Americas ETP News
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Insurers Are Still Wary of ETFs Despite Regulatory Overhaul
February 21, 2019--Almost 40% avoid using the funds, according to a new study
A change in rules was expected to boost use of debt ETFs
Many insurance companies are steering clear of exchange-traded funds even after a high profile rule change designed to make them easier to own.
Almost 40 percent of insurers aren't using ETFs more than a year after the National Association of Insurance Commissioners rewrote its accounting rules in an attempt to loosen the restrictions, according to a new survey sponsored by State Street Corp. and conducted by Greenwich Associates. For more than a third of non-users, internal policies and state regulations are to blame, the study showed.
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Source: Bloomberg
Weak U.S. data underscore growing headwinds to economy
February 21, 2019--New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a sustained slowdown in business spending on equipment that could further crimp economic growth.
The economy's outlook was also dimmed by other reports on Thursday showing a measure of factory activity in the mid-Atlantic region contracted in February for the first time since May 2016 and home resales plunging to a more than three-year low in January.
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Source: Reuters
Mutual Funds Attract Net New Money in January, While ETFs Suffer Net Redemptions
February 20, 2019--For the second month in three, investors were net purchasers of mutual fund assets, injecting $36.9 billion into the conventional funds business (excluding ETFs, which are reviewed in the section below) for January. Investors warmed to improved trade talks between the U.S. and China and more dovish Federal Reserve Board comments, pushing U.S. stocks to their best January returns in three decades.
For the first month in a four, the fixed income funds macro-group witnessed net inflows, taking in $15.1 billion for the month. And for the first month in nine, stock & mixed-asset funds witnessed net inflows (+$14.1 billion) for January, their largest monthly net inflows since March 2015. Money market funds (+$7.7 billion), for their fourth consecutive month of inflows, took in the smallest net inflows of the three broad-based macro-groups in the open-end fund universe.
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Source: Refinitiv
CFTC.gov Swaps Report Update
February 20, 2019--CFTC's Weekly Swaps Report has been updated, and is now available
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Source: CFTC.gov
Minutes of the Federal Open Market Committee, January 29-30, 2019
February 20, 2019--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 29-30, 2019.
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Source: federalreserve.gov
ETFGI reports ETFs and ETPs listed in Canada gather US$413 million during January 2019
February 20, 2019--ETFGI, a leading independent research and consultancy firm covering trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed in Canada gathered net inflows of US$413 million in January.
Assets invested in the Canadian ETF/ETP industry finished the month up 8.17%, from US$115 billion at the end of December, to US$125 billion, according to ETFGI's January 2019 Canadian ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets invested in the Canadian ETF/ETP industry rise 8.17% in January.
During January 2019, ETFs/ETPs listed in Canada attracted $413 Mn in net inflows/
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Source: ETFGI
Franklin Templeton Introduces First Suite of Franklin LibertyShares(R) Low-Cost Regional and Country ETFs in Canada
February 20, 2019-- New suite includes first Japan passive ETF and Europe (ex. U.K.) passive ETF available on a Canadian exchange
Franklin Templeton today announced the expansion of its Franklin LibertyShares ETF offerings in Canada with its first suite of passive ETFs, providing investors exposure to a specific region or country at a low fee.
The management fees for these new Canada, United States, Japan and Europe (excluding U.K.) passive ETFs are amongst the lowest in the industry, ranging between 5 to 9 bps.
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Source: Franklin Templeton Investments Corp
Oil off 2019 highs as U.S. crude stocks build, output hits record
February 20, 2019--Oil prices fell below 2019 highs on Thursday after U.S. government data showed a fifth weekly build in crude inventories and record production, while concerns about slowing global economic growth weighed.
Losses were capped by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran. Advancements in Washington-Beijing trade deal discussions also supported prices.
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Source: Reuters
Some Dark Clouds on the Horizon for the U.S. Economy
February 20, 2019--By most accounts, the American economy is doing well. Jobs continue to be added at a robust pace, wage growth is accelerating, and the stock market has largely recovered from its late 2018 swoon. Yet a few recent pieces of data highlight potential trouble spots.
Most obvious is the sharp slowdown in retail sales observed at the end of last year. CreditSights notes this could be a false signal not matched by some private-sector estimates:
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Source: Barron's
Countdown Restarts Today for SEC Decision on CBOE-VanEck Bitcoin ETF
February 19, 2019--The U.S. Securities and Exchange Commission (SEC) may make an initial decision on not one, but two different bitcoin exchange-traded fund (ETFs) proposals by April 5.
A bitcoin ETF proposal submitted (for a second time) by VanEck, SolidX and the Cboe BZX Exchange is expected to be formally published in the Federal Register Wednesday, kicking off the initial 45-day clock for approval, rejection or extension. The proposal was first posted on the SEC’s website on Feb. 13.
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Source: coindesk.com
