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CFTC.gov Swaps Report Update
February 8, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Infographic-The Federal Budget in 2016: An Infographic
February 8, 2017--The federal deficit in 2016 was $587 billion, equal to 3.2 percent of gross domestic product.
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Source: Congressional Budget Office (CBO)
Merk Investments U.S. Exorbitant Privilege At Risk?!
February 8, 2017--If the road to hell is paved with good intentions, America's exorbitant privilege might be at risk with broad implications for the U.S. dollar and investors' portfolios. Let me explain.
The U.S. was the anchor of the Bretton Woods agreement that collapsed when former President Nixon ended the dollar's convertibility into gold in 1971. Yet even when off the remnants of the gold standard, the U.S. has continued to be the currency in which many countries hold their foreign reserves. Why is that, what are the benefits and what are the implications if this were under threat?
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Source: Merk Investments
Retirement accounts a 'holy grail' that remain out of reach for ETFs
January 7, 2017--Since their debut in 1993, ETFs have grown to become a massive part of the financial industry, accounting for trillions of dollars in assets and spearheading the shift to index-based investing, but there's a key area where they have yet to make much headway: retirement accounts.
While asset flow trends suggest that exchange-traded funds will overtake the mutual fund industry in size in a matter of years, their lack of adoption in retirement funds, including 401(k)s and individual retirement accounts (IRAs), indicates an issue that could keep trillions of dollars in mutual funds for decades to come.
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Source: www.marketwatch.com
CBO-Monthly Budget Review for January 2017
February 7, 2017--The federal budget deficit was $159 billion for the first four months of fiscal year 2017, the Congressional Budget Office estimates-$1 billion less than the shortfall recorded during the same span last year.
But that result was affected by shifts in the timing of certain payments that otherwise would have been due on a weekend. If not for those shifts, the deficit for the first four months of fiscal year 2017 would have been $40 billion larger than that recorded for the same period last year.
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Source: Congressional Budget Office (CBO)
Regulator warns of enforcement over NYSE's 2015 outage-ICE
February 7, 2017--The New York Stock Exchange received notice that staff at the top U.S. securities regulator recommended an enforcement action against the exchange related to a nearly four-hour trading halt on July 8, 2015, NYSE's parent company said on Tuesday.
The results of the notice from the Securities and Exchange Commission and any enforcement action related to the outage are unknown at this time, NYSE owner Intercontinental Exchange Inc said following the release of its financial results.
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Source: Reuters
AdvisorShares-This Week in Active ETFs: A Job Report for Everybody!
February 6, 2017--Weekly Market Review - Highlights of the Prior week of January 30 to February 03, 2017
Macro
The Friday jobs report had something for everyone with a mix of strong and weak data. There were 227,000 new jobs created in January, which beat the Bloomberg consensus of 180,000.
The headline unemployment rate printed at 4.8%, which was a
slight uptick from December, and the U6 came in at 9.4%. There
was also an uptick in the labor force participation rate to 62.9%,
which can be taken as a positive with people feeling optimistic
enough to again look for work in the belief that a job can be had.
Wages were the big disappointment, increasing by only 0.1%
while previously reported wages gains were revised lower, to
0.2% from 0.4%.
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Source: AdvisorShares
Solactive announces the launch of the Solactive GLD(R) Long USD Gold Index
February 6, 2017--Used as the basis for the SPDR(R) Long Dollar Gold Trust (GLDW) trading on the NYSE Arca.
Solactive AG is delighted to announce that the Solactive GLD(R) Long USD Gold Index is being used as the basis for the new SPDR(R) Long Dollar Gold Trust (GLDW) exchange traded fund, which is trading on the NYSE Arca. The index provides a compelling way to remove the potential impact of the US dollar on gold prices by allowing investors to own gold in terms of a basket of non-US currencies including euro, Japanese yen, British
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Source: solactive.com
Thompson Hine Update: Labor Department Directed to Examine Final Fiduciary Rule
Investment Management Update
February 6, 2017--We are writing to update you on the status of the Department of Labor's final fiduciary rule (Final Rule). Currently, the Final Rule is scheduled to become applicable on April 10, 2017, with additional requirements effective January 1, 2018.
Last Friday President Trump issued a presidential memorandum regarding the Final Rule, noting that the rule "may significantly alter the manner in which Americans can receive financial advice, and may not be consistent with the policies of my Administration."
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Source: Thompson Hine
CFTC.gov Commitments of Traders Reports Update
February 3, 2017--The current reports for the week of January 31, 2017 are now available.
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Source: CFTC.gov
