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U.S. International Reserve Position
September 28, 2010--The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $132,375 million as of the end of that week, compared to $130,249 million as of the end of the prior week.
I. Official reserve assets and other foreign currency assets (approximate market value, in US millions)
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September 24, 2010 |
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A. Official reserve assets (in US millions unless otherwise specified) 1 |
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132,375 |
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(1) Foreign currency reserves (in convertible foreign currencies) |
Euro |
Yen |
Total |
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(a) Securities |
9,593 |
15,433 |
25,026 |
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of which: issuer headquartered in reporting country but located abroad |
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0 |
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(b) total currency and deposits with: |
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(i) other national central banks, BIS and IMF |
14,124 |
7,576 |
21,700 |
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ii) banks headquartered in the reporting country |
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0 |
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of which: located abroad |
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0 |
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(iii) banks headquartered outside the reporting country |
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0 |
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of which: located in the reporting country |
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0 |
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(2) IMF reserve position 2 |
12,370 |
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(3) SDRs 2 |
57,278 |
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(4) gold (including gold deposits and, if appropriate, gold swapped) 3 |
11,041 |
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--volume in millions of fine troy ounces |
261.499 |
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(5) other reserve assets (specify) |
4,960 |
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--financial derivatives |
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--loans to nonbank nonresidents |
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--other (foreign currency assets invested through reverse repurchase agreements) |
4,960 |
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B. Other foreign currency assets (specify) |
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--securities not included in official reserve assets |
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--deposits not included in official reserve assets |
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--loans not included in official reserve assets |
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--financial derivatives not included in official reserve assets |
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--gold not included in official reserve assets |
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--other |
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Source: U.S. Department of the Treasury
FTSE 100 Index Futures: 7:00pm Opening Begins October 3rd
September 28, 2010--eginning on Sunday October 3rd, for the trade date of Monday October 4th, FTSE 100 Index Futures will open at 7:00pm Central time.
The contract will be available to trade from 7:00pm until 1:50am on the following day (Central time), when the market will enter a ten minute Pre-Open period from 1:50am to 2:00am.
During this period orders may be submitted, revised and pulled in the Central Order Book but no business will be transacted. Resting orders will remain in the market.
The contract will re-open at 2:00am Central time, the same time the UK cash market opens, and trade continuously until 3:00pm Chicago time.
Source: NYSE Liffe US
ProShares files with the SEC
September 28, 2010--ProShares filed a post-effective amendment, registration statement with the SEC.
read more
Source: SEC.gov
Component Change Made to Dow Jones Transportation Average
United Continental Holding, Inc. to Replace Continental Airlines, Inc.
September 28, 2010--Dow Jones Indexes, a leading global index provider, today announced a component change in the Dow Jones Transportation Average. Continental Airlines, Inc. Class will be deleted from the Dow Jones Transportation Average at the open of trading on Friday, October 1, 2010.
Continental is being removed due to the airline's merger with UAL Corporation. Concurrent with the merger, UAL Corp. will change its name to United Continental Holding, Inc. and its exchange listing to the New York Stock Exchange from NASDAQ.
UAL Corp. was in the Dow Jones Transportation Average from January 2, 1970, until December 6, 2002, when it was removed from the index because the company filed for bankruptcy protection and trading of its stock was suspended on the New York Stock Exchange. (UAL Corp. was renamed Allegis from early 1987 until June 1988, when the original name was readopted).
The Dow Jones Transportation Average tracks 20 U.S. transportation stocks. Other members of the Dow Jones Averages family are the Dow Jones Industrial Average, the Dow Jones Utility Average, the Dow Jones Composite Average and The Global Dow.
Further information as well as the component list of the Dow Jones Transportation Average can be found at http://www.djaverages.com.
Company additions to and deletions from the Dow Jones Transportation Average do not in any way reflect an opinion on the investment merits of the companies.
Source: Dow Jones Indexes
S&P Launches MegaCap Index for Canadian Equity Market
Comprised of 25 of the largest, most liquid stocks listed on the Toronto Stock Exchange
September 27, 2010--Standard & Poor's, the world's leading index provider, announced today the launch of the S&P/TSX MegaCap Index, a large-cap index highlighting the 25 largest, most liquid stocks listed on the Toronto Stock Exchange. The Index is derived from the S&P/TSX Composite Index, a widely followed gauge of the Canadian equity market.
"The S&P/TSX MegaCap Index will provide investors with exposure to 25 of the largest, most liquid publicly traded companies in Canada," says Sid Oberoi, Senior Director at S&P Indices. "The Index covers over 50% of the market-cap of Canadian listed equities, providing investors with a gauge to measure the performance of this segment of the market."
To be included in the S&P/TSX MegaCap Index, securities must be among the 25 largest constituents in the S&P/TSX Composite in terms of float quoted market value (the value determined by multiplying the number of float shares of a security by the price for one such float share), and have listed options on the Montreal Exchange. In order to minimize turnover, additions and deletions from the S&P/TSX MegaCap are made at the Index's quarterly review.
The S&P/TSX MegaCap Index employs a buffer rule during the quarterly review where a security must be amongst the 35 largest constituents in the S&P/TSX Composite Index, and continue to have listed options on the Montreal Exchange. The top 5 constitutions by weight within the Index include: Barrick Gold Corp, Potash Corp of Saskatchewan, Suncor Energy Inc, Royal Bank of Canada, and Toronto-Dominion Bank.
"Toronto Stock Exchange is very pleased with the launch of this new index," says Andre Craig, Vice President, TMX Datalinx. "It provides a complementary offering to the core S&P/TSX benchmark indices and further demonstrates our joint commitment to providing new and innovative products for the capital markets."
For more information on the S&P/TSX MegaCap Index, including the methodology and fact sheet, please visit: www.standardandpoors.com/indices.
Source: Standard & Poors
ETSpreads, LLC files with the SEC
September 27, 2010--ETSpreads, LLC
has filed an amended and restated application for exemptive relief with the SEC. The Initial Fund, the ETSpreads US Inflation Linked Fund.
The Initial Fund will be based on a domestic fixed income securities Index (the “Initial Index”) and certain Future Funds may also be based on domestic fixed income securities Indexes.
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Source: SEC.gov
Brazil in ‘currency war’ alert
September 27, 2010--An “international currency war” has broken out, according to Guido Mantega, Brazil’s finance minister, as governments around the globe compete to lower their exchange rates to boost competitiveness.
Mr Mantega’s comments in São Paulo on Monday follow a series of recent interventions by central banks, in Japan, South Korea and Taiwan in an effort to make their currencies cheaper. China, an export powerhouse, has continued to suppress the value of the renminbi, in spite of pressure from the US to allow it to rise, while officials from countries ranging from Singapore to Colombia have issued warnings over the strength of their currencies.
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Source: FT.com
Emerging Markets Week in Review - 9/20/2010 - 9/24/2010
September 27, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index returned 1.86% last week, its fourth consecutive weekly increase, and reached its highest close since July 2008. Technology led the market up, climbing 4.32%, and now leads all sectors this quarter and in 2010.
Energy and Utilities were the worst performers for the week, increasing 1.02% and 0.18% respectively. Last week's strong performance pushed all sectors into positive territory for the year as investors continue to favor emerging markets over their developed counterparts.
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Source: Emerging Global Advisors
Exchange-Traded Funds: US ETF Weekly Update- September 27, 2010
September 27, 2010--Weekly Flows:$6.1 Billion Net Inflows
ETFs Traded $345 Billion Last Week
Launches: 10 New ETFs
First Trust to Cut BICK Fee
Claymore Officially Changes Name to Guggenheim
Old Mutual Announces ETF Closures
US-Listed ETFs: Estimated Flows by Market Segment
For the fourth week in a row, ETFs generated net inflows —$6.1 blnlast week
Weekly net inflows driven by US Sector & Industry ETFs (6 of top 10 largest net inflows)-ETF assets stand at $885 bln; up 13.5% YTD
13-week flows are mixed among asset classes
$28.0 bln net inflows into ETFs over 13 wks; International -EM equity has strongest net inflows ($13.3 bln)
US-Listed ETFs: Estimated Largest Flows by Individual ETF
US-Listed ETFs: Estimated Largest Flows by Individual ETF
QQQQ posted net inflows of $3.2 blnlast week, the most of any ETF
QQQQ’sflows have been choppy this year, but we estimate YTD net inflows of $1.9 bln
Over 13-wk period, 2 EM equity funds (EEM & VWO) have taken in most new money ($9.8 blncombined)
US-Listed ETFs: ETF Dollar Volume
Market share of mthly ETF volume as % of listed volume has more than doubled over 5 yrs
US Large-Cap accounts for 45% weekly ETF volume, but only has 21% of market cap
Fixed Income accounts for only 3% weekly ETF volume, but has 16% of market cap
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Source: ETF Research-Morgan Stanley
Global Markets Advisory Committee Meeting
September 27, 2010--CFTC Commissioner Jill E. Sommers to chair the Commodity Futures Trading Commission’s Global Markets Advisory Committee meeting to discuss the European Commission Legislative Proposal for OTC Derivatives; Japanese Legislation on OTC Clearing; Ongoing and Anticipated IOSCO Projects; Dodd-Frank Rulemakings; and Foreign Board of Trade Registration Rulemaking.
When: Tuesday, October 5, 2010, 1:00 PM (ET)
Where:CFTC Hearing Room, 1155 21st Street, NW, Washington, DC
Topic: European Commission Legislative Proposal for OTC Derivatives; Japanese Legislation on OTC Clearing; Ongoing and Anticipated IOSCO Projects; Dodd-Frank Rulemakings; and Foreign Board of Trade Registration Rulemaking
Source: CFTC.gov