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Yellen Gets Wall Street Buzzing About 50-Year U.S. Treasuries
January 19, 2021--Biden's pick for Treasury secretary was non-committal on topic
Traders sold 30-year bonds in response, steepening yield curve
All it took was a non-committal comment from Janet Yellen to persuade Treasury traders there’s a chance the U.S. will finally expand maturities in the world's biggest bond market beyond 30 years.
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Source: bloomberg.com
Gabelli Funds to Launch Actively Managed ETF Love Our Planet & People (LOPP)
January 19, 2021--GAMCO Investors, Inc. ("GAMCO") (NYSE: GBL) announced today that the registration statement for The Gabelli ETFs Trust, which includes nine Precidian ActiveShares actively managed ETFs, was declared effective by the Securities and Exchange Commission.
Gabelli Funds' launch of Love Our Planet & People will reflect our mandate to invest in companies committed to sustainable practices such as renewable energy and the reduction or recycling of long-lived wastes such as plastics.
The LOPP team has extensive experience researching and investing in companies involved in forward-looking sectors including renewable power generation (wind, solar, water), electric transmission and storage, electric mobility, waste reduction and recycling, water conservation and treatment, and human nutrition throughout the world.
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Source: GAMCO Investors, Inc
SEC-Fee Rate Advisory #2 for Fiscal Year 2021
January 15, 2021--The Securities and Exchange Commission today announced that starting on February 25, 2021, the fee rates applicable to most securities transactions will be set at $5.10 per million dollars.
Consequently, each SRO will continue to pay the Commission a rate of $22.10 per million for covered sales occurring on charge dates through February 24, 2021, and a rate of $5.10 per million for covered sales occurring on charge dates on or after February 25, 2021.
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Source: SEC.gov
Competition for Attention in the ETF Space
January 14, 2021--Abstract
Exchange-traded funds (ETFs) are the most prominent financial innovation of the last three decades. Early ETFs offered broad-based portfolios at low cost. As competition became more intense, issuers started offering specialized ETFs that track niche portfolios and charge high fees. Specialized ETFs hold stocks with salient characteristics--high past performance, media exposure, and sentiment--that are appealing to retail and sentiment-driven investors.
After their launch, these products perform poorly as the hype around them vanishes, delivering negative risk-adjusted returns. Overall, financial innovation in the ETF space follows two paths: broad-based products that cater to cost-conscious investors and expensive specialized ETFs that compete for the attention of unsophisticated investors.
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Source: papers.ssrn.com
BlackRock assets surge to record $8.68tn
January 14, 2021--BlackRock's assets under management swelled to a peak of $8.68tn in the fourth quarter as robust financial markets led by a record run in equities helped the world's biggest fund manager eclipse revenue and profit forecasts.
New York-headquartered BlackRock said on Thursday that revenue rose 13 per cent year-on-year to $4.48bn, while net income climbed by a fifth to $1.57bn.
The company reported earnings per share of $10.18 on an adjusted and diluted basis for the fourth quarter, beating expectations of $9.19 from analysts polled by Bloomberg. Revenue of $4.48bn also beat analyst estimates of $4.31bn.
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Source: dailyuknews.com
Banks, insurers move to shape climate debate as Washington crackdown looms
January 13, 2021--The organizations described their "clear mandate" on climate finance in an unreleased and yet-to-be finalized report that they've been assembling since Joe Biden secured the presidency.
Some of the country's biggest banking and insurance trade groups are poised to pledge trillions of dollars in financing to fight climate change in a move that could give them greater clout in the debate as Democrats step up scrutiny of Wall Street's role in global warming.view more
Source: politico.com
Merlyn.AI Expands its Family of AI-Powered ETFs with the Launch of Two New Members-SectorSurfer Momentum (DUDE)-Best-of-Breed Core Momentum (BOB)
January 13, 2021--Merlyn.AI Corporation (MAI), a Palo Alto-based provider of investment technologies, launches two new ETFs listed on Cboe: DUDE-the SectorSurfer Momentum ETFBOB- the Best-of-Breed Core Momentum ETF.
Following the launch of WIZ in October 2019 and SNUG in February 2020, Merlyn.AI is now expanding its offering of algorithm-driven, AI-powered ETFs that allow investors and Financial Advisors to build customized portfolios with a broad range of expected risk and returns.
Merlyn.AI's artificial intelligence (AI) based technology, including genetic algorithms, advanced signalprocessing and market-data noise reduction, has undergone decades of research and development and hasbeen tested through multiple bull and bear markets.
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Source: alphaarchitect.com
Horizon Kinetics Launches Inflation Beneficiaries Exchange Traded Fund (INFL)
January 12, 2021--Horizon Kinetics Launches Inflation Beneficiaries Exchange Traded Fund (INFL)
Horizon Kinetics LLC announced the launch of its first exchange traded fund (ETF), the Inflation Beneficiaries ETF (INFL), an actively managed fund, which began trading on the New York Stock Exchange (NYSE) today.
This active ETF will be managed using the same long-term, value-oriented, and proprietary research-driven philosophy that has guided the management of the Firm's other products over the more than 20 years since Horizon Kinetics' inception. The ETF seeks to address what Horizon Kinetics sees as the largest threat facing investors: Inflation, by identifying unique, scalable businesses that have the potential to thrive in an inflationary environment.
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Source: Horizon Kinetics
Crypto industry fears impact of proposed Treasury rule
January 11. 2021--A planned new US Treasury rule aimed at stamping out illicit cryptocurrency transactions has drawn strong opposition from the industry, setting up a battle that threatens to cast a shadow over the recent digital currency boom.
The proposal would require custodians and exchanges to collect and report identifying information about large transactions involving unhosted wallets-cryptocurrency accounts held outside financial institutions.
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Source: thefinanceinfo.com
One in 20 ETFs axed in 2020 after failing to build scale
January 11, 2021--Issuers' appetite for new launches meant the total number of funds still grew by 318.
More than one in 20 exchange traded funds were axed last year as surging inflows failed to lift all boats, but issuers' enthusiasm for new launches remained undimmed.
The accelerating rate of fund closures reflects a greater willingness among asset managers to scrap funds that fail to reach profitable scale, as well as a rash of merger and acquisition activity that led some investment houses to prune overlapping products.
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Source: FT.com
