Americas ETP News
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Minutes of the Federal Open Market Committee, September 19-20, 2017
October 11, 2017--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 19-20, 2017. 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.
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Source: federalreserve.gov
Millennials Suffering From Financial Anxiety
October 11, 2017--A variety of financial obstacles ranging from sticking to a budget to saving for the future are keeping Millennials up at night, according to a study by Wells Fargo.
A recent survey by Wells Fargo found the Millennial generation's top 3 financial intimidators include saving for the future, knowing how to invest money and sticking to a budget. However, 77% lack a financial adviser. Of this group, 39% said they wanted one.
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Source: planadviser.com
Four Additional First Trust ETFs Approved for Sale in Mexican Pension Plans
October 11, 2017--First Trust Advisors L.P. ("First Trust") a global exchange-traded fund (ETF) provider and asset manager, announced that the Mexican pension funds investment regulator, La Comisión Nacional del Sistema de Ahorro para el Retiro (CONSAR), has approved four additional First Trust ETFs for sale to Mexican funded pensions, known as AFORES.
In accordance with Mexico's pension plan investment guidelines, CONSAR must approve an ETF before it can be purchased in a pension fund. They previously approved seven First Trust ETFs, which are listed below along with the four newly approved ETFs.
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Source: First Trust Advisors L.P
SEC Proposes Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure
October 11, 2017--The Securities and Exchange Commission today voted to propose amendments to modernize and simplify disclosure requirements for public companies, investment advisers, and investment companies and to implement a mandate under the Fixing America's Surface Transportation (FAST) Act.
The proposed amendments would make adjustments to update, streamline or otherwise improve the Commission's disclosure framework.
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Source: SEC.gov
BMO Asset Management Inc. Launches First ETF in Canada to Provide Exposure to Robert Shiller's CAPE Ratio
October 11, 2017-New ETF (Ticker: ZEUS) leverages an equal-weight strategy that combines value and momentum
BMO AM also introduces a suite of value ETFs, plus the first ETF in Canada to offer access to unhedged U.S. high yield bonds
BMO AM's ETF business now stands at 95 ETF listings in Canada
BMO Asset Management Inc. (BMO AM) today introduced five new Exchange Traded Funds (ETFs).
Among the new funds is BMO Shiller Select US Index ETF (Ticker: ZEUS), a Canadian industry-first ETF that offers exclusive access to the Cyclically Adjusted Price Earnings (CAPE) methodology-an equal-weight strategy that combines value and momentum, leveraging the research of Professor Robert Shiller.
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Source: BMO Financial Group
CFTC.gov Swaps Report Update
October 11, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
ETFGI reports assets invested in ETFs/ETPs listed in the United States have increased 24.2% in 2017 to reach a new record of US$3.166 trillion at the end of September 2017
October 10, 2017--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in ETFs/ETPs listed in the United States have increased 24.2% in the first 9 months of the year to reach a new record of US$3.166 trillion at the end of September 2017, according to ETFGI's September 2017 preliminary US ETF and ETP industry insights report.
The US ETF/ETP industry had 2,035 ETFs/ETPs, assets of US$3.166 trillion, from 117 providers on 4 exchanges.
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Source: ETFGI
Change Finance Launches CHGX, Impact Investing ETF
October 10, 2017--First truly fossil fuel-free ETF utilizes diversified impact screens
Change Finance, a majority women-run asset manager, today announced the launch of its first ETF. The Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free ETF (NYSE: CHGX) is the only ETF that uses diversified impact screens to look beyond excluding fossil fuels, taking a comprehensive approach to socially responsible investing.
CHGX's methodology is informed by the United Nations Sustainable Development Goals (SDGs). These internationally agreed-upon standards seek to eradicate poverty, protect planetary life support, and achieve lasting peace and dignity for humanity.
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Source: Change Finance
AdvisorShares Weekly Market Review-Jobs Weak, Market Doesn't Care
October 10, 2017--Highlights of the Week Ending 10/6/2017
Macro
The jobs report was widely expected to be impacted by the hurricanes but the effect was more than expected, showing a decline of 33,000 jobs versus estimates ranging from 80,000-90,000.
The headline unemployment rate actually dropped a tick to 4.2% while the labor force participation rate increased to 63.1%. The broader U6 unemployment rate came in at 8.3% and revisions from the previous two months were a negative 38,000. Perhaps most interesting is that wages moved up out of its multi-month rut of 0.2/2.5 to show a gain in September of 0.5% with the year over year number at 2.9% which would appear to provide some cover for a December rate hike. Barron's offered a counter opinion from the Liscio Report that jobs lost were lower paying jobs because of the storm thus making the wage boost an anomaly to be subsequently reversed.
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Source: AdvisorShares
Fair Access to Investment Research Act of 2017 Signed Into Law
October 10, 2017--On October 6, 2017, President Trump signed into law the Fair Access to Investment Research Act of 2017 (FAIR).
Under this law the Securities and Exchange Commission (SEC) is to establish and implement a "safe harbor" for research reports issued by broker-dealers which will allow broker-dealers to provide research reports on Exchange Traded Funds (ETFs), provided they meet certain requirements.
An ETF is a marketable security that tracks a stock index, a commodity, bonds, or a basket of assets like an index fund and trades like a common stock on a stock exchange. Under current law, this type of report is considered an offering for sale and a broker-dealer is required to file a registration statement for that offering.
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Source: withum.com
