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AdvisorShares Weekly Market Update-But Cheap Oil Was Supposed To Be Good For
December 18, 2014--For the week of December 8-December 12
Macro
Equity markets got pummeled last week with large declines despite the positive perception afforded to falling energy prices.
The Dow Jones Industrial Average fell 3.70%, the S&P 500 gave up 3.46%, the NASDAQ fared better with a 2.66%
drop and the Russell 2000 weighed in with a decline of 2.49%.
If you think that was bad, our friends at The Big Picture Blog pointed out that the Athens Index Composite fell 20% on the week due to political instability that sent sovereign bonds yields over 9%...
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Source: AdvisorShares
Janus files with the SEC
December 18, 2014--Janus has filed a application for exemptive relief with the SEC.
view filing
Source: SEC.gov
IIROC publishes academic papers on impact of HFT
December 17, 2014--The Investment Industry Regulatory Organization of Canada (IIROC) today published academic papers from three of the four academic teams chosen to assess the impact of high frequency trading (HFT) and related activity on Canadian equity markets, as part of the final phase of IIROC's comprehensive HFT Study.
The academic papers are published as received and without editorial comment. IIROC will review and discuss all of the papers internally, and with other regulators and key stakeholders, before determining what, if any, regulatory response may be required in light of the findings.
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Source: Investment Industry Regulatory Organization of Canada (IIROC)
Federal Reserve Board and Federal Open Market Committee release economic projections from the December 16-17 FOMC meeting
December 17, 2014--The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the December 16-17 meeting of the Federal Open Market Committee.
The table will be incorporated into a summary of economic projections released with the minutes of the December 16-17 meeting.
view the Projections
Source: www.federalreserve.gov
Midweek Market Pulse: Market News and Index Movers-Crude Showing Signs of Aiding Economy
December 17, 2014--Crude oil continued its slide this week, pausing around $55/barrel. The decline in crude has led to many positive gains for the economy.
Chiefly, the decrease in gasoline prices has been a boon to consumers. The consumer price index (CPI) fell 0.3% this month, the most since December 2008. Many traders expect guidance from the Federal Reserve, which is set to release minutes from its meeting today.
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Source: Nasdaq
New Approach to ETF Special Distributions-First Asset ETFs Announce Revised Estimated 2014 Annual Special Distributions
December 17, 2014--First Asset Investment Management Inc. ("First Asset") today announced special distributions in its First Asset exchange traded funds ("First Asset ETFs") which include a 25% cash portion intended to assist unitholders in satisfying any potential tax liability.
The revised estimated annual special year-end distributions (the "Special Distributions") for the 2014 tax year for the First Asset ETFs...
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Source: First Asset
Barclays Announces the Transfer of Primary Listing for Ten iPath(R) Exchange Traded Notes
December 17, 2014--Barclays Bank PLC announced today the transfer of primary listing venue for 10 iPath(R) Exchange Traded Notes (the "ETNs") to the NASDAQ Stock Market.
The affected ETNs are:
ETN Name: iPath® US Treasury Steepener ETNs
ETN Ticker: STPP
CUSIP: 06740L477
ETN Name: iPath(R) US Treasury Flattener ETNs
ETN Ticker: FLAT
Cusip: 06740L485
ETN Name: iPath(R) US Treasury 2-year Bull ETNs
ETN Ticker:DTUL
Cusip: 06740L469
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Source: Barclays
SEC explores toughening 'accredited investor' rule
December 17, 2014--A Securities and Exchange Commission advisory committee is weighing toughening up the definition of an "accredited investor," saying income and net assets alone may not be the best measure.
Only those who can be called a accredited investor are able to buy securities offerings that are exempt from certain government filing requirements. The thinking is that these people are more financially savvy, and can be targeted by brokers selling riskier investments.
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Source: MarketWatch
BioShares Launches Two New Biotechnology ETFs
BioShares Biotechnology Funds Give Investors Unique and Selective Exposure to the Dynamic, High-Growth Biotechnology Sector
December 17, 2014-- LifeSci Index Partners, LLC ("LSIP"), a New York City-based investment advisor and index provider, today launched the BioShares(TM) Biotechnology Clinical Trials Fund (Nasdaq:BBC) and the BioShares(TM) Biotechnology Products Fund (Nasdaq:BBP) (together, "the Funds").
The Funds are designed by a team of biotechnology investment specialists and allow investors, for the first time, to choose from two distinct groups of stocks that are typically grouped together in other funds- advanced products stage companies with FDA approved drugs and earlier clinical trials stage companies.
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Source: CNNMoney
NYSE to eliminate fees for some retail stock orders
December 17, 2014--Intercontinental Exchange Inc's NYSE Group unit said on Tuesday it would eliminate the fees the exchange operator charges for certain retail stock orders in an effort to take back business from over-the-counter trading platforms.
Stock exchanges have been losing market share for years now to private, bank-run trading venues that promote themselves as cheaper alternatives for matching buy and sell orders.
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Source: Reuters
