Global ETF News Older than One Year
IMF-New External Assessments Show Larger Imbalances in 2015
July 27, 2016--External imbalances have widened again after narrowing following the global crisis
A more balanced policy mix is needed, with greater reliance on fiscal and structural policies
Collective policy action will be needed if global demand slows further
External imbalances widened again in 2015 after narrowing in the aftermath of the global financial crisis. Countries should take measures that reduce excess imbalances without compromising global demand, according to a new IMF analysis.
view the IMF 2016 External Sector Report
Outflows for Europe equity exposures moderated to ($1.6bn) and funds listed
in Europe experienced their first inflows since January with $0.6bn
Broad EM equities generated $3.6bn to bounce back from outflows in May, and
EAFE flows accelerated to $3.1bn
Source: BlackRock ETP Research
World Bank Raises 2016 Oil Price Forecast
Oil prices jumped 37 percent in the second quarter of 2016 due to disruptions to supply, particularly wildfires in Canada and sabotage of oil infrastructure in Nigeria. The revised forecast appears in the World Bank's latest Commodities Markets Outlook and takes into account a recent softening of demand and the recovery of some disrupted supply. Special Focus: Recent Credit Surge in Historical Context
Source: World Bank
DECPG Global Weekly-July 22, 2016
S&P downgraded Turkey's sovereign debt rating after failed coup attempt
WEEKLY INSIGHT
Fiscal policy challenges in emerging market and developing economies (EMDEs) vary across commodity importers and exporters. However, in most countries, the scope for expansionary fiscal policy remains limited.
Source: World Bank
IMF-Sovereign Debt Restructuring and Growth
We find that there are bad and good (or not so bad) debt restructurings for growth. While growth generally declines in the aftermath of a sovereign debt restructuring, agreements that allow countries to exit a default spell (final restructurings) are associated with improving growth. The impact can be significant. In general, three years after restructuring, growth is about 5 percent lower compared to countries that did not face restructuring over the same period. The exception is for final restructurings, which result in positive growth in the years immediately after the restructuring. Final restructurings tend to be better for growth because they reduce countries' debt, with the strongest effect for countries that exit restructurings with relatively low debt levels.
Source: IMF
IMF Working paper-Sovereign Risk and Deposit Dynamics :Evidence from Europe
Developments in Europe since early 2010 presented new challenges for the functioning of private banks in an environment of heightened sovereign risk. This paper uses an innovative way of measuring the perception of sovereign risk and its impact on deposit dynamics during 2006-11. Using an extension of a common market discipline framework, it shows that exposure to sovereign risk may have limited the ability of banks in Europe to attract deposits. The results are robust to inclusion of conventional measures of bank performance and the sector-wide holdings of foreign sovereign debt.
Source: IMF
WisdomTree and ICBC Credit Suisse Enter Global Product Partnership on S&P China 500 Index
Partnership Will Provide Investors Access to a Better Barometer for "Total China"
WisdomTree Investments, Inc. (NASDAQ:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and ICBC Credit Suisse Asset Management (International) Company Limited ("ICBCCS"), today announced a global product partnership to launch ETFs that track the S&P China 500 Index.
Source: WWisdomTree
Safe haven categories fared well, with gold and U.S. Treasuries accumulating $5.4bn and $1.5bn, respectively, and minimum volatility funds adding $2.8bn
Yield-oriented funds brought in a combined $8.7bn, led by the best high
dividend equity month on record with $3.8bn and EM debt with $2.3bn
Oil prices seen higher due to supply disruptions, strong demand in second quarter
July 26, 2016--The World Bank is raising its 2016 forecast for crude oil prices to $43 per barrel from $41 per barrel due to supply outages and robust demand in the second quarter.
Since the global financial crisis, credit to the private nonfinancial sector in EMDEs has risen rapidly, especially to the corporate sector.
July 22, 2016--TAKING STOCK
U.S. initial jobless claims edged lower; housing market rebounded
Euro Area PMIs edged down; ECB left interest rates unchanged
Flash UK PMIs fell sharply after Brexit vote.
Nigeria's inflation accelerated in June
Fiscal Policy Challenges in Emerging Market and Developing Economies
July 22, 2016--Summary: This paper studies the effect of sovereign debt restructurings with external private creditors on growth during the period 1970-2010.
July 22, 2016--Summary: The unprecedented expansion of sovereign balance sheets since the global financial crisis has given a new meaning to the term sovereign risk.
July 21, 2016-ETF Innovator Joins Local China Expert on Novel Product Based Upon Index Developed by S&P Dow Jones Indices
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