Global ETF News Older than One Year
ETFGI reports Crypto ETFs and ETPs listed globally gathered net inflows of US$356 million during July
August 29, 2023--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reported today that Crypto ETFs and ETPs listed globally gathered net inflows of US$356 million during July. The US$356 Mn of net inflows gathered during July, brings year-to-date net inflows to $598 Mn, which is lower than $794 Mn in net inflows at this point last year.
Assets invested in Crypto ETFs and ETPs listed globally have increased 58.4% year-to-date in 2023 going from US$5.79 Bn at end of 2022 to $9.18 Bn at the end of July, according to ETFGI's July 2023 ETF and ETP Crypto industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Net inflows of $356 Mn into Crypto ETFs and ETPs listed globally during July.
Year-to-date net inflows of $598 Mn are the third highest on record, after YTD net inflows of $4.05 Bn in 2021, followed by YTD net inflows of $794 Mn in 2022.
2nd month of consecutive net inflows.
Assets have increased 58.4% YTD in 2023 going from $5.79 Bn at end of 2022 to $9.18 Bn.
Assets of $9.18 Bn invested in Crypto ETFs and ETPs listed globally at the end of July.
Source: ETFGI
IMF Working Paper-Default Risk and Transition Dynamics with Carbon Shocks
August 25, 2023--Summary:
Climate mitigation policies are being introduced around the world to limit global warming, generating new risks to the economy. This paper develops a continuous time heterogeneous agents model to study the impact of carbon pricing policy shocks on corporate default risk and the consequent transition dynamics.
We derive a closed-form solution to corporate default probability based on firms' intertemporal optimization decisions and explicitly characterize the transition speed. This allows for studying policy implications in an analytically tractable way. The model is calibrated to different US corporate sectors to quantify the heterogeneous effects of carbon price shocks. While carbon-intensive sectors face increased default risks, there are notable asymmetric effects within sectors. Higher carbon prices increase default risk but also induce faster transition towards the new post-shock steady state with a highly non-linear impact. Our results suggest that once a range of possible price shocks are accounted for, the increase in the cost of capital/risk premiums might be sharply different across sectors.
Source: imf.org
Fossil Fuel Subsidies Surged to Record $7 Trillion
August 24, 2023--Scaling back subsidies would reduce air pollution, generate revenue, and make a major contribution to slowing climate change
Fossil-fuel subsidies surged to a record $7 trillion last year as governments supported consumers and businesses during the global spike in energy prices caused by Russia's invasion of Ukraine and the economic recovery from the pandemic.
As the world struggles to restrict global warming to 1.5 degrees Celsius and parts of Asia, Europe and the United States swelter in extreme heat, subsidies for oil, coal and natural gas are costing the equivalent of 7.1 percent of global gross domestic product. That's more than governments spend annually on education (4.3 percent of global income) and about two thirds of what they spend on healthcare (10.9 percent).
Our findings come as the World Meteorological Organization says July was the hottest month on record, underscoring the urgent need to curb human-induced climate change.
Source: imf.org
Emerging economies group BRICS invites 6 new members, including Saudi Arabia and Iran
August 24, 2023--Expansion of the bloc, which also invited Argentina, Egypt, Ethiopia and the United Arab Emirates, was a key agenda item at this week's summit in South Africa.
The BRICS economic coalition of emerging markets on Thursday extended membership invitations to six nations, South African President and current BRICS chair Cyril Ramaphosa said.
The BRICS alliance- which is composed of Brazil, Russia, India, China and South Africa- is set to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to join, Ramaphosa said in a speech published on the X social media platform, previously known as Twitter.
Source: nbcnews.com
BIS-Financial stability risks from cryptoassets in emerging market economies
August 22, 2023--In emerging market economies (EMEs), cryptoasset adoption has been on a steady rise. For some users, cryptoassets provide an alternative to limited investment and savings instruments. For others they offer a seemingly safe haven against volatile domestic currencies.
For EME financial authorities, there are serious concerns about their ability to monitor cryptoasset markets and to assess the financial stability risks from cryptoassets. This report studies how vulnerabilities in the nature, structure, composition and function of cryptoasset markets translate into financial stability risks in traditional financial markets. This includes market, liquidity, credit and operational risks, bank disintermediation and capital flow risks.
Source: BIS (Bank for International Settlements)
Cryptoassets increase risk in developing economies, study says
August 22, 2023--Cryptoassets, peddled as the future of finance, have not only failed to deliver on their promise but are themselves adding to financial risks in developing economies, according to a paper from the Bank for International Settlements.
"Cryptoassets hold out the illusory appeal of being a simple and quick solution for financial challenges" especially in emerging markets, but "but have so far not reduced but rather amplified the financial risks in less developed economies," the BIS report showed.
Source: reuters
Global Sustainable Finance Market Trends Analysis Report 2023-2030: Breakdown by Asset Class, Offerings, Investment Style, Investor Type
August 21, 2023--The "Sustainable Finance Market Size, Share & Trends Analysis Report By Asset Class, By Offerings, By Investment Style, By Investor Type, By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global sustainable finance market size is expected to reach USD 2,589.90 billion by 2030, growing at a CAGR of 22.6%
The growth of impact investing has played a pivotal role in propelling the sustainable finance sector. Impact investors strive to create tangible, measurable benefits for both society and the environment while achieving financial gains.
Source: Research and Markets
Oil up on record demand forecast, 7th straight weekly gain
August 11, 2023--
Brent, WTI futures rise 0.5% week-over-week
IEA estimates oil demand could rise to new monthly record in Aug
Tighter inventories could push oil prices higher-IEA
US oil rig count held steady last week-Baker Hughes
Oil prices edged higher on Friday after the International Energy Agency forecast record global demand and tightening supplies, propelling prices to the seventh straight week of gains, the longest such streak since 2022.
Brent crude futures rose 41 cents, or 0.5%, to settle $86.81 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 37 cents, or 0.5%, to settle at $83.19. On a weekly basis, both benchmarks rose about 0.5%.
Source: reuters.com
UBS starts process of killing off Credit Suisse brand
August 11, 2023--Temporary signs have appeared at US HQ as first step to erasing name of collapsed Swiss bank
UBS has begun the process of killing off Credit Suisse's international brand, replacing signs at the collapsed bank's US headquarters and planning changes in other key offices, according to people familiar with internal discussions.
The Credit Suisse brand is being phased out globally, though it may be retained in Switzerland if UBS sells its former rival's domestic business.
The Credit Suisse logos outside the bank's New York head office on Madison Avenue and in its lobby have been replaced with signs saying: Credit Suisse AG, a UBS Group company.
Source: ft.com
India and AI Drive Demand for ETFs in July as Europe Falls Out of Favor
August 9, 2023--India and artificial intelligence (AI) fueled the demand for exchange-traded funds (ETFs) in July, with investors focusing on these two long-term engines of the global economy. India is predicted to become the world's fastest-growing large economy, surpassing China.
The country's favorable demographics and growing workforce and consumer base make it an attractive investment option. Indian equity ETFs received a net inflow of $1.5 billion, the second-highest monthly figure on record.
Source: fagenwasanni.com
