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Eurex's ESG Futures soon tradable in the U.S.
March 25, 2019--Eurex, one of the world's largest derivatives exchanges, has received approval from the Commodity Futures Trading Commission (CFTC) to offer its sustainable futures in the U.S. This gives U.S. based investors that apply environmental, social and governance (ESG) criteria direct access to hedging instruments for their portfolios.
The new futures will be available in the U.S. starting 8 April.
Since their launch on 18 February, almost 20,000 contracts have been traded in this newly introduced segment that applies Low Carbon, Climate Impact and Exclusion criteria in existing benchmark indices. Open Interest currently amounts to nearly 15,000 contracts. Five Market Makers have been actively providing screen prices for all three contracts.
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Source: Eurex
International Cannabis Announces Inclusion to the Horizons HMMJ ETF
March 25, 2019--ICC International Cannabis Corp. (CSE: WRLD.U)(FWB: 8K51)(OTC: WLDCF) ("ICC" or "International Cannabis" or the "Company") is pleased to announce its inclusion in the Horizons Medical Marijuana Life Sciences ETF (TSX: HMMJ) (the "ETF") as part of the quarterly rebalance of the constituent holdings of HMMJ.
Inclusion in the ETF is as a significant milestone for ICC, as the Company continues to establish itself as the world's premier, vertically integrated pure cannabis play.
According to Horizons ETFs, "As at September 5, 2018, HMMJ had reached over C$1 billion in assets under management, a rare achievement for the Canadian ETF marketplace." 1
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Source: ICC International Cannabis Corp.
Business Economists Cut US Growth Forecast
March 25, 2019--"NABE Outlook Survey panelists believe the U.S. economy has reached an inflection point," the group''s president says.
The National Association of Business Economists has joined the Federal Reserve and Business Roundtable in downgrading its outlook for U.S. growth this year and next.
The 55 business economists who contribute to the NABE outlook survey are now forecasting GDP growth, adjusted for inflation, of 2.4% this year, down from 2.7% previously, and 2% growth next year.
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Source: ThinkAdvisor.com
Inverted Yield Curve Is Telling Investors What They Already Know
March 24, 2019--Long-term bond yields plunging below short-term ones is a good predictor of Fed rate cuts and an economic slowdown-but a recession is no guarantee .
The market's most reliable recession indicator is finally flashing red. With the Treasury yield curve inverting on Friday-the 10-year yield fell sharply to be lower than the three-month for the first time since 2007-is it finally time to prepare for an economic downturn?
The answer is nuanced. It is true that the yield curve is the best forecasting tool for recessions, having inverted before each of the last seven recessions as measured by the National Bureau of Economic Research.
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Source: Wall Street Journal
BlackRock's iShares Launches Factor Rotation, Value ETFs
March 22, 2019--BlackRock Inc.'s iShares unit, the world's largest issuer of exchange traded funds, added to its already expansive ETF lineup Thursday with two funds.
The new funds are an actively managed factor rotation strategy and a new, passive take on value investing.
What Happened
The BlackRock U.S. Equity Factor Rotation ETF (NYSE:DYNF) is the new, actively managed factor rotation fund. DYNF "seeks to outperform the investment results of the large- and mid-capitalization U.S. equity markets by providing diversified and tactical exposure to style factors via a factor rotation model," according to iShares.
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Source: benzinga.com
CFTC.gov Commitments of Traders Reports Update
March 22, 2019--The current reports for the week of March 22, 2019 are now available.
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Source: CFTC.gov
Federal Reserve System publishes annual financial statements
March 22, 2019--The Federal Reserve Banks' 2018 earnings were approximately $63.1 billion, representing a decrease of $17.6 billion from 2017. The Reserve Banks provided for remittances to the U.S. Treasury of $65.3 billion in 2018, including two lump-sum payments totaling approximately $3.2 billion that were necessary to reduce the aggregate Reserve Bank capital surplus to $6.8 billion as required by the Bipartisan Budget Act of 2018 and the Economic Growth, Regulatory Relief, and Consumer Protection Act.
Interest income on securities acquired through open market operations totaled $112.3 billion, a decrease of $1.3 billion from the previous year.
The Federal Reserve System on Friday released the 2018 combined annual audited financial statements for the Federal Reserve Banks, as well as statements for the 12 individual Federal Reserve Banks and the Board of Governors. An independent public accounting firm engaged by the Board has issued unqualified opinions on the financial statements and on the Board's and the Bank's internal controls over financial reporting. The audited financial statements provide information about the assets, liabilities, and earnings of the Reserve Banks and the Board as of December 31, 2018.
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Source: federalreserve.gov
RBC Global Asset Management announces unitholder approval for changes to RBC Index ETFs and RBC Index Funds and further details regarding termination of the RBC Emerging Markets Equity Index ETF
March 22, 2019--RBC Global Asset Management Inc.("RBC GAM Inc.") today announced that unitholders have approved the mergers of five RBC Index ETFs, the change in investment fund manager from RBC GAM Inc. to BlackRock Asset Management Canada Limited ("BlackRock Canada") for the RBC Global Government Bond (CAD Hedged) Index ETF and changes to the investment objectives of the RBC Index Funds.
RBC GAM Inc. also announced further details regarding the termination of the RBC Emerging Markets Equity Index ETF.
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Source: RBC Global Asset Management
Exchange Traded Concepts Launches The Net Lease Corporate Real Estate Exchange Traded Fund
March 22, 2019--Exchange Traded Concepts, LLC, ("ETC") a leader in providing white label Exchange Traded Fund (ETF) solutions, in conjunction with Fundamental Income, today announced that it has launched the NETLease Corporate Real Estate ETF (NYSE ARCA: NETL).
The NETL ETF is uniquely focused solely on Net Lease Real Estate Investment Trusts (REITs), which is one of the fastest growing sectors within the REIT space. This pure-play Net Lease REIT ETF encompasses a variety of REITs that provide sustainable cash flows by leasing their properties through long-term contractual leases on a triple-net lease basis. The leases have terms that are generally 10 years or longer, predetermined rental rate increases, and minimal landlord responsibilities.
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In an attempt to gain regulatory approval for a Bitcoin exchange traded fund (ETF), Bitwise Asset Management attacked the accuracy of data listed on cryptocurrency tracking site CoinMarketCap.com. The claim came in a study filed with the U.S. Securities and Exchange Commission and made public on March 21.
Source: modernconsensus.com
