Americas ETP News
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US Debt Hits $15 Trillion; Will Super Committee Save Us?
November 17, 2011--The U.S. national debt hit a record $15 trillion on Wednesday, the Treasury Department said, but at this point, any penny higher than the $14.3 trillion that forced Congress to a made-for-Jersey Shore debt ceiling debate in the summer is going to be a record breaker.
Congress raised the debt ceiling to $15.2 trillion on Aug. 2 after much hand ringing over National Public Radio and tax cuts for wealthy Americans
Judging by the roughly six months it took the U.S. to add just $700 billion to the debt, it is likely that the U.S. will hit the debt ceiling again by the summer of 2012, just in time for a new round of political follies as presidential campaign season goes into overdrive.
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Source: Forbes
Van Eck files with the SEC
November 17, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors European Currency High Yield Bond ETF.
view filing
Source: SEC.gov
Pimco files with th SEC
November 17, 2011--Pimco has filed a post-effective amendment, registration with the SEC.
view filing
Source: SEC.gov
Dow Jones Indexes to License Dow Jones Canada High Dividend 50 Index to Matrix Funds Management for Matrix Dow Jones Canada High Dividend 50 Fund
Dow Jones Canada High Dividend 50 Index to Measure High Dividend-Paying Canadian Stocks and Income Trust Units
New Index Represents a Benchmark for High-Yield in the Canadian Market
November 17, 2011— Dow Jones Indexes today announced that Matrix Funds Management has licensed the new Dow Jones Canada High Dividend 50 Index to underlie the Matrix Dow Jones Canada High Dividend 50 Fund. This open-end mutual fund was launched today by Matrix Funds Management.
The Dow Jones Canada High Dividend 50 Index, which was also launched today, couples a high-yield element counterbalanced with fundamentals-based factors that aim to target quality Canadian stocks and income trust units. The new index is designed to be the benchmark for high-yield equities in Canada.
“The Dow Jones Canada High Dividend 50 Index, with stock and income trust components selected for their fundamental strength relative to peers, clearly represents a benchmark for high yield in the Canadian market,” said Michael A. Petronella, President of Dow Jones Indexes. “And, with Matrix Funds Management’s decision to use this new index as the underlying gauge for its Matrix Dow Jones Canada High Dividend 50 Fund, Dow Jones Indexes continues to enhance its global brand as one with a long track record of creating reliable, rules-based market-measurement tools.”
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Source: Dow Jones Indexes
Guggenheim Partners Is Said to Hire Bankers for Sale of Claymore ETF Unit
November 17, 2011--Guggenheim Partners LLC is seeking buyers for Claymore Investments, the Canadian provider of exchange-traded funds it acquired two years ago, said people with knowledge of the matter.
Guggenheim hired JPMorgan Chase & Co. and Royal Bank of Canada to find buyers, said the people, who spoke on condition of anonymity because the effort is private. The unit, which had $6.8 billion of assets under management as of Oct. 31, may fetch several hundred million dollars in a sale, the people said.
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Source: Bloomberg
iShares Launches International Preferred Stock ETF (IPFF)
November 17, 2011--iShares, the issuer behind the most popular product in the Preferred Stock ETFdb Category, debuted an international counterpart to PFF this week. The recently-launched S&P International Preferred Stock ETF (IPFF) will be linked to an index consisting of preferred stock from ex-U.S. developed market issuers, with a hefty allocation to Canadian banks.
IPFF becomes the sixth U.S.-listed ETF to tap into this asset class, and just the second to offer access to preferred securities offered in developed markets outside the U.S.
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Source: Yahoo Finance
iShares files with the SEC
November 16, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares MSCI Global Silver Miners Fund.
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Source: SEC.gov
Opening Remarks of Chairman William A. Reinsch
November 16, 2011--Good morning and thank you for joining us today. My name is Bill Reinsch. I am the chairman of the U.S. China Economic and Security Review Commission. I am joined by Dan Slane, the vice chairman.
This year marks a milestone in the relations between the United States and the People’s Republic of China. It has been ten years since China officially joined the World Trade Organization. By doing so, China agreed in December 2001 to a schedule of trade liberalization.
In return, the United States agreed to provide Most Favored Nation status to China, just as it does for all members of the WTO.
China committed itself to undergo 10 years of annual progress reports from the World Trade Organization and to respond to questions from member states. That requirement ends this year. This transition period was based on the expectation that China would implement its WTO commitments, but the U.S. and other member states wanted a process that would permit Chinese progress to be examined closely and which would provide an opportunity for dialogue if commitments were not being honored.
view the U.S.-China Economic and Security Review Commission 2011 Annual Report
Source: USCC.gov
AdvisorShares files with the SEC
November 16, 2011--AdvisorShares has filed a post-effective amendment No. 41 , registration statement with the SEC. This filing relates solely to the Dent Tactical ETF, WCM/BNY Mellon Focused Growth ADR ETF, Mars Hill Global Relative Value ETF, Peritus High Yield ETF, Cambria Global Tactical ETF, and Active Bear ETF.
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Source: SEC.gov
AdvisorShares files with the SEC
November 16, 2011--AdvisorShares has filed a post-effective amendment No. 40, registration statement with the SEC for the STAR Global Buy-Write ETF.
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Source: SEC.gov
