Americas ETP News
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America's Top Bond Manager Never Falls in Love
July 5, 2017--Pimco's Kiesel keeps a sharp eye on debt metrics and doesn't get carried away.
The best manager of bonds in America refuses to pay full price. He buys his clothes once a year to get a 40 percent discount.
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Source: Bloomberg
Minutes of the Federal Open Market Committee, June 13-14, 2017
July 5, 2017--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 13-14, 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
The Nasdaq glitch explained
July 4, 2017--Amazon, Microsoft and Apple among equities converging at $123.47 after data error
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Source: FT.com
AdvisorShares Weekly Market Review-Jawboning Works
July 3, 2017--AdvisorShares Weekly Market Review-Highlights of the Week Ending 6/30/2017
Macro
For weeks, months even, there was a meaningful flattening trend in the US Treasury market which was at odds with the FOMC's long stated intention to hike its rates three times in 2017 with two under its belt already.
A market ripple came after jawboning comments from Janet Yellen, Mario Draghi and even Mark Carney.
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Source: AdvisorShares
The Forum at ETF Research Center-July 2017 Sector SPDR Analyzer
July 3, 2017--Notable This Month:
The recent pullback in certain "FANG" stocks notwithstanding, the Tech rally in 1H17 has pushed valuations well above their range of the past few years.
The recent pullback in certain “FANG” stocks notwithstanding, the Tech rally in 1H17 has pushed valuations well above their range of the past few years, which in turn has diminished future appreciation potential to just slightly above average in our opinion. That said, the sector's margins and ROE remain exceptionally high, with long-term EPS growth expectations modestly better than the S&P 500 overall.
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Source: AltaVista Research
Data glitch: Google, Yahoo finance sites display incorrect stock market prices
July 3, 2017--Incorrect market data appeared on sites such as Google Finance, Yahoo Finance and Bloomberg terminals in early Asia hours on Tuesday.
Nasdaq-listed stocks such as Apple, Google, Amazon and Microsoft all showed prices of $123.47 each.
Nasdaq told CNBC that glitch was due to test results being mistakenly distributed by third parties.
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Source: CNBC.com
Morningstar ETF Managed Portfolios Landscape--Q1 2017
July 1, 2017--Assets in ETF managed portfolios increased in the first quarter of 2017. At the end of March, strategies in Morningstar's database had collective assets under management and assets under advisement of $99.7 billion.
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Source: Morningstar, Inc.
TrimTabs launches international free cash flow ETF
June 30, 2017--New York-based investment manager TrimTabs Asset Management has launched the TrimTabs All Cap International Free-Cash-Flow ETF (Bats: TTAI), an actively managed fund investing in non-US developed market stocks that are both generating free cash flow, reducing their share count without the use of leverage, and maintaining healthy balance sheets.
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Source: etfstrategy.co.uk
Renaissance Capital US IPO Market 2Q 2017 Quarterly Review-Most Active IPO Market in Two Years
June 30, 2017--The US IPO market's 2017 recovery gained momentum in the second quarter, with 52 IPOs raising $11 billion, a two-year high in terms of deal count and proceeds. Just halfway through the year, the 2017 IPO market has raised more capital than all of 2016.
Sectors were broadly represented, with a large pickup in growth names in technology and health care, which accounted for 50% of IPOs. The energy sector ground to a halt as oil prices continued their decline. Most sectors traded positive, though tech IPOs drove the average return up to 11%, the seventh-consecutive quarter with double-digit gains. Notable names like Altice USA and Floor & Decor offered investors market leaders with large scale and growth.
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Source: Renaissance Capital
State Street Global Advisors to Close 19 ETFs
June 30, 2017--State Street Global Advisors, the asset management arm of State Street (STT) announced that it was planning to close and liquidate 19 exchange-traded funds after the market's close on Friday.
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Source: Barron's
