Global ETF News Older than One Year
Junk-Bond Defaults Growing as Pressure From Commodities Persists
June 12, 2015--U.S. junk-bond defaults rose to the highest level since October 2009 as depressed prices plague energy, metal and mining issuers that represent the largest contingent of debt from the riskiest companies.
There were nine defaults in May, including iron processor Magnetation LLC and Patriot Coal Corp., according to Fitch Ratings, with energy and metals and mining companies accounting for all of them. The two industries comprised 93 percent of defaults in the second quarter.
Source: Bloomberg
GoldMoney weekly market report and customer metrics
June 12, 2015--Silver in the spotlight
GoldMoney customers have had a busy few days with trading volumes up on the previous week.
Kelly-Ann Kearsey, Dealing Manager, at the online bullion dealer, GoldMoney, said: 'Silver has been the centre of attention for our customers with its current price bringing out the bargain hunters. Gold saw a three day rally which encouraged some profit taking, but the market overall is being run by US data.'
Source: scoop.co.nz
IEA Oil Market Report
June 11, 2015--Product market strength and rising tension throughout the Middle East supported global crude oil prices in May and through early June. At the time of writing, ICE Brent was trading at around $65.95/bbl, while US WTI was at $61.50/bbl.
Global oil supplies fell by 155 kb/d in May to 96 mb/d on lower non-OPEC output, but remained at a steep 3.0 mb/d above last year. Annual growth slowed marginally from March and April and remained roughly split between non-OPEC and OPEC countries. The forecast of non-OPEC supply growth for 2015 have been raised to 1 mb/d.
OPEC supply in May edged up 50 kb/d to 31.33 mb/d, the highest since August 2012. Saudi Arabia, Iraq and the UAE pumped at record monthly rates to keep output over 1 mb/d above OPEC's official supply target for a third month running. Oil ministers agreed to maintain that target at their 5 June meeting.
Source: (IEA) International Energy Agency (IEA)
Implementation monitoring of the PFMIs: Second update to Level 1 assessment report
June 11, 2015--The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) have today published the second update to the Level 1 assessments of implementation monitoring of the Principles for financial market infrastructures (PFMIs).
Level 1 assessments are based on self-assessments by individual jurisdictions on how they have adopted, within their regulatory and oversight frameworks, the PFMIs' 24 Principles for FMIs and four of the five Responsibilities for authorities.
view the Implementation monitoring of PFMIs: Second update to Level 1 assessment report
Source: IOSCO
Report Says Rich Nations Face Rising Risks of Cyberattacks
June 11, 2015--Wealthy nations face a high and fast-growing threat of cyberattacks while risks from terrorism increasingly are confined to poorer, conflict-stricken countries, according to a defense outlook report by the consultancy Deloitte.
Recent data breaches in the U.S. and Japan are sharpening concerns over cybersecurity and such worries are warranted, the report said.
Source: ABC News
G20 GDP Growth-First quarter of 2015, OECD
G20 GDP growth slows slightly to 0.7% in first quarter of
June 11, 2015--Quarterly Gross Domestic Product (GDP) in the G20 area grew by 0.7% in the first quarter of 2015, slightly down from 0.8% in the previous quarter, according to preliminary estimates. However, patterns diverged across countries.
Among G20 economies, GDP contracted in Canada (by 0.1%), the United States (by 0.2%),and Brazil (by 0.2%), following positive growth of 0.6%, 0.5% and 0.3%, respectively, in the previous quarter. GDP growth also eased significantly in South Africa (to 0.3%, compared with 1.0% in the previous quarter), and to a lesser extent in Mexico (to 0.4%, compared with 0.7% in the previous quarter), Germany and the United Kingdom (to 0.3%, down from 0.7% and 0.6%, respectively, in the previous quarter). In China and Indonesia, GDP growth slowed slightly (to 1.3% and 1.1%, respectively, compared with 1.5% and 1.2%, respectively, in the previous quarter).
Source: OECD
MSCI Says Market Access Holds Key to China's A Shares
June 11, 2015--The firm is working with Chinese authorities to address access issues and pave the way for including A shares in MSCI's EM index.
China's booming A-share market and capital market reforms got a mixed review earlier this week as MSCI announced that the country would have to provide greater market access to foreign investors before it would include mainland-listed stocks in its benchmark MSCI Emerging Markets Index.
Source: Institutional Investor
The 48% slump in SPDR holdings shows gold is out of favour
Assets in the world's biggest gold-backed exchange-traded product slumped to the lowest since the start of the financial crisis.
June 11, 2015--Assets in the world's biggest gold-backed exchange-traded product slumped to the lowest since the start of the financial crisis as equities rallied and investors prepared for the onset of higher U.S. interest rates, hurting demand.
Holdings in the SPDR Gold Trust dropped 0.2 percent to 704.22 metric tons on Wednesday, the lowest level since September 2008.
Source: MineWeb
DMS-Deciphering Developing Markets-Emerging Markets: India to revamp labour laws
June 11, 2015--Prime Minister Narendra Modi has now turned his attention to the antiquated labour laws that have seriously hindered the manufacturing sector in India. He will need to do so if he wants his signature programme "Make in India" to be a success.
Currently, any factory that has more than 100 workers needs permission from the government in order to lay anyone off. Of course, the government hardly ever grants that permission, so a lot of factories just don't hire that 100th person. Sound familiar? Mr. Modi has proposed that the 100 worker limit be raised to 300. He also proposes making it harder for unions to organize workers, or for the workers to go on strike.
Source: Peter Kohli of DMS for Nasdaq.com
Competition hots up among fixed income ETF brokers
June 10, 2015--Liquidity-starved bond investors are pouring money into fixed income exchange-traded funds
fuelling competition between broker dealers as they ramp up their market making businesses in the asset class.
Source: Financial News
