloomberg MSCI Euro Corporate September 2032 SRI-index. Bloomberg MSCI Euro Corporate September 2032 SRI-index följer företagsobligationer denominerade i EUR. Indexet speglar inte ett konstant löptidsintervall (som är fallet med de flesta andra obligationsindex). Istället ingår endast obligationer som förfaller mellan oktober 2031 och september 2032 i indexet (denna ETF kommer att stängas i efterhand). Indexet består av ESG (environmental, social and governance) screenade företagsobligationer. Betyg: Investment Grade.

Xtrackers II Target Maturity Sept 2032 EUR Corporate Bond UCITS ETF 1D (XB32 ETF) med ISIN LU2809864452, försöker följa Bloomberg MSCI Euro Corporate September 2032 SRI-index. Bloomberg MSCI Euro Corporate September 2032 SRI-index följer företagsobligationer denominerade i EUR. Indexet speglar inte ett konstant löptidsintervall (som är fallet med de flesta andra obligationsindex). Istället ingår endast obligationer som förfaller mellan oktober 2031 och september 2032 i indexet (denna ETF kommer att stängas i efterhand). Indexet består av ESG (environmental, social and governance) screenade företagsobligationer. Betyg: Investment Grade.

Den börshandlade fondens TER (total cost ratio) uppgår till 0,12 % p.a. Xtrackers II Target Maturity Sept 2032 EUR Corporate Bond UCITS ETF 1D är den enda ETF som följer Bloomberg MSCI Euro Corporate September 2032 SRI-index. ETFen replikerar det underliggande indexets prestanda genom samplingsteknik (köper ett urval av de mest relevanta indexbeståndsdelarna). Ränteintäkterna (kupongerna) i ETFen delas ut till investerarna (Årligen).

Denna börshandlade fond lanserades den 25 september 2024 och har sin hemvist i Luxemburg.

Index nyckelfunktioner

Bloomberg MSCI Euro Corporate September 2032 SRI Index syftar till att spegla resultatet på följande marknad:

  • Endast investeringsklass
  • Euro-denominerad företagsobligationsmarknad med fast ränta
  • Obligationer med förfallodatum på eller mellan 1 oktober 2031 och 30 september 2032
  • Exklusive obligationer som inte uppfyller specifika miljö-, sociala och styrningskriterier
  • Från och med den 1 oktober 2031 kommer referensindexet även att inkludera vissa eurodenominerade statsskuldväxlar utgivna av vissa europeiska regeringar med 1 till 3 månader kvar till löptid

Handla XB32 ETF

Xtrackers II Target Maturity Sept 2032 EUR Corporate Bond UCITS ETF 1D (XB32 ETF) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra.

Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRONordnet, Aktieinvest och Avanza.

Börsnoteringar

BörsValutaKortnamn
XETRAEURXB32

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ISINNamnVikt %Land
XS2621539910HSBC HOLDINGS PLC1.77%Storbritannien
XS2705604234BANCO SANTANDER SA1.77%Spanien
FR001400DNG3BOUYGUES SA1.76%Frankrike
XS2555220941BOOKING HOLDINGS INC1.76%USA
DE000A3K5HW7JAB HOLDINGS BV1.75%Österrike
FR001400LWN3BANQUE FEDERATIVE DU CREDIT MUTUEL1.74%Frankrike
FR001400DY43ORANGE SA1.69%Frankrike
BE6350792089SOLVAY SA1.68%Belgien
FR001400OIX5BPCE SA1.67%Frankrike
XS2747610751ABN AMRO BANK NV1.67%Holland
BE0390124874KBC GROEP NV1.67%Belgien
DE000A30VJZ6ALLIANZ SE1.66%Tyskland
XS2856698126JOHN DEERE CAPITAL CORP1.66%USA
XS2823909903ILLINOIS TOOL WORKS INC1.66%USA
XS2769894135SIEMENS FINANCIERINGSMAATSCHAPPIJ1.65%Tyskland

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