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BlackRock New ETF Landscape: US Handbook,
November 1, 2010--This is a comprehensive directory of all 1,031 ETFs and ETPs with assets of US$813.9 Bn from 44 providers on two exchanges in the US.
This handbook is free of charge to SWFs, pension plans, insurance companies, asset managers, private banks, hedge funds, financial advisors, banks and brokerage firms to provide a central source of the key data on all ETFs and ETPs listed in the US at the beginning of September 2010 including: Bloomberg and Reuters tickers, annual TERs, total AUM, average daily volume, dividend status, fund structures, index replication method and exchange listings.
The growth in ETF listings can be explained, in large part, by strong investor demand for these types of products. The proliferation of new offerings has also made it more challenging in terms of decision-making.
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Source: Global ETF Research & Implementation Strategy Team, BlackRock
Morgan Stanley Exchange-Traded Funds-US ETF Weekly Update
November 1, 2010--Weekly Flows: $1.3 Billion Net Inflows
ETFs Traded $267 Billion Last Week-Launches: 2 New ETFs
State Street to Make Name, Ticker, Index Changes
US-Listed ETFs: Estimated Flows by Market Segment
For the ninth week in a row, ETFs generated net inflows —$1.3 bln last week
Weekly net inflows driven by FI & EM Equity ($937 mln); offset by US Small & Micro-Cap ($543 mlnnet outflows)
ETF assets stand at $930 bln; up 19% YTD
13-week flows were mostly positive among asset classes
$35.9 bln net inflows into ETFs over past 13 weeks (49% into EMEquity)
We estimate ETFs have posted net inflows 31 out of 43 weeks YTD
US-Listed ETFs: Estimated Largest Flows by Individual ETF
XLF posted net inflows of $442 mln last week, the most of any ETF
Amid questions regarding foreclosure processes, financials haveonce again garnered a great deal of attention
XLF, which consists of a number of large-cap banks, had net inflows of $442 mlnlast week
Over a 13-wk period, EM Equity ETF (VWO & EEM) has taken in most new money($11.6 bln)
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Source: ETF Research-Morgan Stanley
Emerging Markets Week in Review -10/25/2010 - 10/29/2010
November 1, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index climbed 0.34% last week and ended October up 3.73%.
The broad emerging markets index has increased in 9 of the last 10 weekly periods. The Consumer sector, the best performing group this year, continued to lead the market up, gaining 1.5% while Financials and Utilities fell by 1.25% and 0.88% respectively.
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Source: Emerging Global Advisors
Statement for theTreasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association
Alan B. Krueger -Assistant Secretary for Economic Policy & Chief Economist
November 1, 2010--The U.S. economy continues to recover from the deepest and longest recession since the end of World War II. Real GDP continues to expand, consumer spending is growing steadily at a moderate pace, business investment is rising, and firms are adding workers to their payrolls. More than 850,000 private-sector jobs, on net, have been added so far this year.
Nevertheless, the unemployment rate remains elevated at 9.6 percent. The subpar labor market performance is weighing on the housing market, which, although still weak, is generally more stable than a year ago. Conditions in financial and credit markets have improved in recent months, following an uptick in volatility related to developments in European debt markets during the spring. The improvement in the economy over the past year has led to improvement in U.S. government finances. The federal budget deficit narrowed to 8.9 percent of GDP in FY2010 from 10 percent of GDP in FY2009, and is expected shrink significantly further in the next few years as the recovery gains momentum. Private forecasters generally expect another moderate increase in real GDP in Q4, and see growth strengthening in 2011.
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Source: US Department of the Treasury
Treasury Announces Marketable Borrowing Estimates
November 1, 2010--The U.S. Department of the Treasury today announced its current estimates of net marketable borrowing for the October – December 2010 and the January – March 2011 quarters:
During the October - December 2010 quarter, Treasury expects to issue $362 billion in net marketable debt, assuming an end-of-December cash balance of $300 billion, which includes $200 billion for the Supplementary Financing Program (SFP). The borrowing estimate is $17 billion lower than announced in August 2010. The decrease in borrowing relates primarily to higher net issuances of State and Local Government Series securities and cash balance adjustments.
During the January – March 2011 quarter, Treasury expects to issue $431 billion in net marketable debt, assuming an end-of-March cash balance of $270 billion, which includes $200 for the SFP.
During the July – September 2010 quarter, Treasury issued $396 billion in net marketable debt, and finished the quarter with a cash balance of $310 billion, of which $200 billion was attributable to the SFP. In August, Treasury estimated $350 billion in net marketable borrowing and assumed an end-of-September cash balance of $270 billion, which included an SFP balance of $200 billion. The higher cash balance resulted from the additional borrowing.
Additional financing details relating to Treasury's Quarterly Refunding will be released at 9:00 a.m. on Wednesday, November 3.
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Source: U.S. Deaprtment of the Treasury
ISE Reports Monthly Volume for October 2010
November 1, 2010--The International Securities Exchange (ISE) today reported average daily volume of 2.9 million contracts in October 2010.
Average daily trading volume for all options contracts decreased 26.0% to 2.9million contracts in October
as compared to 4.0 million contracts during the same period in 2009. Total options volume for the month decreased 29.3% to 61.7 million contracts from 87.2 million contracts in the same year-ago period.
On a year-to-date basis, average daily trading volume of all options decreased 25.0% to 3.0 million
contracts traded. Total year-to-date options volume through October 2010 decreased 25.4% to 626.5
million contracts from 839.3 million contracts in the same period last year.
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Source: International Securities Exchange (ISE)
CBOE Reports October 2010 Trading Volume
October 2010 Average Daily Volume Up 14% From September 2010, Down 6% From October 2009
November 1, 2010--The Chicago Board Options Exchange (CBOE) today reported that average daily volume (ADV) in October was 4.3 million contracts.
October's ADV was a six-percent decline from the 4.6 million contracts per day in October 2009 and a 14-percent increase over September 2010 ADV of 3.8 million contracts.
Year-to-date ADV of 4.5 million contracts through October was down two percent compared with the same period in 2009.
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Source: CBOE
BNY Mellon ADR Index Monthly Performance Review is Now Available
November 1, 2010--BNY Mellon ADR Index Monthly Performance Review has been updated and is now available.
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Source: BNY Mellon
U.S. Department of the Treasury Treasury International Capital System (TIC) Homepage Update
November 1, 2010--The U.S. Department of the Treasury Treasury International Capital System (TIC) Homepage has been updated.
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Source: U.S. Department of the Treasury
Vanguard adds Global ex-U.S. Real Estate Index Fund and ETF
November 1, 2010--Vanguard today introduced a new international real estate index fund with traditional and exchange-traded fund (ETF) shares, further rounding out our offerings across multiple asset classes.
Vanguard Global ex-U.S. Real Estate Index Fund is benchmarked to the S&P Global ex-U.S. Property Index. It will invest in real estate investment trusts (REITs) and real estate operating companies (REOCs) in developed and emerging markets excluding the United States.
The Global ex-U.S. Real Estate Index Fund and ETF will complement Vanguard REIT Index Fund, which holds U.S. real estate securities.
"Modest exposure to real estate investments in a broadly diversified investment portfolio can help moderate overall portfolio volatility and serve as a hedge against inflation," Vanguard Chief Investment Officer Gus Sauter said. "With international real estate securities representing a growing portion of the overall real estate market, a counterpart to our domestic REIT Index Fund is a natural addition to our index fund lineup."
Source: Vanguard
