Global ETF News Older than One Year
DB-Synthetic Equity & Index Strategy-Global-The Flow Whisperer-TAARSS says prefer Intl DM and EM equities in May
May 4, 2015--Tactical Asset Allocation Relative Strength Signal (TAARSS) Monthly Update
Top recommendations for May: Intl DM, EM, Hong Kong, and Indian equities, and Energy Commodity.
Market review
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Risky assets had a good month in April with Global equities (ACWI) and Commodities (DBC) advancing by 2.9% and 7.1%, respectively. While US bonds (AGG) edged slightly lower by 0.3%.
TAARSS rotation strategy monthly performance review
The monthly equity regional and market, and the commodity sector TAARSS rotations recorded the best results of our model for the month of April.
Tactical positioning for May 2015 based on TAARSS
This month in global equity markets prefer Intl DM and EM, and stay neutral to the US. Region wise prefer Europe and Asia Pacific, with some Latin America exposure, while keeping a minimal allocation to North America. In US equities prefer Small and Mid caps over Large caps. Sector wise Defensives ex Utilities present the best support in the US, especially Telecom. Domestic Cyclicals are experiencing some selling pressure. In Intl DM countries prefer Hong Kong, Japan, and Germany. Within EM countries, most of them experienced positive support with India continuing to show strong investment demand support despite its second month of performance setback; in addition, China, Mexico, and Russia also exhibited some noteworthy support. In Fixed Income we did not see any notable flow trend readings. Within commodities, we saw some positive developments for energy. See Figure 13 and Figure 14 for full allocation details for the month of May.
Source: Deutsche Bank-Synthetic Equity & Index Strategy-Global
Experts see trouble ahead from MiFID II
Rules for non-equity trading could wind up pinching asset owners
May 4, 2015--European market regulators' efforts to apply equity templates to trading in other asset classes will be felt by U.S. money managers and asset owners through higher trading costs,
reduced investment performance and a potential move to more in-house management by asset owners, industry analysts said.
Oil hits 2015 high as traders look beyond ample current supply
May 4, 2015-Oil's collapse in 2014 was due to ample supply and the refusal by the Organization of the Petroleum Exporting
Countries to cut output.
Source: AME Info
IMF-Rethinking Financial Deepening: Stability and Growth in Emerging Markets
May 4, 2015-Summary: The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience.
It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation-not necessarily more regulation-thus leads to greater possibilities both for development and stability.
Source: IMF
Male Investors vs. Female Investors
Studies show men and women could learn from the other's approach
May 3, 2015--When it comes to investing, men sometimes have their ways of doing things, and women have different ways.
And each could learn from the other.
Broad generalizations, of course, are inherently risky. And nobody would suggest that gender drives investment success.
Source: Wall Street Journal
Male Investors vs. Female Investors
Studies show men and women could learn from the other's approach
May 3, 2015--When it comes to investing, men sometimes have their ways of doing things, and women have different ways.
And each could learn from the other.
Broad generalizations, of course, are inherently risky. And nobody would suggest that gender drives investment success.
Source: Wall Street Journal
IMF Working paper- How Important are Debt and Growth Expectations for Interest Rates?
May 1, 205--Summary: This paper uses a dataset on private-sector risk aversion as well as expectations of long-run growth and debt to explain trends in implied forward rates on government bonds in the G-7 countries.
The results show, consistent with the literature, that a one-percent rise in the long-run projected debt-to-GDP ratio causes an increase in bond yields of a relatively modest 1-to-6 basis points. Shocks to growth expectations and risk aversion have been comparatively more successful in explaining the behavior of long-term rates. The findings imply that growth policies rather than long-run projections of fiscal outcomes may be more important in helping influence long-term borrowing costs.
view the IMF Working paper- How Important are Debt and Growth Expectations for Interest Rates?
Source: IMF
State Street Global Advisors-Weekly Market Report
May 1, 2015--This Week's Highlights-Economies
The Fed and Bank of Japan leave policy unchanged. GDP growth stalls in the US. Growth slows in Canada and the UK.
Liquidity continues to improve in the eurozone. Industrial production falls again in Japan.
Credit growth is accelerating in Australia. More stimulus likely coming for China. Brazil's central bank tightens but Russia's eases.
Markets
An unsettled week in markets. Equities and G7 government bonds both decline. USD falls for the third straight week.
Oil continues to grind higher.
Next Week Previewed
Spotlight
The Reserve Bank of Australia is expected to ease. The UK national election is too close to call. A solid payroll gain and lower unemployment is expected in the US. Unemployment likely rises in Canada and Australia.
Source: spdru.com
DECPG Global Weekly
May 1, 2015--Taking Stock
U.S. GDP grew at a slower-than-expected pace in Q1 2015. According to the Commerce Department flash estimate,
the U.S. economy grew by 0.2 percent (q/q saar) in Q1 2015, slowing sharply from Q4's 2.2 percent growth, owing in part to
the harsh winter and the work stoppage at the West Coast ports.
Growth in personal consumption expenditures slowed. Exports fell more-than-expected, reflecting the impact of the strong dollar. Nonresidential fixed investment and government spending dropped. At the same time, U.S. first-time jobless claims fell to 262,000 in the week ended April 25th, the lowest level since April 2000.
Source: World Bank
Data deprivation: another deprivation to end
April 30, 2015--About half the countries studied in the recent paper, Data Deprivation, Another Deprivation to End are deprived of adequate data on poverty.
This is a huge problem because the poor, who often lack political representation and agency, will remain invisible unless objective and properly sampled surveys reveal where they are, and how they’re faring. The lack of data on human and social development should be seen as a form of deprivation, and along with poverty, data deprivation should be eradicated.
view the Data Deprivation Another Deprivation to End report
view the Infographic: Much of the World is Deprived of Poverty Data
Source: World Bank
