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August 2010 Quarterly Refunding Statement
August 4, 2010-- The U.S. Department of the Treasury is offering $74 billion of Treasury securities to refund approximately $33.0 billion of privately held securities maturing on August 15, 2010. This will raise approximately $41 billion. The securities are:
A 3-year note in the amount of $34 billion, maturing August 15, 2013;
A 10-year note in the amount of $24 billion, maturing August 15, 2020; and
A 30-year bond in the amount of $16 billion, maturing August 15, 2040.
The 3-year note will be auctioned on a yield basis at 1:00 p.m. EDT on Tuesday, August 10, 2010. The 10-year note will be auctioned on a yield basis at 1:00 p.m. EDT on Wednesday, August 11, 2010, and the 30-year bond will be auctioned on a yield basis at 1:00 p.m. EDT on Thursday, August 12, 2010. All of these auctions will settle on Monday, August 16, 2010.
The balance of Treasury financing requirements will be met with 4-, 13-, 26- and 52-week bills; monthly 2-year, 3-year, 5-year, and 7-year notes; the August 30-year TIPS reopening, the September 10-year TIPS reopening, and the October 5-year TIPS reopening.
Treasury may also issue cash management bills during the quarter.
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Source: U.S. Department of the Treasury
BlackRock Seeks Clearance for Index ETFs That Can Sell Short
Augsut 4, 2010-- BlackRock Inc. is seeking regulatory clearance to create exchange-traded funds that can bet against stocks or bonds, as the $826 billion industry’s largest player seeks new products to boost revenue.
The company applied today with the U.S. Securities and Exchange Commission for the right to engage in short sales when running ETFs that track market indexes. Until now, the New York- based company’s ETFs have been based on indexes that buy stocks rather than selling them short, a strategy that generates profits when the underlying asset declines in value.
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Source: Bloomberg Business Week
Vanguard files for exemptive relief
August 4, 2010--Vanguard has filed an amended application for exemptive relief with the SEC. This Application seeks relief for Vanguard Inflation Protected Securities Fund (the “Initial Fund”), a series of Bond Index
Trust,
and for any series of open-end management investment companies registered under the Act,
view filling
Source:: SEC.gov
iShares files with the SEC
August 4, 2010--iShares has filed for exemptive relief with the SEC.
Operation of the New Funds
The investment objective of each New Fund (or any existing Fund that relies on the relief requested herein) will be to seek investment results that correspond generally to the price and yield performance, before fees and expenses, of an Underlying Index that is a Long-Short Index.
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Source: SEC.gov
First Trust files with the SEC
August 3, 2010--First Trust has filed a post effective amendment, registration statement with the SEC for
First Trust NASDAQ CEA Smartphone Index Fund
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Source: SEC.gov
U.S. International Reserve Position
August 3, 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 $129,162 million as of the end of that week, compared to $128, 279 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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July 30, 2010 |
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A. Official reserve assets (in US millions unless otherwise specified) 1 |
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129,162 |
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(1) Foreign currency reserves (in convertible foreign currencies) |
Euro |
Yen |
Total |
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(a) Securities |
9,252 |
15,043 |
24,295 |
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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 |
13,690 |
7,373 |
21,063 |
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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 |
11,942 |
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(3) SDRs 2 |
56,013 |
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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) |
4,808 |
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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) |
4,808 |
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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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II. Predetermined short-term net drains on foreign currency assets (nominal value) |
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Source: U.S. Department of the Treasury
BNY Mellon ADR Index Monthly Performance Review is Now Available
August 3, 2010--BNY Mellon ADR Index Monthly Performance Review-July 2010 is now available.
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Source: BNY Mellon
CME Group Volume Averaged 10.8 Million Contracts per Day in July 2010, Up 12 Percent
August 3, 2010-CME Group, the world's leading and most diverse derivatives marketplace, today announced that July volume averaged 10.8 million contracts per day, up 12 percent from July 2009. Total volume was 227 million contracts for July, of which 83 percent was traded electronically.
In July 2010, CME Group interest rate volume averaged 4.5 million contracts per day, up 8 percent compared with the prior July. Treasury futures volume averaged 2.0 million contracts per day, up 35 percent compared with the same period in 2009, and Treasury options volume averaged 235,000 contracts per day, up 13 percent. Eurodollar futures volume averaged 1.5 million contracts per day, down 16 percent versus July 2009, while Eurodollar options volume averaged 657,000 contracts per day, up 8 percent.
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Source: CME Group
ISE Reports Monthly Volume for July 2010
August 2, 2010--The International Securities Exchange (ISE) today reported average daily
volume of 2.5 million contracts in July 2010.
Average daily trading volume for all options contracts decreased 38.7% to 2.5 million contracts in July as
compared to 4.1 million contracts during the same period in 2009. Total options volume for the month
decreased 41.5% to 53.0 million contracts from 90.6 million contracts in the same year-ago period.
On a year-to-date basis, average daily trading volume of all options decreased 22.5% to 3.2 million
contracts traded. Total year-to-date options volume through July 2010 decreased 23.0% to 458.6 million
contracts from 595.5 million contracts in the same period last year.
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Source: International Securities Exchange (ISE)
Emerging Markets Week in Review -7/26/2010 - 7/30/2010
August 2, 2010--The Dow Jones Emerging Markets Sector Titans Composite Index advanced 0.57% last week, closing out a strong month for emerging market sectors.
Consumer Goods and Financials led the market up by increasing 2.37% and 1.56% respectively. Materials was the only negative sector last week, declining 0.46% and, despite a strong month of July, remains the worst performer this year.
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Source: Emerging Global Advisors