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Minutes of the Federal Open Market Committee, March 20-21, 2018
April 11, 2018--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 20-21, 2018. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.
Developments in Financial Markets and Open Market Operations
The deputy manager of the System Open Market Account (SOMA) provided a summary of developments in domestic and global financial markets over the intermeeting period; she also reported on open market operations and related issues. Financial markets experienced a notable bout of volatility early in the intermeeting period; volatility was particularly pronounced in equity markets.
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Source: federalreserve.gov
CFTC.gov Swaps Report Update
April 11, 2018--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Wall Street Lending Could Rise by Billions in U.S. Proposal
April 11, 2018--Revised leverage ratio might free up $121 billion in capital
Banks have been eagerly anticipating proposal from Fed and OCC.
U.S. regulators are poised to ease leverage limits for Wall Street banks, potentially freeing up tens of billions of dollars for lending and other business activities in the latest move to relax post-crisis financial rules that the Trump administration blames for stifling growth.
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Source: Bloomberg
Boomers With Advisors, Annuities Are More Retirement-Ready: IRI
April 10, 2018--Boomers with annuities are more likely to have at least $100,000 saved, IRI finds.
While baby boomers remain unprepared as they head into retirement, with 42% of them having no retirement savings, 79% of boomers who work with a financial professional have at least $100,000 in retirement savings, according to a just-released report by the Insured Retirement Institute, in conjunction with National Retirement Planning Week.
According to the report, Boomer Expectations for Retirement 2018, among boomers who do have retirement savings, 38% have less than $100,000 saved for retirement, while only 38% have calculated the amount they will need to retire.
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Source: thinkadvisor.com
PGIM Investments enters the active ETF market with fixed income strategy
April 10, 2018--PGIM Investments has entered the exchange-traded fund space with the launch of the PGIM Ultra Short Bond ETF (NYSE ARCA:PULS).
The fund is a diversified, fixed income, actively managed ETF that aims to deliver current income and capital appreciation with a focus on managing risk. PGIM Investments is the worldwide distributor of retail products for PGIM, Inc., the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE:PRU)-a top 10 asset manager globally.
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Source: PGIM Investments
VanEck Launches Real Asset Allocation ETF to Combat Rising Inflation and Participate in Global Growth
April 10, 2018--VanEck today announced the launch of the VanEck Vectors® Real Asset Allocation ETF (NYSE Arca: RAAX), a fund that seeks long-term total return from exposure to a range of real assets, including commodities and companies involved in natural resources, real estate, and infrastructure, while mitigating downside risk.
"VanEck has been a long-time proponent of the benefits of real asset investments, both from a performance and portfolio diversification perspective. We also understand that the volatility of real asset investing is a challenge for many investors," said David Schassler, Portfolio Manager for RAAX. "These are predominantly cyclical sectors that experience frequent periods of high volatility. RAAX was specifically designed to address this. It is a real asset investment solution with built in risk management."
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Source: VanEck
Pacer ETFs Announces New Fund Comprised of Veteran Friendly Companies
April 10, 2018--VETS tracks companies that support veterans, active service members and their families
Pacer ETFs is proud to announce the Pacer Military Times Best Employers ETF (VETS) as the latest addition to its lineup. Its newest ETF seeks to track the total return performance of the Military Times Best for VETS IndexSM before fees and expenses.
The Index is calculated by Wilshire and owned and developed by VETS Indexes, LLC. Pacer will also donate 10% of its management fees earned from VETS to veteran-related charities.
"Pacer ETFs strongly believes that America's military and veterans exemplify the best part of our country. Companies that treat veterans well should be recognized for their care and support of our best and brightest. Doing so through our new ETF is a unique and wonderful way to spotlight these companies, while also helping charities that support our nation's heroes," says Sean O'Hara' President of Pacer ETFs.
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Source: Pacer ETFs
Gemini Exchange to Offer Cryptocurrency Block Trading
April 10, 2018--The digital asset exchange Gemini, run by the Winklevoss twins, will be offering investors the ability to place large orders outside of the exchange's order book.
This move gives Gemini the chance to compete with other companies that specialize in high-volume virtual currency trading for institutional markets.
Central limit order books are sufficient to facilitate smaller trades, but orders that exceed the liquidity of the order book can have harmful effects on the market as a whole.
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Source: coinjournal.net
Big Bond Trades Would Stay Secret Under Proposal
April 9, 2018--Wall Street would get a break from reporting prices on trades over $10 million in pilot proposed by SEC advisory committee
Wall Street could get the green light to hold back some information from the public about large bond trades under a proposal advanced Monday by a Securities and Exchange Commission advisory panel.
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Source: Wall Street Journal
iShares Launches Commodities, Infrastructure ETFs
April 9, 2018--BlackRock, Inc., iShares unit, the world's largest issuer of exchange traded funds, added to its expansive lineup last week with the addition of two new funds.
Those new ETFs are the iShares U.S. Infrastructure ETF and the iShares Bloomberg Roll Select Commodity Strategy ETF.
The iShares U.S. Infrastructure ETF seeks to track the investment results of an index composed of equities of U.S. companies that have infrastructure exposure and that could benefit from a potential increase in domestic infrastructure activities, according to iShares.
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Source: MarketWatch
