Americas ETP News
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IMF Executive Board Concludes 2014 Article IV Consultation with Brazil
April 10, 2015--The Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation1 with Brazil on March 16, 2015.
Starting in 2015, the new government has been introducing a series of measures to strengthen macroeconomic policies and restore credibility following a period in which Brazil's growth has surprised on the downside.
Determined implementation of these measures should help restore confidence and foster a recovery in growth and investment in due course.
Brazil's growth has decelerated in recent years.2 The boost from decade-old reforms, expanding labor income, and favorable external conditions, which enabled consumption and credit-led growth and underpinned sustained poverty reduction, has lost steam. Investment has been sluggish, reflecting eroding competitiveness, a worsening business environment, and lower commodity prices. Consumption has also moderated despite strong wage increases, as job creation has halted and financial conditions have tightened, affecting household income and consumer confidence.
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Source: IMF
CFTC.gov Commitments of Traders Reports Update
April 10, 2015--The current reports for the week of April 7, 2015 are now available.
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Source: CFTC.gov
Morningstar Q1 Market Commentary Now Available
April 10, 2015--The bull market in U.S. equities reached its six-year anniversary in March, but stocks endured a quieter quarter than most during this historic run.
Biotech stocks surged on acquisition offers, but crude oil and natural gas prices remained depressed and energy stocks traded at steep discounts to summer 2014 levels. The Federal Reserve ended the morphine drip of stimulus in October of last year, and markets are entering a new territory.
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Source: Morningstar
This Week's IPO Calendar from Renaissance Capital
April 10, 2015--Renaissance Capital's upcoming IPO calendar tracks the companies scheduled to price their IPOs this week.
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Source: Renaissance Capital
Invesco PowerShares Announces Launch of S&P 500 ex-Rate Sensitive Low Volatility Portfolio (XRLV)
Increased Volatility and Rising Rates Highlight Need for Risk Management Solutions
April 9, 2015--Invesco PowerShares Capital Management, LLC, a leading global provider of exchange-traded funds (ETFs), announced the launch of the PowerShares S&P 500 ex-Rate Sensitive Low Volatility Portfolio (XRLV), which was listed today on the NYSE ARCA.
Based on the industry leading S&P 500 Low Volatility Rate Response Index, XRLV offers a two-factor solution to investors looking for low volatility equity exposure while seeking protection against rising interest rates.
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Source: Invesco PowerShares
WisdomTree Launches Japan Hedged Dividend Growth Fund (JHDG)
April 9, 2015--Offers Access to Quality Dividend Growth Stocks in Japan Without Yen Exposure
Expanding Suite of Japan-Focused Funds
WisdomTree, an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced the launch of the WisdomTree Japan Hedged Dividend Growth Fund (JHDG) on the NYSE Arca. JHDG seeks to provide exposure to dividend-paying stocks of companies with growth characteristics that are incorporated in Japan, while neutralizing exposure to fluctuations between the yen and the U.S. dollar. The Fund has a net expense ratio of 0.43%.1
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Source: MarketWatch
Semiannual Report on International Economic and Exchange Rate Policies
April 9, 2015--This Report covers developments in the second half of 2014, and where pertinent and available, data through end-March 2015. This Report reviews the macroeconomic and exchange rate policies of economies accounting for 65 percent of U.S. foreign trade and assesses global economic developments more broadly.
The Report draws attention to and expresses concern over the impact that an imbalanced mix of macroeconomic policies is having on global outcomes, including a suboptimal composition of global growth and the threat of widening external imbalances. The Report calls for policymakers, especially those in surplus economies, to use the full set of policy tools at their disposal (monetary, fiscal and structural) to support growth and realize the collective G-20 objective of strong, sustainable and balanced global growth.
view report Report to Congress on International Economic and Exchange Rate Policies
Source: US Department of the Treasury
First Bridge 'ETF 20/20' Trends: Q1 '15 Review
April 9, 2015--Highlights
br>Assets for ETFs listed in the US grew by 4.5% in Q1 2015, with ETF s providing global equity exposure gaining the most in net assets.
Both the VIX and BofAML high yield bond spread were up from a year ago ( 10% and 28% respectively), but are still below their 10 year historical median values.
Developed Ex US equity markets (EFA) and US small caps (IWM) were the best? performing of the ETFs representing the major asset classes in Q1 2015.
A review of 5 key US equity strategies showed that low volatility was the only one over the last 10 years to beat the S&P 500 and also have lower volatility.
The dispersion between different strategies has fallen significantly in the last 12 months.
Currency hedged ex US ETFs significantly outperformed their unhedged counterparts. As a result, HEDJ took in $10.16B in net new assets in Q1 2015.
China 'A' Shares solar and some currency hedged equity ETFs were the best performing ETF categories in Q1 2015. Brazil small caps and some commodity futures based ETPs were the weakest performers in the quarter
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Source: First Bridge Data
Deutsche Asset & Wealth Management Launches 2 Currency-Hedged Exchange Traded Funds on Deutsche X-trackers Platform
April 9, 2015--Deutsche Asset & Wealth Management (Deutsche AWM) today announced the launch of two new currency-hedged exchange traded funds (ETFs) on its Deutsche X-trackers platform, Deutsche X-trackers Dow Jones Hedged International Real Estate ETF (NYSE Arca: DBRE) and Deutsche X-trackers S&P Hedged Global Infrastructure ETF (NYSE Arca: DBIF).
The new ETFs are the first currency-hedged real estate and infrastructure ETFs that allow investors to access global markets.
DBRE aims to provide investors with exposure to the Dow Jones Global ex-US Select Real Estate Securities Total Return Net Index, which seeks to track the performance of publically traded real estate securities in countries outside the United States, while DBIF seeks to track the performance of equity securities of infrastructure issuers in developed and emerging markets through the S&P Global Infrastructure Index. Both ETFs aim to mitigate exposure to fluctuations between the value of the US dollar and the currencies of the countries included in the underlying indices.
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Source: Deutsche Asset & Wealth Management
AdvisorShares Weekly Market Update: MLB Opening Day But Is the Fed Now in a Rain Delay?
April 9, 2015--For the week of March 30- April 2
MLB Opening Day But Is The Fed Now In A Rain Delay?
Macro
Friday's holiday did not stop the jobs report from printing and it was a stinker. The economy created 126,000 new jobs compared to expectations of 245,000 jobs. The headline
unemployment rate held steady at 5.5% and the broader U6 number downticked to 10.9% likely due to a corresponding
downtick in labor force participation to 62.7%,
Average hourly earnings fared a little better than the previous month moving
up 0.3%.
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Source: AdvisorShares
