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Blackrock-ETF Landscape: Latin America Industry Review - Year End 2009
March 5, 2010--At the end of 2009 the Latin American ETF industry had 17 locally domiciled ETFs, 211 exchange listings, and assets of US$9.84 Bn from three providers on two exchanges.
There are 169 ETFs cross listed in Mexico at the end of December 2009 from eight providers, while there are 340 ETFs registered for sale in Chile from 10 providers, and 277 ETFs registered for sale in Peru from 12 providers.
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Source: ETF Research and Implementation Strategy, Blackrock
Weekly Market Report-State Street Global Advisors
March 4, 2010--US: THE WEEK IN REVIEW
Federal Reserve Chairman Bernanke’s Semiannual Testimony
to the Congress contained few surprises. Most importantly, he
reassured markets that last week’s discount rate hike was not
a portent of imminent policy tightening. Indeed, he reiterated
that the Fed would keep the funds target low for “an extended
period.”
His view of economic conditions seems to correspond closely to ours, namely that the current blip in activity reflects
the inventory swing and fiscal stimulus. A self-sustaining recovery requires improvement in private-sector demand, and that could be compromised by weakness in the labor markets
and higher structural (long-term) unemployment. In general, the
tone was dovish, and triggered a ten point rally in the S&P 500®.
GDP growth was revised up two ticks in the fourth quarter to 5.9%. However, the quality of growth actually deteriorated. The increase in final sales was revised down three ticks to 1.9%, while the inventory contribution rose by five ticks to 3.9 percentage points. This implies that the economy had less demand momentum than previously thought, and more of the ammunition stored in the inventory swing was used up, leaving less for the first half of 2010 when it might well be needed. Other changes included downward revisions to consumer spending, government purchases and net exports, partially offset by an upward one to business investment.
Much of the rest of this week’s data were worrisome, most notably consumer confidence, jobless claims and home sales. But, the weather may at least partially explain the weakness, so we are reluctant to conclude that the recovery is derailing just yet. However, we need to see improvement soon.
Consumer confidence eroded in February. According to the Conference Board’s survey the drop was quite severe as its headline index plunged 10.5 points to just 46.0, its lowest reading since April 2009, when the economy was still in the middle of its recessionary freefall. Expectations fell to their lowest level since July. And assessments of current conditions, which had been showing signs of stability over the last several months, appears to have taken another leg down, dropping to just 19.4, its lowest reading since February 1983 (in the wake of the devastating 1981-82 recession that pushed the unemployment rate to 10.8%). Fortunately, the University of Michigan survey did not confirm the collapse suggested by the Conference Board.
Indeed, confidence eroded only marginally during the month, with the headline index off just 0.8 point. Moreover, assessments of current conditions actually improved. The loss solely reflected deterioration in the rather volatile expectations component. So while the improvement in sentiment since last spring has certainly slowed, and may even have stalled, it may not be reversing. Next month’s Conference Board print will be important.
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Source: State Street Global Advisors
State Street files with the SEC
March 5, 2010--State Street has filed a post effective amended registration statement for
SPDR Barclays Capital International Corporate Bond ETF
view filing
Source: SEC.gov
Eaton Vance files with the SEC
March 5, 2010--Eaton Vance has filed an aplication for exemptive relief to create and operate five actively-managed investment series of the Trust that offer exchange-traded shares. The funds are:
Eaton Vance Enhanced Short Maturity ETF
Eaton Vance Government Limited Maturity ETF
Eaton Vance Intermediate Municipal Bond ETF
Eaton Vance Prime Limited Maturity ETF
Eaton Vance Short Term Municipal Bond ETF
view filing
Source: SEC.gov
First Trust files with the SEC
March 5, 2010--First trust files a amended application for exemptive relief with the SEC.
view filing
Source: SEC.gov
Direxion files with the SEC
March 5, 2010--Dirextion has filed a post-effective amended registration with the SEC.
view filing
Source: SEC.gov
NY insurance exchange on horizon
March 5, 2010--James Wrynn has occupied his office for little more than five months but already the politically appointed New York insurance superintendent knows his time could be running out.
His boss, David Paterson, the Democratic governor of New York, has abandoned his bid for re-election this year and faces calls to resign over allegations that he intervened in a domestic violence case involving a close aide
read more
Source: FT.com
S&P Announces New Redesigned Web Site
March 5, 2010--Standard & Poors has announce the launch of a redesigned Risk Solutions Web site at www.risksolutions.standardandpoors.com.
Our new English/U.S. site features an easier-to-read layout, simplified navigation, and two direct one-click entry points to Risk Solutions: through the main page of Standard & Poors.com, and through the main Products & Services page, where a full, alphabetical listing of all Standard & Poor's products and services.
The 2010 Risk Solutions suite of products and services is organized around five core areas:
* Credit Risk Services
* Inter-Company Financing Services
* Portfolio Risk Management
* Credit Risk Products and Data
* Thought Leadership (under construction)
Source: Online News
Barchart launches ETF fundamental data service
April 5, 2010--Barchart.com, a provider of market data and information, has launched an exchange-traded funds fundamental data service.
The fundamental ETF dataset, including exchange-traded notes, is a database of reference, financial and price related information covering all US listed ETFs and ETNs.
The dataset is available from Barchart as a data feed service, as well as hosted website content.
Barchart’s fundamental ETF data includes over 900 ETFs and dozens of data fields, including sectors, top holdings, assets under management, fund family information, and key financial ratios and returns.
Barchart also provides real-time, delayed, end-of-day and historical ETF price data.
Source: Internet News Feed
CME Group, CBOE To Develop Volatility Indexes Across Multiple Asset Classes
April 5, 2010--CME Group, the world's leading and most diverse derivatives marketplace, today announced it has entered into a seven-year license agreement with the Chicago Board Options Exchange (CBOE) that will allow CME Group to list futures and options on futures for volatility indexes on a variety of asset classes.
These contracts will be listed with, and subject to, the rules and regulations of the particular exchange where the products will be traded (CME, CBOT or NYMEX).
"Our liquid and transparent commodity and financial markets are the foundation for the creation of new indexes that customers can use to gain a view on volatility across a wide array of asset classes," said Scot Warren, CME Group Managing Director of Equity Index Products and Services. "We believe that a reliable benchmark index for volatility sentiment on contracts such as WTI Crude Oil, Corn, Soybeans and Gold will help market participants make more effective investment and hedging decisions based on their exposure to market volatility."
Terms of the license agreement between the exchanges include the following:
CBOE will create, own and calculate the benchmark indexes using its established CBOE Volatility Index® (VIX®) methodology and license use of the indexes to CME Group. The benchmark indexes are scheduled to begin publishing data during the third quarter of 2010.
Prices used in the calculations will originate from CME Group options on futures contracts. The data will use the most active electronically traded front and nearby contracts across commodity and financial products. CBOE will be the initial market disseminator of prices for the volatility indexes.
For more information, please go to www.cmegroup.com/vix.
Source: CME Group