Americas ETP News
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FRB-Beige Book
October 21, 2013--The Beige Book Reports issued on October 16, 2013, from the twelve Federal Reserve Districts suggest that national economic activity continued to expand at a modest to moderate pace during the reporting period of September through early October.
Eight Districts reported similar growth rates in economic activity as during the previous reporting period, while growth slowed some in the Philadelphia, Richmond, Chicago, and Kansas City Districts. Contacts across Districts generally remained cautiously optimistic in their outlook for future economic activity, although many also noted an increase in uncertainty due largely to the federal government shutdown and debt ceiling debate.
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Source: Federal Reserve.gov
How to Save Your 401(k): Invest in Africa
October 21, 2013--With only 85 days left until the next opportunity for Congress to unleash apocalypse on Wall Street in the form of a debt default, it's a great moment to think about reducing risk in your investment portfolio.
Because bourses worldwide have globalized, a U.S. debt default would almost certainly roil markets from New York to New Delhi. Luckily for the risk-averse, there’s still one set of markets out there that may stay bubo-free when the NYSE catches the plague. If you want to preserve at least a part of your retirement nest egg from Washington-induced calamity, start buying up stocks in Africa
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Source: Bloomberg Business Week
Innovation, diversification and better logistics key to sustainable and inclusive growth, says latest Latin American Economic Outlook
October 18, 2013--After a decade of relatively strong growth, Latin America is facing headwinds associated with declining trade, a moderation in commodity prices and increasing uncertainty over external financial conditions, according to the latest Latin American Economic Outlook jointly produced by the OECD Development Centre, the UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and CAF- Development Bank of Latin America.
The report was released in Panama City during the XXIII Ibero-American summit. Weak economic performance in the euro area, the slowdown in some emerging economies and uncertainty over U.S. monetary and fiscal policy are also weighing on Latin America’s weaker outlook.
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Source: OECD
U.S. Department of the Treasury Economic Statistics-Monitoring the Economy Update
October 18, 2013--The U.S. Department of the Treasury Economic Statistics-Monitoring the Economy report has been updated.
view the US Economic Data-Monthly October 2013
Source: US Department of the Treasury
VIX Creator: Volatility ETPs 'Virtually Guaranteed to Lose Money'
October 18, 2013--Robert E. Whaley is widely credited as the originator of the market's most closely watched "fear index."
It turns out he-s not a fan of owning the most popular exchange-traded funds and notes built around that index.
In a forthcoming paper for the Journal of Portfolio Management, the Vanderbilt University finance professor calls the most popular exchange-traded funds and notes tied to the CBOE Market Volatility Index "not suitable buy-and-hold investments" and “virtually guaranteed to lose money through time."
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Source: Barron's
WisdomTree Launches Germany Hedged Equity Fund (DXGE)
WisdomTree Launches Germany Hedged Equity Fund (DXGE)
DXGE to Provide Exposure to Largest Exporter Nation and Largest Economy in European Monetary Union
WisdomTree Expands Currency Hedged Equity Family of ETFs
October 18, 2013--WisdomTree (Nasdaq:WETF), an exchange-traded fund ("ETF") sponsor and asset manager, today announced the launch of the WisdomTree Germany Hedged Equity Fund (DXGE) on the NASDAQ Stock Market.
DXGE is designed to provide exposure to German equity markets while hedging exposure to the euro and has an expense ratio of 0.48%.
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Source: Wall Street Journal
RevenueShares files with the SEC
October 18, 2013--RevenueShares has filed a first amended and restated application for exemptive relief with the SEC.
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Source: SEC.gov
Capped Component Version of S&P GSCI Single Commodity Family Launched by S&P Dow Jones Indices
October 17, 2013--&P Dow Jones Indices announced today the launch of a family of indices based on the S&P GSCI(R) Single Commodities that applies the Capped Component rules according to the ESMA guidelines on UCITS issues.
Currently, the S&P GSCI includes 24 commodities that form 18 components, where three of the components, Petroleum, Wheat, and Cattle, include more than one commodity. For every S&P GSCI Single Capped Component, the namesake commodity is allocated 32%, with the remaining 68% equally distributed among the remaining commodities in the other components.
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Source: Wall Street Journal
S&P Dow Jones Indices Announces Changes To The S&P/TSX Canadian Indices
A Deletion From The S&P/TSX Venture Composite Index
October 17, 2013--S&P Dow Jones Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices:
A Plan of Arrangement between Afferro Mining Inc. (TSXVN:AFF) and International Mining and Infrastructure Corp. plc (LSE:IMIC) has been approved.
Afferro shareholders will receive 80p cash and 40p value in a convertible loan note for each common share held. Afferro Mining will be removed from the S&P/TSX Venture Composite Index after close on Friday, October 18, 2013.
Source: S&P Dow Jones Canadian Index Services
S&P: The Shutdown Took $24 Billion Out Of The US Economy
October 17, 2013--There has been a cost to the gridlock in Washington over the past few weeks. Standard and Poor's puts it at $24 billion. S&P says that $24 billion loss will shave at least 0.6 percent off fourth quarter GDP growth.
And the costs are likely to continue, because the agreement to re-open the government and raise the debt ceiling is only temporary. Sam Stovall is chief equity strategist at S&P Capital IQ. He says businesses will be reluctant to invest in this atmosphere.
"Companies who are sitting on hordes of cash are going to be less willing to spend that cash if they realize that another fight is just around the corner," Stovall says.
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Source: Marketplace.org
