Global ETF News Older than One Year
ETF Securities Equity Research: Gold miners caught in a value trap
January 26, 2016--Summary
Gold miners are historically very cheap but at this juncture are likely to be a value trap due to profitability concerns.
Gold miners are facing deteriorating ore grades despite the CAPEX splurges from 2007 to 2013 and recent mine closures haven’t improved margins.
The recent slide in energy prices and the depreciation of currencies in jurisdictions where local miners operate, has had minimal positive impact on cash costs.
We prefer gold relative to gold miners until the fundamentals improve.
Source: ETF Securities
World Bank Lowers 2016 Forecasts for 37 of 46 Commodity Prices, Including Oil
Further economic slowdown in major emerging economies could push commodity markets lower
January 26, 2016--The World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections.
The lower forecast reflects a number of supply and demand factors. These include sooner-than-anticipated resumption of exports by the Islamic Republic of Iran, greater resilience in U.S. production due to cost cuts and efficiency gains, a mild winter in the Northern Hemisphere, and weak growth prospects in major emerging market economies, according to the World Bank's latest quarterly report.
view the Commodity Markets Outlook Weak Growth in Emerging Economies January 2016 report and Commodity Markets
Source: World Bank
Fears Over Global Trade Declines Pointing To Recession Are Misplaced, Source Says
January 25, 2016--Fears that declining global trade points to economic stagnation are misplaced-not least because world exports are actually growing when measured in non-US dollar terms, according to Paul Jackson
Head of Multi Asset Research at Source, one of Europe's largest exchange traded product providers. The latest Uncommon Truths research paper from Source's Multi-Asset Research team points out that while world exports have been shrinking by around 12% year-on-year (y-o-y) since..
Source: myinforms.com
The Making of the "Big Four" Banking Oligopoly in One Chart
January 25, 2016--The "Big Four" retail banks in the United States collectively hold 45% of all customer bank deposits for a total of $4.6 trillion.
The fifth biggest retail bank, U.S. Bancorp, is nothing to sneeze at, either. It's got 3,151 banking offices and employs 65,000 people. However, it still pales in comparison with the Big Four, holding only a mere $271 billion in deposits.
Source: visualcapitalist.com
WEF-Internet Fragmentation: An Overview
January 23, 2016--A thriving and open Internet provides the foundation for the fourth industrial revolution. There has been growing concern that the Internet may be in danger of splintering into a series of bordered cyberspace segments endangering its very nature.
World Economic Forum's Global Challenge on the Future of the Internet supported research highlights a number of fault lines that need to be addressed by bringing all stakeholders together.
view the white paper-Internet Fragmentation: An Overview
Source: World Economic Forum
Asset managers should put the client first
January 23, 2016--Paul Smith calls for a professional code of conduct for investment management practitioners
Source: FT.com
Move Over, Bitcoin: China Wants to Issue Its Own Digital Currency
After a love-hate relationship with Bitcoin, China has moved on to pursue its own digital currency
January 22, 2016--China's central bank plans to issue its own digital currency "as soon as possible," according to Xinhua.
The People's Bank of China made the announcement at a conference on digital currency in Beijing.
Source: thediplomat.com
Source has appointed six new country heads as it boosts the service offered to its investors across Europe.
January 22, 2016--Source is one of the largest providers of Exchange Traded Funds (ETFs) in Europe and has grown its coverage team to now nearly 30 individuals, representing a third of Source's total employees.
The new heads are:
David Lake, Managing Director, Head of United Kingdom (main picture above);
Marco Mautone, Managing Director, Head of Switzerland;
Sascha Specketer, Executive Director, Head of Germany & Austria;
Ludovic Djebali, Managing Director, Head of Frabelux;
Source: etf-magazine.com
Deutsche Bank expects huge EUR 6.7 bn net loss in 2015
January 21, 2016--German's largest bank, Deutsche Bank, on Wednesday said it expected an overall loss of 6.7 billion euros ($7.3 billion) for 2015, blamed on litigation costs, write-downs and restructuring charges.
Some of the losses had already been announced earlier in 2015 but the bank reported additional litigation charges of 1.2 billion euros in the fourth quarter.
Source: EUbusiness
International central bank committees release reports on fixed income markets
January 21, 2016--The Committee on the Global Financial System (CGFS) and the Markets Committee today released two reports on the structure and liquidity of fixed income markets.
The CGFS report, Fixed income market liquidity, finds signs of greater fragility, with liquidity conditions being more susceptible to disruptions, such as sudden stops of liquidity in key segments of the market and a deterioration of market depth metrics.
view the CGFS Papers No 55-Fixed income market liquidity
Source: BIS
