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IMF Working Paper-Household Debt, Consumption, and Monetary Policy in Australia
April 5, 2019--Summary:
This paper discusses the evolution of the household debt in Australia and finds that while higher-income and higher-wealth households tend to have higher debt, lower-income households may become more vulnerable to rising debt service over time. Then, the paper analyzes the impact of a monetary policy shock on households’ current consumption and durable expenditures depending on the level of household debt.
The results corroborate other work that households’ response to monetary policy shocks depends on their debt and income levels. In particular, households with higher debt tend to reduce their current consumption and durable expenditures more than other households in response to a contractionary monetary policy shocks. However, households with low debt may not respond to monetary policy shocks, as they hold more interest-earning assets.
view the IMF Working Paper-Household Debt, Consumption, and Monetary Policy in Australia
Source: IMF
BSE, India INX become first Indian exchanges to sign MoU with Moscow Exchange
April 5, 2019--BSE (earlier known as Bombay Stock Exchange) and India International Exchange (India INX) have signed a memorandum of understanding with Moscow Exchange (MOEX) to connect investor community and companies in both countries besides allowing a capital formation platform.
BSE and India INX are the first Indian exchanges to enter into the MoU with Moscow exchange.
The exchange companies have agreed to the secondment of senior personnel to enhance understanding of activities in each other's market
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Source: Business Standard
Cambodia and Singapore strengthen cooperation in FinTech Innovation
April 4, 2019--The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) today signed a Memorandum of Understanding (MOU) to strengthen cooperation in FinTech innovation between both countries.
Under the MOU, both countries will share information on emerging market trends and developments in FinTech, as well as regulatory issues pertaining to innovation in financial services. The two authorities will work together to conduct joint training sessions to share expertise to foster cross-border cooperation.
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Source: Source: Monetary Authority of Singapore (MAS)
FTSE Russell index selected for first infrastructure ETF traded on ASX
April 3, 2019--FTSE Developed Core Infrastructure 50/50 Index licensed by VanEck Australia
First infrastructure index-linked ETF traded on the Australian Securities Exchange
Index captures 155 infrastructure stocks representing the world's Developed Markets
FTSE Russell, the global index provider, announces that VanEck Australia, one of Australia's prominent providers of exchange traded products, has chosen to license the FTSE Developed Core Infrastructure 50/50 Index for its latest Exchange Traded Fund (ETF), the VanEck Vectors FTSE Global Infrastructure (Hedged) ETF.
Last year, after consultation with key market practitioners, the FTSE Infrastructure Index Series was expanded to include the 50/50 indexes, which provide an industry-defined interpretation of infrastructure and adjust the exposure to certain infrastructure sub-sectors.
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Source: FTSE Russell
BetaShares-Market Trends: April 2019
April 3, 3019--Property gains on lower rates
Australian listed property was the best performing of our seven major asset classes* in March, benefiting from a steep drop in global bond yields as central banks moved back to a more neutral policy stance.
Indeed, Australian bonds were the second best performing asset class as expectations grew that the Reserve Bank would eventually cut interest rates, which contributed to a decline in local 10-year bonds yields from 2.1% to 1.8%.
Australian equities posted solid gains, albeit somewhat weaker than in February as financial stocks gave back some of their strong gains following the Hayne Royal Commission.
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Source: BetaShares
19-076MR ASIC re-issues practical guidance for foreign financial services providers in Information Sheet 157
April 3, 2019--ASIC has today re-issued Information Sheet 157 Foreign financial services providers-practical guidance (INFO 157) for foreign financial services providers (FFSPs) seeking to provide financial services only to wholesale clients in Australia.
FFSPs regulated by certain overseas regulators who wish to provide financial services to wholesale clients in Australia can rely on 'class' relief, provided certain conditions are met. To do so, they need to notify us that they wish to rely on this relief.
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Source: ASX
FTSE Russell index selected for global
real estate ETF traded on ASX
April 2, 2019--FTSE EPRA Nareit Developed ex Australia Rental in AUD Hedged Net Tax Index licensed by VanEck Australia
Australia's first AUD hedged international property ETF
Index captures 305 REITs representing the world's Developed markets
FTSE Russell, the global index, analytics and data provider, announces that VanEck Australia has chosen to license the FTSE EPRA Nareit Developed ex Australia Rental in AUD Hedged Net Tax Index for its latest Exchange Traded Fund (ETF), the VanEck Vectors FTSE International Property (Hedged) ETF.
The ETF has today listed on the Australian Securities Exchange.
The FTSE EPRA Nareit Developed ex Australia Rental in AUD Hedged Net Tax Index, is part of the market-leading, FTSE EPRA Nareit Global Real Estate Index Series. The index represents the performance of eligible listed real estate stocks where the company,s rental revenue from investment properties is greater than or equal to 70% of total revenue.
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Source: FTSE Russell
Philippines to Sustain Strong Growth amidst Local and Global Uncertainties
April 1, 2019--Investing in human capital is key to ensuring more inclusive growth in the long-run
Amidst lingering global and local uncertainties, the Philippine economy is poised to grow at 6.4 percent in 2019 and 6.5 percent in 2020 and 2021, according to the Philippines Economic Update (PEU) released here today by the World Bank.
These new estimates are lower than the previous World Bank forecasts of 6.5 percent growth in 2019 and 6.6 percent in 2020 released in January this year, owing to several factors including the delay in the 2019 budget approval and the slowing down of global trade that can lead to weaker demand for Philippine exports.
view the World Bank Philippines Economic Update : Safeguarding Stability, Investing in the Filipino report
Source: World Bank
NSE to have SGX's Nifty trade routed via Gift City soon
April 1, 2019--As per the arrangement, SGX will enrol as a client of NSE in Gift City.
The National Stock Exchange (NSE) and the Singapore Exchange (SGX) have finalised an agreement that will result in trades done in Nifty and Bank Nifty futures contracts in the island nation being executed in International Financial Services Centre (IFSC), Gift City, Gujarat. Both the exchanges have submitted their plans to the capital market regulators of India and Singapore and are expecting their proposals to be cleared in the next one month, said two people privy to the development.
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Source: The Economic Times (India)
BetaShares-Super Tuesday
April 1, 2019--Week in Review
Global equities recovered somewhat last week, perhaps encouraged by the fact that while most global growth indicators have softened in recent months, they're overall still consistent with at least moderate growth (i.e. no recession) and low inflation.
Central banks are also not deaf, with the Reserve Bank of New Zealand becoming the latest to turn dovish-indicating the next move in rates would now likely be down. Bond yields continued to edge lower, with the US market now fully pricing a Fed rate cut by year-end!
Against this backdrop, one positive report last week was a better than expected improvement in Germany's key IFO business sentiment indicator in March. The final estimate of US Q4 annualised GDP growth was also reasonable, revealing a close-to-trend pace of 2.2%.
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Source: BetaShares
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