Americas ETP News
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Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies
October 15, 2018--Fidelity Investments, which administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services on Monday.
The firm will handle custody for cryptocurrencies such as bitcoin and will execute trades on multiple exchanges for investors such as hedge funds and family offices.
Other crypto companies have debuted similar products, but Fidelity is the first Wall Street incumbent to officially provide cryptocurrency solutions such as custody.
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Source: CNBC.com
IMF-Western Hemisphere Region Outlook for Latin America and the Caribbean: An Uneven Recovery
October 12, 2018--Amid escalating trade tensions, tighter financial conditions, and volatile commodity markets, economic recovery in Latin America and the Caribbean (LAC) has both moderated and become more uneven. The recovery has slowed in some of the region's largest economies (Brazil and Mexico), even coming to a halt in the case of Argentina, as the impact of external headwinds has been amplified by country-specific vulnerabilities.
In a similar vein, higher oil prices coupled with increased political uncertainty have dampened the near-term outlook in several economies in Central America. There is still no end in sight to the economic and humanitarian crisis in Venezuela. Meanwhile, better terms of trade over the past year and improvements in consumer and business confidence have provided a fillip to growth prospects in some Andean economies, and activity is recovering in the Caribbean, reflecting the uptick in tourism owing to robust US and global growth.
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Source: WisdomTree
BNY Mellon DR Index Monthly Performance-September 2018
October 11, 2018--The BNY Mellon DR Index Monthly Performance for October 2018 report is now available.
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Source: BNY Mellon
China’s $3 Billion Bond Sale Defies Global Markets Slump
October 11, 2018--China on Thursday sold $3 billion in U.S. dollar bonds, raising money as cheaply as some of America's strongest companies at a time of heightened tensions with its largest trading partner and in the midst of a global markets selloff.
The successful sale shows foreign investors remain confident in China's ability to repay debt, even though economic growth is slowing and the country is trying to keep a lid on corporate-debt levels.
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Source: Wall Street Journal
Lipper U.S. Weekly FundFlows Insight Report: Money Market Funds Pace the Overall Net Inflows as Investors Wait Out Market Uncertainty
October 11, 2018--Lipper's fund asset groups (including both mutual funds and ETFs) took in $11.3 billion net for the fund-flows week ended Wednesday, October 10. Money market funds, having net-positive flows of $20.8 billion, moved conversely to the other asset groups.
The net outflows among the other asset groups were led by taxable bond funds (-$5.9 billion), with equity funds and municipal bond funds contributing $2.6 billion and $848 million to the total net-negative flows.
Market Overview
The Dow Jones Industrial Average suffered its third largest point loss in history (-831.83 points) in trading on Wednesday, October 10. The Dow was driven lower by the continued spike in Treasury yields and increasing fears that the Federal Reserve will accelerate its money-tightening policy. (The only larger point losses for the Dow [both over 1,000 points] occurred in February of this year.)
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Source: Thomson Reuters
AdvisorShares Active ETF Market Share Update-Week Ending 10/5/2018
October 11, 2018--Actively managed ETFs gained $371 million last week to reach $66.1 billion in total net assets.
Invesco and PIMCO led weekly AUM growth among sponsors with $279 million and $147 million gains respectively.
There were no fund launches and two fund closures this week, which brought the total number of actively managed ETFs down to 237.
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Source: AdvisorShares
Columbia Threadneedle Investments Launches Strategic Beta ETF Focused on Municipal Bonds
October 10, 2018--Columbia Multi-Sector Municipal Income ETF leverages firm's strength as active investment manager of municipal bond portfolios
Columbia Threadneedle Investments today announced the expansion of its strategic beta exchange-traded fund (ETF) offerings, with the launch of Columbia Multi-Sector Municipal Income ETF (NYSE Arca: MUST).
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Source: Columbia Threadneedle Investments
Statement of CFTC Chairman J. Christopher Giancarlo on Proposed Amendments to Registration and Compliance Requirements for Commodity Pool Operators and Commodity Trading Advisors
October 9, 2018-In response to the Request for Information issued as part of Project KISS, the Commission received a number of letters from members of the asset management industry suggesting areas of potential rulemaking that, in their view, would make the Commission’s regulations more efficient and less burdensome.
I believe that today's notice of proposed rulemaking furthers both of those interests.
This proposal would incorporate relief from registration and compliance obligations for commodity pool operators (CPOs) and commodity trading advisors (CTAs) consistent with relief currently provided by staff letters and advisories.
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Source: CFTC.gov
UBS Suspends Further Sales of ETRACS Monthly Pay 2xLeveraged Small Cap
High Dividend ETN
October 9, 2018--UBS AG today announced that it has suspended further sales from inventory of its outstanding
ETRACS Monthly Pay 2xLeveraged Small Cap High Dividend ETN (NYSE Arca Ticker: SMHD). This suspension will remain in effect until further notice from UBS AG.
As previously announced on October 8, 2015, UBS AG does not intend to issue any new notes of this ETN, which is part of a series of UBS AG debt securities designated as "Medium-Term Notes, Series A."
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Source: UBS
