Americas ETP News
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S&P Affirms U.S. AA+ Credit Rating, Maintains Stable Outlook
June 10, 2015--The U.S.'s AA+ credit rating was affirmed by Standard & Poor's, which cited the resilience of the economy and the status of the dollar.
The U.S.'s strengths include a"diversified and resilient" economy, and its role as the issuer of the world’s reserve currency, wrote analysts Lisa Schineller and John Chambers.
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Source: Bloomberg
Direxion Investments Launches First Currency Hedged 2X Leveraged ETFs
New ETFs Provide 2X Bull Exposure to Currency Hedged Equities in Europe and Japan
June 10, 2015--Direxion Investments announces the launch of two new leveraged exchange-traded funds (ETFs).
The Direxion Daily MSCI Europe Currency Hedged Bull 2X Shares (Ticker: HEGE) seeks to achieve 200% of the daily performance of the MSCI Europe U.S. Dollar Hedged Index. The index represents a close estimation of the performance that can be achieved by hedging the currency exposures of its parent index, the MSCI Europe Index, to the U.S. dollar, the "home"currency for the hedged index.
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Source: Direxion
State Street Global Advisors Expands International ETF Offering with Its First Currency Hedged SPDR ETF
June 10, 2015--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), today announced that the SPDR EURO STOXX 50 Currency Hedged ETF (Symbol: HFEZ) began trading on the NYSE Arca.
HFEZ provides investors with an opportunity to benefit from the growth potential of large-cap Eurozone stocks while seeking to minimize exposure to fluctuations in the euro to US dollar exchange rate. HFEZ complements the SPDR EURO STOXX 50 ETF (FEZ), which currently has $4.9B in assets under management.
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Source: State Street Global Advisors
Goldman Sachs Statement on GSC ETN
June 9, 2015--The Goldman Sachs Group, Inc. (NYSE:GS) today announced that it will discontinue, effective immediately, any further issuances of its GS Connect S&P GSCI Enhanced Commodity Total Return Strategy Index ETN due 2037 (NYSE Arca:GSC), part of its Medium-Term Notes, Series B (the "ETN").
The ETN holders' option to require The Goldman Sachs Group, Inc. to repurchase the ETNs on a weekly redemption date (subject to the terms and conditions set forth in the prospectus, as amended or supplemented from time to time, relating to the ETN) will not be affected by this discontinuation of new issuances.
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Source: The Goldman Sachs Group, Inc.
WisdomTree Cross-Lists 2 Additional ETFs on Bolsa Mexicana de Valores
Company Further Expands Global Footprint in Latin America
June 9, 2015--WisdomTree Investments, Inc. (Nasdaq:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced that an additional two WisdomTree ETFs have been listed on The Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV), S.A.B. de C.V.
Both equity ETFs are listed in the special international section of the BMV, the Sistema Internacional de Cotizaciones ("SIC"). SIC makes it possible for certain institutional investors to trade foreign securities in Mexico. Securities listed on the SIC are not publicly offered in Mexico.
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Source: WisdomTree
BNY Mellon ADR Index Monthly Performance Update-May 2015
June 9, 2015--The BNY Mellon ADR Index Monthly Performance Update-May 2015 is now available.
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Source: BNY Mellon
Uncommon Sense: Why the Federal Reserve Needs to Bury the Ghost of 193
Is the Federal Reserve's lower-for-longer policy on interest rates really a good thing for risk assets in the long term?
June 8, 2015--When I think of my parents, most of my childhood memories involve them scolding us kids about the dangers of excess.
Stay up too late and you’ll oversleep for school. Eat too much
candy and you'll end up with a stomachache. And so on. Of
course,, it was good advice, and these days I catch myself saying the same thing to my own children.
This leads me to wonder if a little parental common sense can also be applied to the current situation with the financial markets given the unprecedented level of stimulus from a number of central banks. Specifically, will the sugar high of a six-year bull market in risk assets, fueled largely by zero interest rate policies, lead to stomach pains down the road? It seems the overwhelming sentiment is that a Federal Reserve (Fed) that remains "lower for longer" by delaying rate hikes would help stocks.
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Source: State Street Global Advisors
Justice Department probes banks for rigging Treasuries market
June 8, 2015--The Justice Department is looking into possible fraudulent manipulation of the $12.5 trillion Treasurys market, The Post has learned.
Government lawyers are said to be in the early stages of a probe and have reached out in recent months to at least three of the 22 financial institutions that act as primary government debt dealers to request information, said a person close to one of the banks who was briefed on the matter.
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Source: NY Post
IMF-Colombia: Selected Issues Paper
June 8, 2015--OVERVIEW1
1. Colombia has enjoyed several years of macro-financial stability and strong growth, which supported improvements in the labor market and social conditions.
Economic growth in Colombia has been among the highest in Latin America during the last several years, underpinned by macroeconomic stability and a strong policy framework, including an inflation-targeting regime,
a flexible exchange rate, and fiscal policy guided by a structural balance rule.
Prudent financial supervision and regulation have supported financial deepening and macro-financial stability.
Colombia's broad-based growth has underpinned important gains in social indicators, including a decline in poverty, inequality, and unemployment.
2. Against the backdrop of a dimmer external outlook, Colombia's key medium-term challenge will be to preserve macroeconomic stability while sustaining strong and inclusive growth.
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Source: IMF
A $300 billion institution is about to make a move that will send chills down all of private equity's spine
June 8, 2015--First they came for the hedge funds. Now it's private equity's turn.
Next Monday, The Wall Street Journal reports, the California Public Employees' Retirement System (Calpers) will slice the number of private-equity firms and real-estate funds in half.
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Source: Business Insider
