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Federal Reserve Issues FOMC Statement
July 27, 2016--Information received since the Federal Open Market Committee met in June indicates that the labor market strengthened and that economic activity has been expanding at a moderate rate. Job gains were strong in June following weak growth in May.
On balance, payrolls and other labor market indicators point to some increase in labor utilization in recent months. Household spending has been growing strongly but business fixed investment has been soft. Inflation has continued to run below the Committee's 2 percent longer-run objective, partly reflecting earlier declines in energy prices and in prices of non-energy imports.
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Source: Federal Reserve
CBOE To List SPX Monday-Expiring Weeklys Options
July 27, 2016--Monday Weeklys Provide Investors With Additional Tool for Hedging Over-the-Weekend Risks
Introduction of Monday Weeklys Follows Successful Launch of Wednesday Weeklys in February
The Chicago Board Options Exchange(R) (CBOE(R)) today announced that it plans to list S&P 500(R) Index (SPX) Monday-expiring WeeklysSM options, beginning August 15, 2016, pending regulatory approval.
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Source: CBOE
CFTC's Weekly Swaps Report has been updated, and is now available.
July 27, 2016--The CFTC Swaps Report provides a detailed weekly snapshot of the gross notional outstanding as of the penultimate Friday prior to the CFTC Swaps Report's Wednesday publication date, as well as a detailed weekly total of the transaction volume (on both a ticket volume and dollar volume basis) ending that same penultimate Friday, in two asset classes (interest rate swaps, credit default swaps).
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Source: CFTC.gov
Direxion Launches Two ETFs to Expand Leveraged and Inverse Lineup
July 27, 2016--New ETFs Offer 2X Bull Exposure to European Financials and Single Inverse Exposure to Gold Miners
Direxion announced today it has added two new ETFs to its existing lineup of leveraged and inverse ETFs.
The Direxion Daily European Financials Bull 2X Shares (Ticker: EUFL) seeks to achieve 200% of the daily performance of the MSCI Europe Financials Index.
The Direxion Daily Gold Miners Index Bear 1X Shares (Ticker: MELT) seeks to achieve 100% of the inverse of the daily performance of the NYSE Arca Gold Miners Index.
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Source: Direxion
Direxion Announces Reverse and Forward Share Splits of Nine Leveraged ETFs
July 26, 2016--Direxion has announced it will execute reverse share splits for four of its leveraged exchange-traded funds ("ETFs"), as well as forward share splits for another five leveraged ETFs.
The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.
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Source: Direxion
US interest rate benchmark hits 7-year high ahead of new rules
July 26, 2016--Rise comes ahead of new rules for money market funds that invest in short-term bonds.
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Source: FT.com
Economists argue for taxing trades
July 26, 2016--Two reports published Thursday by progressive think tanks back a financial transactions tax (FTT), arguing that such a tax on trades could make the financial sector more helpful to all Americans.
"If the tax is dedicated to funding higher education, as some have suggested, this would amount to transferring resources from the financial sector to the education sector,"
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Source: thehill.com
O'Shares FTSE US Quality Dividend ETF outperforms S&P 500 in its first year
July 26, 2016--Boston-based investment manager O'Shares Investments has announced that its smart beta fund, the O'Shares FTSE US Quality Dividend ETF (NYSE Arca: OUSA), outperformed the S&P 500 by 10.5% in the 12 months since its inception on 14 July last year.
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Source: etfstrategy.co.uk
OFR Financial Stability Assessment: Risks in Medium Range But U.K. Vote Weighs
July 25, 2016--The U.S. Office of Financial Research released today its mid-year summary assessment of threats to U.S. financial stability, concluding that overall risks remain in the medium range but have been pushed higher by the United Kingdom vote to exit the European Union.
"The result of the U.K. referendum surprised financial markets and was a negative shock to investor confidence. It introduces months or years of uncertainty about the rules governing the U.K.'s investment, financing, and trade relations with Europe and the rest of the world," said OFR Director Richard Berner.
view the Risks Still in the Medium Range, But Pushed Higher by U.K. Referendum Result report
Source: OFR (Office of Financial Research)
AdvisorShares Weekly Market Update-Surprised That There Were No Surprises
July 25, 2016--Highlights of the Prior week of July 18-July 22
Macro
The Republican National Convention came and went with no surprises. While there was talk, or idle speculation, of an attempted "coup" no such thing materialized. The presumptive nominee going in is now the nominee.
In this report we don't wade in with political opinion, we are simply
stating that there were no surprises and the markets were flat with an upside bias because of it...maybe, explanation fallacy would say it is futile to attribute movement to specific
events or, as the case may be, non-events. Stay tuned for
the Democratic version this week.
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Source: AdvisorShares
