Americas ETP News
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Evolve Enters into Agreement to Purchase ETF Management Contracts from Sphere
November 1, 2017--Evolve Funds Group Inc. ("Evolve"), a Canadian Exchange Traded Fund provider, today announced that it has entered into an agreement with Sphere Investment Management Inc. ("Sphere"), to purchase the management contracts for each of the following five Sphere listed Exchange Traded Funds ("ETFs"):
Sphere FTSE Canada Sustainable Yield Index ETF (TMX: SHC)
Sphere FTSE US Sustainable Yield Index ETF (TMX: SHU)
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Source: Evolve Funds Group Inc.
Federal Reserve issues FOMC statement
November 1, 2017--Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions
Although the hurricanes caused a drop in payroll employment in September, the unemployment rate declined further. Household spending has been expanding at a moderate rate, and growth in business fixed investment has picked up in recent quarters. Gasoline prices rose in the aftermath of the hurricanes, boosting overall inflation in September; however, inflation for items other than food and energy remained soft. On a 12-month basis, both inflation measures have declined this year and are running below 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
CME Group Announces Launch of Bitcoin Futures
October 31, 2017--CME Group, the world's leading and most diverse derivatives marketplace, today announced it intends to launch bitcoin futures in the fourth quarter of 2017, pending all relevant regulatory review periods.
The new contract will be cash-settled. based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME
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Source: CME Group
ETF price wars deepen as Deutsche cuts fees at flagship fund
October 31, 2017--Deutsche Bank's asset management trimmed the expense ratio of its $281m Xtrackers USD High Yield Corporate Bond ETF from 25 basis points to 20bp, making it about half as expensive as the two big junk bond ETFs from BlackRock and State Street.
That means it costs 20 cents annually to buy $100 worth of the ETF.
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Source: FT.com
Report On U.S. Portfolio Holdings Of Foreign Securities At End-Year 2016
October 31, 2017--The findings from the annual survey of U.S. portfolio holdings of foreign securities at year-end 2016 were released today and posted on the Treasury web site.
Overall Results
This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2016 as approximately $9.9 trillion, with $7.1 trillion held in foreign equity, $2.4 trillion held in foreign long-term debt securities (original term-to-maturity in excess of one year), and $0.3 trillion held in foreign short-term debt securities.
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Source: treasury.gov
Cboe Welcomes New Issuer Sage Advisory to Marketplace with Launch of ESG ETF
October 31, 2017--Cboe Global Markets, Inc. (Cboe: CBOE | NASDAQ: CBOE), one of the world's largest exchange holding companies, today welcomed new issuer Sage Advisory to the Cboe ETF Marketplace with the launch the Sage ESG Intermediate Credit ETF (Cboe: GUDB).
The Sage ESG Intermediate Credit ETF seeks to replicate investment results that generally correspond, before fees and expenses, to the performance of the Sage ESG Intermediate Credit Index, as launched in August 2017.
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Source: Cboe Global Markets, Inc. and Sage Advisory
Inspire Launches New Biblical ETF at Reduced Fee
October 31, 2017--At just 0.35% expense ratio, discounted by Inspire from a total expense of 0.61%, the Inspire 100 ETF [NYSE: BIBL] is Inspire's lowest cost biblical ETF to date.
Inspire Investing launches its lowest-cost biblically responsible exchange traded fund (ETF) today-their fourth in just eight months-building on the success of their previous biblical ETFs and continuing their aggressive effort to advance the biblically responsible investing (BRI) movement.
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Source: Inspire Investing
CLS Investments Partners with Premier ETF Providers to Launch Zero-Fee 'Smart ETF Models'
October 31, 2017--First of its kind, disruptive models utilize products from five ETF issuers at zero-percent strategist fee
CLS Investments, LLC ("CLS"), a third-party money manager and leading manager of exchange traded fund ("ETF") portfolios, launched Smart ETF Models, which utilize products from five ETF providers at a zero-percent strategist fee.
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Source: CLS Investments, LLC
OFR-The Intersection of U.S. Money Market Mutual Fund Reforms, Bank Liquidity Requirements, and the Federal Home Loan Bank System
October 31, 2017--After the financial crisis, reforms of money market funds and changes to banks' liquidity requirements had an unintended consequence of increased Federal Home Loan Banks' reliance on short-term funding from money market funds to finance longer-term loans and other assets.
This increase could make the financial system more vulnerable and pose risks to financial stability. (Working Paper no. 17-05)
Executive Summary
The most recent changes to money market fund regulations have had a strong impact on the money fund industry. In the months leading up to the compliance date of the core provisions of the amended regulations, assets in prime money market funds declined significantly, while those in government funds increased contemporaneously.
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Source: OFR (Office of Financial Research)
IMF Working paper-How Financial Conditions Matter Differently across Latin America
October 30, 2017--Summary:
This paper develops comparable financial conditions indices (FCIs) for the six large and most financially-integrated Latin American economies (LA6) by following Korobilis (2013) and Koop and Korobilis (2014).
The main findings are as follows. First, the estimated FCIs are influenced by a commodity cycle, a global financial cycle, as well as country-specific episodes of financial distress. Second, by early 2017, financial conditions remained favorable in most LA6 economies relative to historical standards. Third, the impact of financial shocks on economic activity widely varies across LA6 and is otherwise found to be stronger in periods of financial stress. Fourth, exposure to regional financial spillovers also differs across LA6.
view the IMF Working paper-How Financial Conditions Matter Differently across Latin America
Source: IMF
