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IMF Working Paper-Understanding U.S. Inflation During the COVID Era
October 28, 2022--Summary:
This paper analyzes the dramatic rise in U.S. inflation since 2020, which we decompose into a rise in core inflation as measured by the weighted median inflation rate and deviations of headline inflation from core. We explain the rise in core with two factors, the tightening of the labor market as captured by the ratio of job vacancies to unemployment, and the pass-through into core from past shocks to headline inflation.
The headline shocks themselves are explained largely by increases in energy prices and by supply chain problems as captured by backlogs of orders for goods and services. Looking forward, we simulate the future path of inflation for alternative paths of the unemployment rate, focusing on the projections of Federal Reserve policymakers in which unemployment rises only modestly to 4.4 percent.
We find that this unemployment path returns inflation to near the Fed's target only under optimistic assumptions about both inflation expectations and the Beveridge curve relating the unemployment and vacancy rates. Under less benign assumptions about these factors, the inflation rate remains well above target unless unemployment rises by more than the Fed projects.
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Source: imf.org
Simplify Adds to Its Innovative Suite of Income-Focused ETFs With the Launch of Enhanced Income Fund (High) And Stable Income Fund
October 28, 2022--Both funds are designed to enhance portfolio yield without significant credit or duration exposure.
Simplify Asset Management ("Simplify"), an innovative provider of Exchange Traded Funds ("ETFs"), is today announcing the launch of its two newest ETFs, the latest addition to the firm's fast-growing lineup of income-generating solutions.
The Simplify Stable Income ETF (NYSE Arca: BUCK) is the firm's first cash alternative ETF and is designed to enhance typical yields on cash via an option writing strategy with low correlation to traditional credit and duration exposures. Simplify employs a sophisticated option-writing algorithm to sell spreads on the most liquid global equity indices, layering this option writing on top of short-dated Treasuries in a highly risk-controlled manner.
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Source: Simplify Asset Management Inc.
T. Rowe Price Launches New U.S. High Yield Fixed Income Exchange-Traded Fund
October 26, 2022--Firm expands fixed income ETF line-up with new U.S. High Yield ETF, which began trading today on NYSE Arca, Inc.
T. Rowe Price, a global investment management firm and a leader in retirement services, announced today the introduction of its fourth actively managed fixed income exchange-traded fund (ETF), T. Rowe Price U.S. High Yield ETF (Ticker: THYF), which is available to the public beginning today on NYSE Arca, Inc.
U.S. High Yield ETF is managed by the same investment team and uses the same process as the mutual fund T. Rowe Price U.S. High Yield Fund (TUHYX). The strategy is designed to provide a concentrated, yet balanced, portfolio primarily focused on U.S. high yield bonds, in which the fund invests in below investment-grade corporate bonds.
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Source: T. Rowe Price
First bitcoin ETF loses record amount in its initial year
October 26, 2022--BITO's 70 per cent decline suggests it has burnt through $1.2bn of investors'cash
One year after its record-breaking launch, the world's first exchange traded fund tracking the price of bitcoin has lost more of investors' dollars than any other ETF debut.
Asset manager ProShares launched its Bitcoin Strategy fund in October 2021, and it immediately became the most successful new ETF in history, amassing more than $1bn in its first week of trading on the New York Stock Exchange.view more
Source: ft.com
SEC Adopts Amendments to Modernize Fund Shareholder Reports and Promote Transparent Fee-and Expense-Related Information in Fund Advertisements
October 26, 2022--The Securities and Exchange Commission voted today to adopt rule and form amendments to require mutual funds and exchange-traded funds to transmit concise and visually engaging shareholder reports and to promote transparent and balanced presentations of fees and expenses in investment company advertisements.
"Shareholder reports are amongst the most important documents that fund investors receive," said SEC Chair Gary Gensler. "These reports, however, often are more than 100 pages in length. As a result, a retail investor looking to understand the performance, fees, and other operations of a mutual fund or exchange-traded fund may need to sift through extensive financial information. Today's final rules will require fund companies to share a concise set of materials that get to the heart of the matter.
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Source: SEC.gov
Angel Oak Capital Advisors Debuts UltraShort ETF Focused on Structured Credit Opportunities
October 25, 2022--A leading structured credit investment firm brings new short-duration investment opportunity in first ETF offering
Angel Oak Capital Advisors, an investment management firm that specializes in value-driven structured credit, is excited to announce the launch of the Angel Oak UltraShort Income ETF (NYSE: UYLD).
The firm's first exchange-traded fund, which complements its existing lineup of mutual funds and private strategies, provides investors a unique opportunity to invest in short-duration structured credit assets and cash-like instruments that seek to provide higher yield without sacrificing credit quality.
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Source: Angel Oak Capital Advisors, LLC
Thematic fund resilience and inflows confound critics
October 24, 2022--Morningstar analysis shows mainstream equity vehicles are more likely to be closed down
Niche thematic funds, often dismissed as gimmicky fads, are proving more resilient, than more mainstream funds, even as markets turn against them.
The funds - which invest in anything from clean energy and artificial intelligence to robotics and the metaverse- have higher survival rates than other equity funds, which are more likely to be closed down, according to analysis by Morningstar.
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Source: ft.com
Single-stock ETFs struggle to get past distributors
October 21, 2022--Industry executives say the inverse and leveraged products are poorly understood
Though shops have been pumping out single-stock ETFs since the first products got the regulatory stamp of approval this summer, they still have to overcome at least one hurdle, industry executives say: getting their products into the hands of investors.
Two dozen single-stock ETFs have debuted since July, according to data from FactSet Research.
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Source: ft.com
VanEck Launches Green Infrastructure ETF (RNEW) Amid Growing Focus on U.S. Infrastructure Upgrades and Sustainability
October 20, 2022--Current U.S. infrastructure is in major need of upgrades; significant investment by governments is already in motion, incentivizing green infrastructure initiatives.
Energy transition has been the early focus of investors, but there are multiple sectors within the green infrastructure space. RNEW is designed to provide diversified exposure.
VanEck today announced the launch of VanEck Green Infrastructure ETF (NASDAQ: RNEW), an equity ETF offering exposure to the leading companies that are poised to drive and benefit from increased investment in efforts to make U.S. infrastructure more "green" and sustainable.
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Source: VanEck
First Trust Launches the FT Cboe Vest Rising Dividend Achievers Target Income ETF, Targeting Income with Growth Potential
October 20, 2022--First Trust introduces its third Cboe Vest Target Income ETF designed to address the need for alternative sources of income
FT Cboe Vest Rising Dividend Achievers Target Income ETF (Cboe: RDVI) provides access to equities contained in the Nasdaq US Rising Dividend Achievers Index while also targeting annualized income
RDVI employs the partial covered call Target Income Strategy developed by Cboe Vest, utilizing weekly call options on the S&P 500 Index
First Trust Advisors L.P. ("First Trust" or "FTA"), a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched the FT Cboe Vest Rising Dividend Achievers Target Income ETF (the "fund"). RDVI is an actively managed ETF that seeks to provide investors with current income with a secondary objective of providing capital appreciation.
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Source: First Trust
