Americas ETP News
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Federal Reserve issues FOMC statement
May 2, 2018--Information received since the Federal Open Market Committee met in March indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low.
Recent data suggest that growth of household spending moderated from its strong-fourth-quarter pace, while business fixed investment continued to grow strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
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Source: federalreserve.gov
Stock Exchanges Get Warning Shot From SEC Over Data Profits
May 2, 2018--Regulator took unusual step of blocking request to raise fees
SEC's chairman has signaled he's scrutinizing this area.
U.S. regulators blocked stock exchanges' request to raise some fees for market data, an unusual step suggesting closer scrutiny of an increasingly important slice of their businesses.
The fees that firms including NYSE Group Inc., Nasdaq Inc. and Cboe Global Markets Inc. wanted to boost are relatively obscure.
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Source: Bloomberg
The Forum at ETF Research Center-May 2018 Sector SPDR Analyzer
May 2, 2018--The ETF Analyzer, Sector SPDR Edition for April 2018 is ready for download. This monthly publication has succinct one-page reports on each of the 10 Select Sector SPDR ETFs in three easy-to-read sections: Investment Summary, Fundamentals, and Composition.
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Source: AltaVista Research
Large New York Money Manager AllianceBernstein Is Moving to Nashville
May 1, 2018--Move part of broad cost-cutting effort pressed by index-tracking funds and low-cost investing
One of the oldest names on Wall Street is moving to one of the fastest-growing cities in the South, reinforcing a recent shift in finance jobs to cheaper parts of the U.S.
AllianceBernstein Holding LP plans to relocate its headquarters, chief executive and most of its New York staff to Nashville, Tenn., in an attempt to cut costs, according to people familiar with the matter.
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Source: Wall Street Journal
SEC Enforcement Division Issues FAQs for Share Class Selection Disclosure Initiative
May 1, 2018--The Securities and Exchange Commission's Division of Enforcement today issued answers to frequently asked questions (FAQs) on the Share Class Selection Disclosure Initiative, providing additional information about adviser eligibility, disgorgement, and the distribution of funds to clients.
The Share Class Selection Disclosure (SCSD) Initiative, announced on February 12, seeks to protect advisory clients from and return money to those affected by undisclosed conflicts of interest.
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Source: SEC.gov
AdvisorShares Active ETF Report: First Quarter of 2018
April 30, 2018--Month ending 03.31.2018
Report Highlights
The first quarter of 2018 saw the
return of volatility to the equity
markets. This led to a decline in
the broad indexes, a flattening of the
yield curvem and several billion in
ETP equity wiped out when the
CBOE Volatility Index (VIX) spiked
more than 100% on February 5th.
Asset for actively managed ETFs
grew by 11% in the first quarter, far
outpacing the rest of the industry's
1.78% growth.
Assets in actively managed ETFs grew by $1.59 billion in March to $51.01 billion, despite domestic equity markets continuing to struggle. For the first quarter, the total AUM gain for actively managed ETFs was $5.15 billion. There was a net gain of nine new funds in March, which brings the total of Active ETFs to 222.
Assets for the entire ETF industry contracted by $534 million in March due primarily to an $8 billion decline for US Equity. International Equity, US Fixed Income and Leveraged all had growth exceeding $1 billion according to FactSet. Year to date growth for the industry was $60 billion, with $40 billion from International Equity alone.
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Source: AdvisorShares
AdvisorShares Weekly Market Review-Detente On The Korean Peninsula?
April 30, 2018--Highlights of the Week Ending 4/27/2018
Macro
In what would seem to be an epic development, peace may be coming to the Korean peninsula after seven decades. The two sides say they have agreed to end the war (there hasn't actually been fighting in a long time of course) and to denuclearize among other things.
This could be important economically for the two Koreas from the standpoint that the South has roughly 50 million people and the North has 25 million, not huge globally but important locally. We will hope that this actually happens but admit to being puzzled as to why there wasn't a bigger reaction in the markets. When it appeared tensions were escalating markets declined some, even if not for long.
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Source: AdvisorShares
Report On Foreign Portfolio Holdings Of U.S. Securities
April 30, 2018--The final results from the annual survey of foreign portfolio holdings of U.S. securities at the end of June 2017 were released today on the Treasury website. The survey was undertaken jointly by Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. The next survey will cover holdings at the end of June 2018; preliminary data are expected to be released by February 28, 2019.
Complementary surveys measuring U.S. holdings of foreign securities are also carried out annually. Data from the most recent survey, reporting on securities held at year-end 2017, are currently being processed. Preliminary results are expected to be reported by August 31, 2018.
The survey measured the value of foreign portfolio holdings of U.S. securities as of June 30, 2017, to be $18,409 billion, with $7,189 billion held in U.S. equities, $10,290 billion in U.S. long-term debt securities [/1] (of which $1,262 billion are holdings of asset-backed securities (ABS) [/2] and $9,028 billion are holdings of non-ABS securities), and $930 billion held in U.S. short-term debt securities.
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Source: treasury.gov
CFTC.gov Commitments of Traders Reports Update
April 27, 2018--The current reports for the week of April 27, 2018 are now available.
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Source: CFTC.gov
Toronto Stock Exchange Shuts Down Early on TMX Market Issues
April 27, 2018--TMX Group Ltd. was forced to shut down the Toronto Stock Exchange and its derivatives market early after the owner of Canada's largest bourses experienced technical problems for most of the afternoon. Trading is expected to resume Monday.
Trading stopped at 1:39 p.m., and the exchange operator later said on Twitter that the bourse won't re-open for the day. Fewer than 575 million Canadian shares traded Friday, the slowest session since July 24, according to data compiled by Bloomberg.
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Source: Bloomberg
