Global ETF News Older than One Year
IMF Working Papers-Leverage-A Broader View
March 19, 2018--Summary:
Traditional measures of leverage in the financial system tend to reflect bank balance sheet data. The paper argues that these traditional, bank-centric measures should be augmented by considering pledged collateral in the financial system since pledged collateral provides a measure of an important part of nonbank funding to banks.
From a policy perspective, the paper suggests that a broader view on leverage will enhance our understanding of global systemic risk, and complement the theoretical work in this field by providing a link from micro-level leverage data to macro aggregates such as credit to the economy.
view the IMF Working Papers-Leverage-A Broader View
Source: IMF
Global upswing should be used to implement structural reforms to boost incomes and well-being-for the longer term and for all
March 19, 2018--Governments must implement comprehensive structural reform programmes to sustain stronger, greener and more inclusive growth that will extend beyond the current cyclical upswing, according to the OECD's annual Going for Growth report.
Going for Growth 2018 assesses what the country-specific reform priorities are and how policy measures can be packaged together to boost long-term growth, improve competitiveness and productivity, create jobs and ensure a more inclusive and sustainable economy.
This year’s edition reveals that governments continue prioritising employment and social protection reforms, which are important for achieving greater inclusiveness and a more balanced distribution of income, and that these actions have delivered results.
view the OECD Going for Growth 2018 Executive Summary
Source: OECD
Goldman Sachs reveals gender pay gap
March 16, 2018--Goldman Sachs has reported a median UK gender pay gap at its international business of 36.4% for hourly pay and a median bonus gap of 67.7%.
Its mean average pay gap for hourly pay was 55.5%, and 72.2% for bonuses.
The bank said this reflected an imbalance between men and women in senior roles, adding it was "committed to promoting diversity and inclusion".
Source: BBC
DECPG Global Weekly
March 16, 2018--Taking Stock
U.S. consumer price inflation rose in February; retail sales weakened; industrial production rebounded. The U.S. headline consumer price index (CPI) rose 2.2 percent (y/y) in February, up from 2.1 percent in January, reflecting a slight increase in energy prices.
The core CPI, which excludes energy and food prices, was steady at 1.8 percent (y/y), in line with expectations (Figure 1). Retail sales edged down 0.1 percent (m/m) in February, falling for the third consecutive month. Industrial production rose 1 percent (m/m) in February, following a revised 0.3 percent drop in January. Manufacturing output rose 1.2 percent, led by an increase in the production of motor vehicles and parts, and mining output increased 4.3 percent in February, owing to gains in oil and gas extractions.
Euro Area employment growth softened; industrial production fell; and inflation slowed.
Source: World Bank
Fund Investors and APs Are Net Redeemers of Equity Funds and ETFs for February
March 16, 2018--For the eleventh month in 12 stock & mixed-asset mutual funds witnessed net outflows, handing back $12.8 billion for February, and for the first month in 14 fund investors were net sellers of fixed income mutual funds, withdrawing $1.3 billion from the macro-group.
For the first month since May 2016 authorized participants (APs, those investors who actually create and redeem ETF shares) were net redeemers of stock & mixed-asset ETFs-withdrawing $10.1 billion. However, for the fifteenth consecutive month they were net purchasers of bond ETFs-injecting $2.1 billion for February.
Source: Thomson Reuters
OPEC admits United States shale may crash oil price
March 15, 2018--The Organisation of Petroleum Exporting Countries (OPEC) has admitted for the first time that the growing crude oil output from the United States (U.S.) may threaten the price of crude oil despite efforts to rebalance the market.
OPEC, in its monthly report yesterday, upgraded expected supply from non-members, saying that the output was surging beyond expectations.
Source: theguardian.com
FSB launches survey on infrastructure financing as part of its efforts to evaluate the impact of G20 regulatory reforms
March 15, 2018--The Financial Stability Board (FSB) launches a voluntary survey on the trends, drivers, and potential effects of regulatory reforms on infrastructure financing, and invites relevant institutions to participate.
The survey is an important part of the FSB's ongoing work to evaluate the effects of the G20 regulatory reforms on infrastructure financing. This evaluation is part of the FSB's examination of the effects of the G20 regulatory reforms on financial intermediation, carried out under the FSB's evaluation framework.
The survey seeks feedback from firms and institutions that are actively involved in infrastructure financing by providing investments and sponsorship, insurance against financial and non-financial risks and advice on transactions.
Source: Financial Stability Board (FSB)
Google bans cryptocurrency advertising, bitcoin price slumps
March 14, 2018--Alphabet Inc's (GOOGL.O) Google said on Wednesday it was banning advertisements for cryptocurrencies and initial coin offerings, the latest internet company to clamp down on the sector amid growing concerns about scams.
Google's action, which takes effect in June and follows a similar move by Facebook earlier this year, sent the price of the best-known cryptocurrency, bitcoin, down more than 10 percent to its lowest in a month.
Source: Reuters
BlackRock Global ETP Landscape Industry Highlights-February 2018
March 14, 2018--Summary
BlackRock ETP Research
Global ETP flows resilient in February despite outflows for U.S.
equities
Global ETP inflows slowed to $6.8bn in February amid a continued rise in U.S.
interest rates and a correction for the S&P 500
Funds with exposure to non-U.S. equities maintained momentum despite the global selloff by bringing in $24.2bn, led by Japan with $7.1bn, broad EM with $3.3bn and EAFE with $2.4bn
Fixed income generated $3.4bn, with healthy inflows for less risky categories such as U.S. Treasuries, U.S. broad market debt and TIPS offset by outflows for investment grade corporate, high yield corporate and EM debt
Redemptions for U.S. equities reached ($23.3bn), though this followed cumulative inflows of $122.5bn over the prior four months
Source: BlackRock
OPEC-Monthly Oil Market Report-February 2018
March 14, 2018--Oil Market Highlights
Crude Oil Price Movements
In February, the ORB dropped 5% m-o-m, lower for the first time in six months, to average $63.48/b, but
remains above levels seen in more than two years.
Year-to-date, the ORB was 23.4%, or $12.37, higher than seen in the same period a year earlier, at $65.25/b. Similarly, Dated Brent dropped by $3.97 m-o-m to average $65.16/b and spot WTI declined by $1.55 to average $62.15/b. Oil futures also ended lower, but by varying amounts. The sell-off in crude oil futures started early in the month with oil prices pulled lower, as major US stock markets declined sharply and the dollar firmed.
Source: OPEC
