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Thomson Reuters-U.S. Fund-Flows Weekly Report: Equity Funds Drive Net Outflows
March 23, 2018--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) suffered negative net flows of $6.7 billion for the fund-flows week ended Wednesday, March 21.
Equity funds (-$9.6 billion) accounted for the lion's share of the net outflows, while money market funds (-$305 million) also saw money leave their coffers.
The taxable bond funds (+$2.8 billion) and municipal debt funds (+$445,000) macro-groups both took in net new money for the week.
The S&P 500 Index and the Dow Jones Industrial Average were both down for the fund-flows trading week; the S&P retreated 1.37%, while the Dow was off 0.31%. These results reduced the S&P's year-to-date gain to 1.43%, while the Dow saw its year-to-date performance fall into the red (-0.15%). Both indices suffered all of their losses for the week on one trading day (March 19), thanks to controversy over Facebook.
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Source: Thomson Reuters
BlackRock Unveils 7 A.I.-Powered Sector ETFs
March 23, 2018--BlackRock (BLK) launched a suite of sector exchange-traded funds driven by artificial intelligence on Friday.
iShares Evolved U.S. Technology (IETC), iShares Evolved U.S. Consumer Staples (IECS), iShares Evolved U.S. Discretionary Spending (IEDI), iShares Evolved U.S. Financials (IEFN), iShares Evolved U.S. Healthcare Staples (IEHS), iShares Evolved U.S. Innovative Healthcare (IEIH), and iShares Evolved U.S. Media and Entertainment (IEME) were listed on the Cboe BZX Exchange.
BlackRock's so-called evolved classification system will balance "sector evolution driven by changing businesses" while sticking to the traditional categories, such as the Global Industry Classification Standard developed by MSCI and Standard & Poor's.
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Source: Barron's
SerenityShares Names ETF Veteran Reed Williams as ESVP, National Sales Director
March 23, 2018--SerenityShares Investments, an exchange-traded fund ("ETF") sponsor, and leader in socially responsible impact ETFs, is pleased to announce that Reed Williams, a 16-year ETF veteran, has joined the firm as Executive Senior Vice President and National Sales Director.
Mr. Williams will be responsible for defining and leading the execution of SerenityShares' impact investing sales strategy.
Most recently, Mr. Williams spent more than 10 years with WisdomTree Investments, a leading global asset manager and pioneer of both smart beta and actively managed ETF investing.
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Source: serenityshares.com
First Trust Launches the First Trust Indxx Innovative Transaction and Process ETF
March 23, 2018--An index-based ETF that provides exposure to companies that are actively involved in blockchain technology
FT Portfolios Canada Co. ("First Trust Canada"), a privately owned company is pleased to announce the launch of the First Trust Indxx Innovative Transaction and Process ETF (TSX:BLCK).
The First Trust Indxx Innovative Transaction and Process ETF seeks to replicate, to the extent possible, the performance of an innovative transaction and process index. Currently, the First Trust Indxx Innovative Transaction and Process ETF seeks to replicate, to the extent possible, the performance of the Indxx Blockchain Index, net of expenses.
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Source: First Trust
Renaissance Capital-Scheduled U.S. IPOs this week
March 23, 2018--Scheduled U.S. IPOs- Week of 03/26/18
iQIYI (IQ)-China
Deal Size: $2,250 mil Exchange: Nasdaq
Lead Underwriter: Goldman Sachs (Asia)
Chinese online video streaming platform owned by Baidu.
Bilibili (BILI)-China
Deal Size: $483 mil Exchange: NYSE
Lead Underwriter: Morgan Stanley
Provides an anime-themed video sharing and mobile gaming platform in China.
IPO Index Performance
The Renaissance IPO Index has returned 3.2% so far this year,
compared to -1.1% for the S&P 500.
IPOUSA
There have been 36 IPOs priced so far this year, a +44% change from last year.
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Source: Renaissance Capital
Dry Bulk Shipping ETF, Ticker: BDRY-Launches as the First Freight Futures ETF
March 22, 2018--Breakwave Advisors, in partnership with ETF Managers Group (ETFMG), launches the Breakwave Dry Bulk Shipping ETF (NYSE Arca: BDRY).
The Fund is the first and only freight futures exchange-traded product focusing exclusively on dry bulk shipping. BDRY provides investors direct access to an instrumental part of the global commodity market, that historically has been uncorrelated-with other major asset classes. All ETF product information is available at the URL www.drybulketf.com.
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Source: ETF Managers Group (ETFMG)
U.S. soybeans would be China's biggest weapon in a trade war
March 22, 2018--Import tariffs announced by the Trump administration threaten to spark a global trade war that could put a dent in the U.S. agricultural market-and domestic soybean prices could suffer the most.
U.S. trading partners world-wide have threatened to retaliate against tariffs on steel and aluminum and have voiced similar sentiments about previously announced import tariffs on residential washing machines, as well as solar cells and modules, earlier this year.
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Source: Market Watch
Federal Reserve issues FOMC statement
March 21, 2018--Information received since the Federal Open Market Committee met in January 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 in recent months, and the unemployment rate has stayed low. Recent data suggest that growth rates of household spending and business fixed investment have moderated from their strong fourth-quarter readings. On a 12-month basis, both overall inflation and inflation for items other than food and energy have continued to run below 2 percent. Market-based measures of inflation compensation have increased in recent months but remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
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Source: federalreserve.gov
Why the Fed Raised Rates for the Sixth Time in Three Years
March 21, 2018--As expected, the Federal Reserve on Wednesday raised its benchmark interest rate to a range between 1.5 percent and 1.75 percent.
As the Fed continues to move away from its post-crisis stimulus campaign, it was the first change in monetary policy under the new chairman appointed by President Trump: Jerome H. Powell.
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Source: NY Times
CFTC.gov Swaps Report Update
March 21, 2018--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
