World Undergoing Major Population Shift with Far-reaching Implications for Migration, Poverty, Development: WB/IMF Report
October 7, 2015--As migrants and refugees from Africa and the Middle East continue to arrive in Europe in unprecedented numbers, a new World Bank/IMF report says that large-scale migration from poor countries to richer regions of the world will be a permanent feature of the global economy for decades to come as a result of major population shifts in countries.
According to the Global Monitoring Report 2015/2016: Development Goals in an Era of Demographic Change, released in Peru at the start of the Annual Meetings of the World Bank and the IMF, the world is undergoing a major population shift that will reshape economic development for decades and, while posing challenges, offers a path to ending extreme poverty and shared prosperity if the right evidence-based policies are put in place nationally and internationally.
view moreP>view the Global Monitoring Report-Development Goals in an Era of Demographic Change
Source: World Bank
Unscheduled free float adjustment in SDAX
Changes to be effective as of 9 October
October 6, 2015--Deutsche Börse AG has announced an unscheduled adjustment to the free float of DO Deutsche Office AG in SDAX.
Due to the acquisition of alstria office REIT-AG, the free float of DO Deutsche Office changed by more than 10 percentage points.
According to the rules in the Guide to the Equity Indices of Deutsche Börse AG, the company's free float will be adjusted in the index from the current 39.46 percent to 29.00 percent. The changes will become effective on Friday, 9 October 2015.
Source: Deutsche Börse
Uncertainty, Complex Forces Weigh on Global Growth
October 6, 2015--Global growth moderate and uneven, forecast at 3.1 percent this year, 3.6 percent in 2016
Disparate fortunes between the advanced and emerging market and developing economies
Lower commodity prices weigh on commodity exporters
The IMF'ss latest World Economic Outlook (WEO) foresees lower global growth compared to last year, with modest pickup in advanced economies and a slowing in emerging markets, primarily reflecting weakness in some large emerging economies and oil-exporting countries.
view the World Economic Outlook (WEO)-Adjusting to Lower Commodity Prices
Source: IMF
WGC-Investment statistics-Currencies
October 2, 2015--The World Gold Council-Investment statistics-Currencies is now available.
Source: WGC(World Gold Council)
Company share listings set to accelerate
October 2, 2015--Volatile stock markets have not deterred German companies from listing their shares this week
while a hefty pipeline of deals is building in the US
Source: FT.com
Here's how much money was wiped off global stock markets last quarter
October 1, 2015--It was the worst quarter since 2011.
Global equity markets suffered a bruising third quarter, shedding $11 trillion worth of global shares over three months, according to Bloomberg.
It was the market's worst quarter since 2011. The prolonged slump was due to low prices for commodities such as oil, instability in China's markets, and the anticipation that the U.S. Federal Reserve will soon raise interest rates.
Source: Fortune
Report on the regulatory consistency of risk-weighted assets for counterparty credit risk issued by the Basel Committee
October 1, 2015--The Basel Committee on Banking Supervision has today published a report on the regulatory consistency of risk-weighted assets (RWAs) for counterparty credit risk.
This study is a part of its wider Regulatory Consistency Assessment Programme (RCAP), which is intended to ensure consistent implementation of the Basel III framework.
The report presents the findings from a hypothetical test portfolio exercise to examine variability in banks' modelling of derivatives, and specifically in exposure modelling.
Source: BIS
Eurex: Trading statistics September 2015
Eurex Exchange: ADV 7.5 million contracts, 16 percent growth year-on-year/ISE: ADV 2.4 million contracts
October 1, 2015--In September 2015, the international derivatives markets of Eurex, part of Deutsche Börse Group, recorded an average daily volume of 9.9 million contracts (September 2014: 9.1 million).
Of those, 7.5 million were Eurex Exchange contracts (September 2014: 6.5 million), and 2.4 million contracts (September 2014: 2.6 million) were traded at the New York based International Securities Exchange (ISE).
The volume traded on the spot and derivatives power markets of the European Energy Exchange (EEX) amounted to 268.8 terawatt hours (September 2014: 184.2 TWh). Eurex Repo recorded in all markets in September 2015 an average outstanding volume of 147.0 billion euros.
Source: Eurex
IMF Working paper-Capital Controls or Macroprudential Regulation?
October 1, 2015--Summary: International capital flows can create significant financial instability in emerging economies because of pecuniary externalities associated with exchange rate movements. Does this make it optimal to impose capital controls or should policymakers rely on domestic macroprudential regulation?
This paper presents a tractable model to show that it is desirable to employ both types of instruments:
Macroprudential regulation reduces overborrowing, while capital controls increase the aggregate net worth of the economy as a whole by also stimulating savings. The two policy measures should be set higher the greater an economy's debt burden and the higher domestic inequality. In our baseline calibration based on the East Asian crisis countries, we find optimal capital controls and macroprudential regulation in the magnitude of 2 percent. In advanced countries where the risk of sharp exchange rate depreciations is more limited, the role for capital controls subsides. However, macroprudential regulation remains essential to mitigate booms and busts in asset prices.
view IMF Working paper-Capital Controls or Macroprudential Regulation?
Source: IMF
A record number of new ETF/ETP providers have entered the US ETF industry in 2015 according to ETFGI
October 1, 2015--A record number of new ETF/ETP providers have entered the US ETF industry in 2015 according to ETFGI
2015 has been a busy time for the ETF industry.
Nineteen new ETF/ETP providers have entered the ETF industry in the United States during the first 9 months of 2015, beating the prior full year records of 15 new providers entering the ETF industry in both 2014 and 2009, according to new analysis from ETFGI.
Collectively the 19 new providers have launched a total of 37 products, accounting for $1.1 billion in assets as of the Sept 29th. The majority, or 21, of these new launches follow Smart Beta strategies,...
Source: ETFGI