Americas ETP News
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Happy anniversary-but challenges lie ahead
The ETF industry faces hurdles that must be overcome if expected growth is to be achieved
February 1, 2015--
Many will be surprised to learn that exchange traded funds will turn 25 on March 9.
This year marks the silver anniversary of the listing of the TIP 35 ETF (Toronto Index Participation Fund) in Canada on the Toronto Stock Ex-change.
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Source: FT.com
S&P Dow Jones Indices-Canada Index Dashboard
January 30, 2015--Canadian equities were up to start 2015, with the S&P/TSX Composite and the S&P/TSX 60 both gaining 1% in January. Defensive strategies thrived, with the S&P/TSX Composite Low Volatility index ending the month up 2%.The strongest performing sector of the S&P/TSX Composite was Health Care (19%). Financials were the weakest performers, down 5%.
U.S. equities began 2015 in the red, as the Dow Jones Industrial Average and the S&P 500(R) declined 4% and 3%, respectively. Globally, developed markets ended the month flat while emerging markets were up slightly.
Commodities performed poorly across the board. The Dow Jones Commodity Index and the S&P GSCI declined 4% and 8%, respectively. The Energy sector continued its weak performance (-9%).
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Source: S&P Dow Jones Indices
IMF Executive Board Concludes 2014 Article IV Consultation with Canada
January 30, 2015--On January 28, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Canada. 1
Canada's recent growth performance has been solid, alongside a stronger U.S. recovery. U.S. growth momentum, exchange rate depreciation, and high energy demand in early 2014, all led to a pickup in exports, although it has yet to translate into strong investment and hiring. In particular, the slowdown in business investment has been widespread in recent years. Thus, the composition of growth has not yet shifted away from private consumption and residential investment to generate a broader, more durable recovery. Substantially lower oil prices will be a drag on growth through weaker investment in the energy sector. Private consumption has continued to grow thanks to rising household wealth and exceptionally easy financial conditions. Indeed, after a brief pause, Canada's housing market rebounded in 2014, fueled by low and declining interest rates although there are some welcome signs of cooling especially in overheated markets. IMF staff analysis suggests a national real house price overvaluation between 7–20 percent although with important regional differences.
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Source: IMF
CFTC.gov Commitments of Traders Reports Update
January 30, 2015--The current reports for the week of January 27, 2015 are now available.
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Source: CFTC.gov
Exclusive: Guggenheim considering launching currency-hedged ETFs
January 30, 2015--Guggenheim Investments is considering launching one or more currency-hedged exchange-traded funds, one of the hottest and most sought-after financial products the last few months.
"I will confirm that we're interested in this space," Bill Belden, Guggenheim's managing director of product development in Chicago told Reuters on Friday. "We're very familiar with the currency space and we're always interested in providing new products whether they're hedged or not."
MSCI reports record surge in demand from ETF Providers for smart beta factor indices
January 30, 2015--MSCI, a leading index provider to the ETF industry worldwide, has reported a surge in demand from ETF providers for its "smart beta" factor indices, with almost half of new MSCI index-based ETFs launched in 2014 linked to MSCI factor indices.
Overall, 95 ETFs based on MSCI indices were launched in 2014, almost twice as many as the next index provider, with 42 (45 percent) of these linked to factor indices, compared to six in 2013.
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Source: etfstrategy.co.uk
Recon Capital NASDAQ 100 Covered Call ETF (QYLD) Closes First Year of Trading with 10.4% Yield
QYLD offers investors a low volatility, tax-efficient fixed income alternative
January 29, 2015--Designed to provide above average distributions to income-oriented investors, the Recon Capital NASDAQ 100 Covered Call ETF (QYLD) had a distribution yield of 10.4 percent in 2014, news which comes on the heels of its first anniversary.
The fund's monthly distributions totaled more than 10 percent for the year.
QYLD, which seeks to track the CBOE NASDAQ 100 BuyWrite Index (BXN), began trading on the NASDAQ on Dec. 12, 2013, and was created as a fixed income alternative for retail investors and financial advisors.
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Source: Recon Capital Partners
Imagine Software Inc. Partners With XTF To Deliver Advanced ETF Data And Analytics
XTF is the first global, independent provider of ETF Ratings.
January 29, 2015-Imagine Software, a leading provider of real-time portfolio and risk management solutions for the global financial services industry, today announced that it has partnered
with XTF Inc. to provide clients with advanced data for exchange traded funds and the ability to conduct
integrated analytics on portfolio positions and derivatives.
"Our partnership with XTF gives brokerage firms, investment banks, hedge funds and investment
managers the seamless ability to view risk in a truly comprehensive way using XTF's ETF data and
Imagine's risk analytics," said Brendan Quinn, Director of Sales for Imagine Software.
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Source: Imagine Software
AdvisorShares Weekly Market Update-QE Invades Europe
For the week of January 19-January 23
January 29, 2015--QE Invades Europe
Macro
The big news of the week was the fully expected news that the European Central Bank will begin asset purchases to the
tune of €60 billion per month running from March through
September.
And while this was not a surprise it still had the effect of lifting stock prices, sinking bond yields and pushing
currency markets around.
Equities were generally higher last week expect for Shanghai which was down slightly. The Dow Jones Industrial Average was up 84 basis points, the S&P 500 gained 1.62% with the Russell 2000 adding 1% and the NASDAQ led the way with a 2.68% lift.
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Source: AdvisorShares
CFTC Commissioner J. Christopher Giancarlo Releases Swaps Trading Rules White Paper
Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank
January 29, 2015--U.S. Commodity Futures Trading Commission (CFTC) Commissioner J. Christopher Giancarlo today released a White Paper titled "Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank."
The paper analyzes flaws in the CFTC's implementation of its swaps trading regulatory framework under Title VII of the Dodd-Frank Act and proposes a more effective alternative.
view the Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank White Paper
Source: CFTC.gov
