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Direxion Is Accelerating The Shifts Of 10 ETFs From 3x Leverage To 2x Leverage As Volatility Remains High
March 27, 2020--Direxion is dramatically altering the time frame for shifting 10 of its geared exchange traded funds to double from triple leverage, saying that those changes will go into effect after the close of U.S. markets on March 31 after originally being slated to be implemented on May 19.
Citing an unprecedented spike in market volatility at the hands of the COVID-19 pandemic, Direxion said last week it planned to reduce the daily leverage exposure on 10 well-known ETFs, including the Direxion Daily Gold Miners Index Bull 3X Shares NUGT, and the Direxion Daily Gold Miners Index Bear 3X Shares DUST, to 2x from 3x.
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Source: marketwatch.com
Lyxor first provider to launch an ecosystem of ETFs designed to counter climate change
March 26, 2020- Today, Lyxor ETF is delighted to announce that it is the first ETF provider to make a full range of ETFs designed to counter climate change available to investors. These ETFs, the first of their kind in Europe, are designed to be consistentwith the carbon emission reduction targets of the Paris Agreement of 2015.
Investors will be able to access European, US, Emerging Markets and World equity exposures in a simple, transparent and cost-effective way. Two of the ETFs (Emerging Markets and US) were listed today on Euronext (in EUR), and they'll also be listed on London Stock Exchange (in USD) on April 7th.Two further ETFs will follow shortly.
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Source: Lyxor
Monetary developments in the euro area: February 2020
March 26, 2020--Annual growth rate of broad monetary aggregate M3 increased to 5.5% in February 2020 from 5.2% in January
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 8.1% in February from 7.9% in January
Annual growth rate of adjusted loans to households stood at 3.8% in February, compared with 3.7% in January
Annual growth rate of adjusted loans to non-financial corporations decreased to 3.0% in February from 3.2% in January
Components of the broad monetary aggregate M3
The annual growth rate of the broad monetary aggregate M3 increased to 5.5% in February 2020 from 5.2% in January, averaging 5.2% in the three months up to February. The components of M3 showed the following developments.
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Source: ECB
New iShares ETF on Xetra: Corporate bonds with a focus on sustainability
March 26. 2020--Since Thursday, a new Exchange Traded Fund of iShares has been tradable on Xetra and Börse Frankfurt.
With the iShares $ Corp Bond ESG UCITS ETF USD (Acc), investors can participate in the performance of fixed-income corporate bonds denominated in US dollars.
The investment universe includes bonds with investment grade status, a minimum residual maturity of one year and a minimum outstanding amount of $300 million. The benchmark index excludes companies whose products have a negative social or environmental impact. These include producers of alcohol, tobacco, gambling, adult entertainment, genetically modified organisms, nuclear power and weapons. The returns are reinvested.
Name: iShares $ Corp Bond ESG UCITS ETF USD (Acc)
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Source: Xetra
IMF Staff Country Report-Italy: Financial System Stability Assessment
March 20, 2020--Summary:
Substantial progress has been made in recent years in strengthening the financial sector, but important weaknesses remain. Bank capitalization and asset quality have improved considerably but are still below the EU average and the financial sector has large exposures to the Italian sovereign.
view the IMF Staff Country Report-Italy: Financial System Stability Assessment
Source: IMF
UBS and BlackRock partner on new development bank debt ETF
February 18, 2020--iShares product will offer UBS wealth clients exposure to high-quality debt with a focus on advancing the United Nations Sustainable Development Goals (UN SDGs)
UBS, the world's leading global wealth manager, has partnered with BlackRock on the launch of a new exchange-traded fund (ETF) investing in multilateral development bank (MDB) debt.
The ETF will be included in certain UBS Global Wealth Management (GWM) mandates and offered on GWM platforms as an alternative to traditional high-quality fixed income investments such as government bonds. MDB debt offers strong-often AAA-credit ratings, high liquidity, and a higher yield than US Treasuries. The funds raised by MDB debt are also focused on advancing the UN SDGs.
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Source: marketscreener.com
New iShares ETF on Xetra: short-term corporate bonds with a focus on sustainability
March 18, 2020--Since Wednesday, a new Exchange Traded Fund issued by iShares has been tradable on Xetra and the Frankfurt Stock Exchange.
With the iShares € Ultrashort Bond ESG UCITS ETF EUR (Dist), investors can invest in short-term fixed and floating rate corporate bonds.
Included are bonds issued in euros with an investment grade rating and a maximum term of three years. In addition, bonds of companies whose business activities are associated with weapons or tobacco or are not in line with the principles of the United Nations Global Compact are filtered out.
NAme: iShares € Ultrashort Bond ESG UCITS ETF EUR (Dist)
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Source: Xetra
Financial institutions team up to develop FundsDLT, a groundbreaking blockchain-based platform for the investment fund industry
March 17, 2020--Clearstream, Credit Suisse Asset Management, the Luxembourg Stock Exchange, and Natixis Investment Managers join forces to launch FundsDLT, a blockchain-based technology platform for the investment fund industry.
Clearstream, Credit Suisse Asset Management, the Luxembourg Stock Exchange, and Natixis Investment Managers have announced a Series A investment in FundsDLT to develop a novel decentralised technology platform to facilitate the distribution of funds based on distributed ledger technology (DLT). This move marks a major milestone in the evolution of FundsDLT, originally initiated and incubated by the Luxembourg Stock Exchange and its affiliate Fundsquare.
FundsDLT is built using permissioned blockchain technology based on Ethereum that ensures privacy and high performance. FundsDLT enables the reengineering of the fund distribution value chain, from front to back, covering the entire fund lifecycle.
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Source: Xetra
Crude price crash hits oil-linked exchange traded products-WisdomTree forced to close its three-times leveraged Brent and WTI oil ETPs
March 16, 2020--Saudi Arabia's decision to launch an oil price war caused carnage last week for highly leveraged exchange traded products run by WisdomTree, UBS, Société Générale and Janus Henderson.
Leveraged ETPs multiply the performance of an underlying asset and US regulators have repeatedly warned they are unsuitable for retail investors because they can generate unexpectedly large losses.
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Source: ESMA
ESMA requires net short position holders to report positions of 0.1% and above
March 16, 2020--The European Securities and Markets Authority (ESMA) has issued a decision temporarily requiring the holders of net short positions in shares traded on a European Union (EU) regulated market to notify the relevant national competent authority (NCA) if the position reaches or exceeds 0.1% of the issued share capital after the entry into force of the decision.
ESMA considers that lowering the reporting threshold is a precautionary action that, under the exceptional circumstances linked to the ongoing COVID-19 pandemic, is essential for authorities to monitor developments in markets. The measure can support more stringent action if required to ensure the orderly functioning of EU markets, financial stability and investor protection.
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Source: ESMA
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