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Annual Russell US Indexes reconstitution measures a resilient US equity market
June 8, 2018--US equity markets continue to climb despite heightened volatility, rising interest rates and unpredictability in geopolitical events.
Small caps have turned the table on large caps, with stronger returns, and smaller microcap stocks lead all US cap tiers.
Apple largest stock for 6th year in a row while Amazon moves to prime position in technology-led Russell 1000(R) Index.
A total of 211 companies will join the Russell 2000® Index at this year's reconstitution.
Today FTSE Russell, a leading global index, data and analytics provider, posted its official preliminary lists of companies set to enter or leave the US broad-market Russell 3000(R) Index and the Russell Microcap(R) Index when the Russell US Indexes complete their annual rebalance after US equity markets close on Friday, June 22. The lists of projected additions and deletions for the Russell US Indexes are now available on the FTSE Russell website.
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Source: FTSE Russell
CBO-Monthly Budget Review for May 2018
June 7, 2018--The federal budget deficit was $530 billion for the first eight months of fiscal year 2018, the Congressional Budget Office estimates, $97 billion more than the shortfall recorded during the same period last year
Revenues and outlays were higher, by 3 percent and 6 percent, respectively, than they were during the first eight months of fiscal year 2017.
As was the case last year, this year's outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, outlays and the deficit through May would have been larger, by roughly $40 billion, both this year and last year-but the year-to-year changes would not have been very different.
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Source: Congressional Budget Office (CBO)
Susquehanna Is Opening Crypto Trading, Starting with BTC Futures
June 7, 2018--American global trading and technology firm Susquehanna International Group is opening cryptocurrency trading to its clients, initially in the form of Bitcoin (BTC) futures, the New York Times reported June 5.
The company, based in Bala Cynwyd, Pennsylvania, is one of the largest financial firms in the world, trading traditional investments, such as stocks, options, and exchange traded funds (ETFs).
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Source: cointelegraph.com
CFTC.gov Commitments of Traders Reports Update
June 7, 2018--The current reports for the week of June 8, 2018 are now available.
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Source: CFTC.gov
U.S. Weekly FundFlows Insight Report: Despite Market Rally, Investors Are Net Redeemers of Equity Funds and ETFs for the Week
June 7, 2018--For the seventh week in a row investors were net purchasers of fund assets (including those of conventional funds and ETFs) in general, adding a little more than $29.6 billion for Thomson Reuters Lipper's fund-flows week ended June 6, 2018. However, the headline number was misleading.
Despite upbeat economic reports and a market rally during the flows week, fund investors were net redeemers of equity funds (-$4.3 billion) and taxable bond funds (-$1.2 billion). Perhaps as a result of continuing trade war and geopolitical concerns, money market funds (+$34.9 billion) were the primary recipients of investor assets, followed at a distance by municipal bond funds (+$189 million).
Market Wrap-Up
During the flows week investors generally shrugged off trade war concerns and cheered a better-than-expected nonfarm jobs report, a possible resolution to Italy’s political woes, and a rally in tech and financial issues.
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Source: Thomson Reuters
Bitcoin endorsement from SEC could provide a regulatory domino effect
June 7, 2018--Lack of clarity on the regulation of cryptocurrencies has proved to be a major barrier for institutional investors looking to trade digital assets.
Institutional investors are waiting for regulatory approval from the US Securities and Exchange Commission (SEC) before stepping into the cryptocurrency trading world< according to experts.
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Source: Thetradenews.com
EquBot Announces the Launch of the AI Powered International Equity ETF (AIIQ)
June 6, 2018--EquBot, a leader in combining deep financial analysis with the cognitive power of artificial intelligence (AI), today announced the launch of the AI Powered International Equity ETF (NYSE Arca:AIIQ).
Firm expands its AI-focused ETF offerings with new fund that targets opportunities in developed international markets outside the U.S.
EquBot, a leader in combining deep financial analysis with the cognitive power of artificial intelligence (AI), today announced the launch of the AI Powered International Equity ETF (NYSE Arca:AIIQ).
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Source: EquBot
Amplify ETFs Launches Amplify Advanced Battery Metals and Materials ETF (NYSE Arca: BATT)
June 6, 2018--Lithium, Cobalt, Nickel, Manganese and Graphite exposure through publicly-traded companies
Amplify ETFs announces the launch of the Amplify Advanced Battery Metals and Materials ETF (NYSE Arca: BATT), a professionally managed ETF that seeks to provide exposure to Lithium, Cobalt, Nickel, Manganese and Graphite via publicly-traded stocks.
Companies in the portfolio are principally engaged in the business of mining, exploration, production, processing or recycling of advanced battery metals and materials. BATT constituents must derive 50% or more of their revenue, or be in the top five and have at least 10% of global market share, of any advanced battery material.
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Source: Amplify ETFs
How Vanguard, BlackRock and State Street---which manage RIA trillions of AUM for a pittance--may artfully make the bill come due by beating active managers at their own game
June 6, 2018--The ETF giants' latest mutual fund-killing trick is free management of ETF portfolios---perhaps the seeds of a massive freemium model
Brooke's Note: Just when you think it can't get any better for RIAs looking to cut costs, improve quality and scale their businesses without making additional hires, it does.
The bad news for RIAs is that investment management is no longer enough to compete long run for client assets. The good news is that less effort and cost is demanded by the day to do a bang-up job managing assets. First ETF groceries. Now prepared ETF meals---backed by big brands. Managed ETF portfolios compliments of the ETF-maker already operating at razor-thin margins is a happy sleeper offshoot of the robo-advisor movement and the unrelenting one-upping done by the world's biggest asset managers.
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Source: RIAbiz.com
CSA Investor Alert: Caution urged for Canadians investing with crypto-asset trading platforms
June 6, 2018--The Canadian Securities Administrators (CSA) is urging Canadians to be cautious when considering buying crypto assets through trading platforms. Even though a platform may call itself an "exchange," that does not mean it is complying with the securities regulatory regime.
The CSA wants to make it clear: currently there are no crypto-asset trading platforms recognized as an exchange or otherwise authorized to operate as a marketplace or dealer in Canada.
"We want investors to understand that just because a platform may advertise itself as an exchange, that does not mean the platform is complying with applicable securities regulations," said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers.
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Source: Canadian Securities Administrators
