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CFTC.gov Swaps Report Update
October 12, 2016--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Vanguard introduces two low cost currency hedged ETFs
October 11, 2016--Vanguard Investments Canada Inc. today announced the launch of two new low-cost currency hedged exchange-traded funds(ETFs). The Vanguard FTSE Developed Asia Pacific All Cap Index ETF (CAD-hedged) and the Vanguard FTSE Developed Europe All Cap Index ETF (CAD-hedged) begin trading on the TSX today.
The new ETFs provide currency hedged exposure to developed Asia Pacific and European markets and follow all-capitalization benchmarks that include large-, mid-, and small-capitalization stocks.
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Source: Vanguard
SEC Announces Enforcement Results for FY 2016
October 11, 2016--The Securities and Exchange Commission today announced that, in fiscal year 2016, it filed 868 enforcement actions exposing financial reporting-related misconduct by companies and their executives and misconduct by registrants and gatekeepers, as the agency continued to enhance its use of data to detect illegal conduct and expedite investigations.
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Source: SEC.gov
Treasury and Federal Reserve Support Adoption of The G-7 Fundamental Elements of Cybersecurity for The Financial Sector
October 11, 2016--Today, the U.S. Department of the Treasury and the Board of Governors of the Federal Reserve System welcomed publication of the Group of 7 (G-7) Fundamental Elements of Cybersecurity for the Financial Sector.
The finance ministers and central bank governors of the G-7 countries today released the fundamental elements, which provide a concise set of principles on best practices in cybersecurity for public and private entities in the financial sector.
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Source: treasury.gov
What Is the New Normal for U.S. Growth?
October 11, 2016--Estimates suggest the new normal for U.S. GDP growth has dropped to between 1½ and 1¾, noticeably slower than the typical postwar pace.
The slowdown stems mainly from demographics and educational attainment. As baby boomers retire, employment growth shrinks. And educational attainment of the workforce has plateaued, reducing its contribution to productivity growth through labor quality. The GDP growth forecast assumes that, apart from these effects, the modest productivity growth is relatively "normal"-in line with its pace for most of the period since 1973.
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Source: Federal Reserve Bank of San Francisco
AdvisorShares Announces the Closing of Fund
October 10, 2016--AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares EquityPro ETF (NYSE Arca: EPRO) will close.
The AdvisorShares Board of Trustees approved the closing and subsequent liquidation of EPRO. The fund's last day of trading will be October 21, 2016, which will also be the final day for creations or redemptions by authorized participants.
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Source: AdvisorShares
AdvisorShares-Weekly Market Review Highlights of the week of October 03, 2016 to October 07, 2016
October 10, 2016--Goldilocks & a Flash Crash
Macro
First, Goldilocks which is how some have described the September jobs report which came in with 156,000 jobs created
versus an expectation of 172,000.
The headline unemployment rate ticked up to 5.0% as more people entered the labor force while the participation rate printed at 62.9%. Wages increased
by 0.2% and the broader U6 measure of unemployment was steady at 9.7%.
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Source: AdvisorShares
CBO-Monthly Budget Review for September 2016
October 7, 2016--The federal government ran a budget deficit of $588 billion in fiscal year 2016, the Congressional Budget Office estimates-$149 billion greater than the shortfall recorded in fiscal year 2015.
The 2016 deficit equaled an estimated 3.2 percent of gross domestic product (GDP), up from 2.5 percent of GDP in 2015. The increase in the deficit, measured as a share of the nation's output, was the first since 2009.
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Source: Congressional Budget Office (CBO)
Moody's: State pension liabilities set to balloon to $1.75 trillion
October 7, 2016--States' adjusted net pension liabilities totaled $1.25 trillion in fiscal year 2015 and are expected to increase a further $500 billion in the two next years, said a report Thursday from Moody's Investors Service.
In light of low fiscal year 2015 and 2016 returns, that figure is expected to rise over the next two reporting years, reaching an estimated $1.75 trillion in fiscal year 2017, said Marcia Van Wagner, Moody's vice president and senior credit officer, in a news release on the report.
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Source: www.pionline.com
Reaves Utilities ETF Announces Primary Listing Venue Change
October 7, 2016--The Reaves Utilities ETF (Ticker:UTES), the first actively managed exchange traded fund focused on the utilities sector, today announced its plans to change the primary listing venue from NASDAQ to NYSE Arca.
The Reaves Utilities ETF, which is sub-advised by Reaves Asset Management, will retain its current ticker symbol with the NYSE Arca listing. The Fund will commence trading on NYSE Arca upon market open on October 24, 2016.
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Source: Reaves Asset Management
