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AdvisorShares Weekly Market Review-Market Up, VIX Down; We Know, It’s Shocking!
November 27, 2017--Highlights of the Week Ending 11/24/2017
Macro
The list of factors with the potential to influence markets appears to be getting longer and some of those factors seem to be moving in a more serious direction but no matter, equities continue to rally.
The Dow Jones Industrial Average gained 0.86%, the S&P 500 added 0.93%, the NASDAQ jumped 1.57% and the Russell 2000 was up 1,72% while the VIX fell to 9.65. Bespoke Investment Group reported over the weekend that the market is in its longest streak by far where more than 40% of the index's constituents are above their respective 50 day moving averages going back to 1990. Although the title of this week's update is an attempt to be funny, it reiterates an important point.
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Source: AdvisorShares
Manulife Investments Launches Two New Multifactor ETFs
November 27, 2017--Manulife today announced two new Manulife Exchange Traded Funds (ETFs) have closed their initial offering of units and will begin trading on the Toronto Stock Exchange today.
Manulife Investments will offer two new multifactor ETFs sub-advised by Dimensional Fund Advisors Canada ULC.
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Source: Manulife Investments
Higher inflation on the horizon? Investors reach for TIPS funds
November 27, 2017--Investors last week poured into funds that provide protection against higher US inflation in a sign that some money managers expect a tight labour market and strong economy to finally halt a long stretch of muted price growth.
Funds that hold inflation-protected Treasuries (TIPS) garnered $1.2bn in net inflows in the week to November 22, according to Bank of America Merrill Lynch calculations based on EPFR data.
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Source: FT.com
Renaissance Capital Scheduled U.S. IPOs-Week of 11/27/17
November 27, 2017----U.S. IPOs-Week of 11/27/17
IPO Commentary
US IPO Week Ahead: Another quiet week before 2017 final stretch: taking a look at what could launch
There are no deals on the calendar in another quiet week ahead of an anticipated pre-holiday IPO flurry. We believe we are on pace to see roughly 160 IPOs in 2017, up 52% from last year, as companies look to price before...
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Source: Renaissance Capital
BlackRock and Vanguard are smart beta's biggest winners
November 27, 2017--BlackRock's smart beta assets have ballooned by almost 180 per cent to $288bn over the past five years, leaving rival asset managers scrambling to close the gap on the world's largest fund house.
The figures, collected by Morningstar, the data provider, show the New York-listed investment manager and its chief rival, Vanguard, have been the big winners when it comes to the growth of smart beta.
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Source: FT.com
EMQQ, The First Broad-Based Emerging Markets Internet and Ecommerce ETF, Marks Third Anniversary
November 22, 2017--Fund is up over 68% in 2017 and now has more than $300 million in AUM; top holdings include Alibaba, Tencent, Mercado Libre and Yandex
EMQQ, the first broad-based emerging markets Internet and Ecommerce exchange traded fund (ETF), marked its third anniversary earlier this month. As of November 13, 2017, the fund had $347.57 million in assets under management, and had returned an average of 14.92% annually since launch, compared to 10.24% percent for the S&P 500 and 5.70% percent for the MSCI Emerging Markets Index.
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Source: Exchange Traded Concepts, LLC
Minutes of the Federal Open Market Committee, October 31-November 1, 2017
November 22, 2017--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on October 31-November 1, 2017.
Staff Review of the Economic Situation
The information reviewed for the October 31-November 1 meeting indicated that labor market conditions generally continued to strengthen and that real gross domestic product (GDP) expanded at a solid pace in the third quarter despite hurricane-related disruptions. Although the effects of the recent hurricanes led to a reported decline in payroll employment in September, the unemployment rate decreased further. Retail gasoline prices jumped in the aftermath of the hurricanes, but total consumer price inflation, as measured by the 12‑month percentage change in the price index for personal consumption expenditures (PCE), remained below 2 percent in September and was lower than early in the year. Survey-based measures of longer-run inflation expectations were little changed on balance.
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Source: federalreserve.gov
Mackenzie broadens ETF line-up with proven portfolio management expertise combined with flexibility and liquidity
November 22, 2017--Mackenzie Financial Corporation (Mackenzie Investments) announced the launch today of three new Exchange Traded Funds (ETFs) that broaden choice, opportunity and diversification for investors.
"We are very excited to expand our ETF shelf with these new products, delivering solutions to investors that offer the benefits of our portfolio management expertise plus the structural benefits unique to ETFs including liquidity and flexibility," said Michael Cooke, Senior Vice President and Head of Exchange Traded Funds at Mackenzie Investments.
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Source: Mackenzie Financial Corporation
CFTC.gov Swaps Report Update
November 22, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Maybe Bitcoin Isn't Untouchable at J.P. Morgan After All
November 21, 2017--J.P. Morgan weighs helping clients trade bitcoin futures, despite CEO Jamie Dimon's criticism of the cryptocurrency
J.P. Morgan Chase & Co. Chief Executive James Dimon has said that if any of the bank's traders bought or sold bitcoin, he would "fire them in a second."
But that isn't stopping the bank from looking at business opportunities in the planned bitcoin-futures market.
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Source: Wall Street Journal
