Global ETF News Older than One Year
ETF Securities Precious Metals Weekly-Fed Tightening-Another Consensus to Fade?
March 30, 2015--Who might be wrong? Most of the world is trying to fight deflation on an unprecedented scale, yet
the Federal Reserve's (Fed) rhetoric continues to focus on hiking rates soon to fight inflation. Declining
bond yields indicate the bond market appears more focused on disinflation. Can they both be right?
There may be an ulterior Fed motive? Last week, St. Louis Fed President James Bullard hinted at the true reason for Fed official tightening rhetoric, "raise rates or face devastating bubbles". Beware of consensus views. At the beginning of 2014, increasing bond yields and commodity prices were consensus views.
What did that consensus miss that they might be missing now? The market may not conform to the latest Fed tightening consensus.
Source: ETF Securities
Cantor Fitzgerald Adds Veterans to Emerging Markets Debt Capital Markets Team
March 30, 2015--Cantor Fitzgerald, a leading global financial services firm, today announced the expansion of its Emerging Markets Debt Capital Markets sales and trading team with the appointments of Dray Simpson, Alex Yulman and Michael Barfoot as Managing Directors.
Mr. Simpson will be based in London and Mr. Yulman and Mr. Barfoot will be based in New York.
Source: Cantor Fitzgerald
Regulators compete to predict worst fund havoc
March 29, 2015--Watchdogs compete to sound the scariest warnings about the fund industry, says Steve Johnson
Global financial regulators appear to be engaged in their own private game.
The winners will be those who can sound the scariest warnings about the damage the ever-expanding asset management industry could be set to inflict on humanity.
Source: FT.com
Stock indices search for a formula for bigger fees
March 29, 2015--Stock indices used to be simple barometers of market returns. Now they are the basis for investment strategies, used either as benchmarks or as the actual strategy in the case of passive investment, and they are big business.
In recent years passive investment, replicating market returns instead of trying to outperform, has gained popularity for its reliability and low costs.
Source: FT.com
Dwindling debuts threaten to slow European junk's growth
March 27, 2015-Private equity firms shun high-yield
Debut deals slow but stalwarts take advantage
Bond to bond deals push in pricing
European high-yield issuance may be up a whopping 89% on the year, but the steady stream of companies replacing loans with bonds has dried up in recent months.
Source: Reuters
STOXX licenses new ASEAN Select Dividend 30 Index to Thailand's One AM
March 27, 2015--STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced that it has released the STOXX ASEAN Select Dividend 30 Index and licensed it to One AM, a Thai asset manager.
The index allows market participants to take advantage of investing in ASEAN companies with high dividend payouts. ASEAN countries form one of the fastest growing region in the world.
"ASEAN offers a positive mix of high growth rates, a young population and growing trade and investment," said Hartmut Graf, chief executive officer, STOXX Limited. "Our index offers a unique tool to those looking to benefit from a dividend strategy based on companies in this region. Having One AM license this new index also marks an important step for STOXX in our Asian expansion path."
Source: STOXX
DECPG Global Weekly-March 27, 2015
March 27, 2015--Taking Stock
U.S. inflation edged up in February. U.S. consumer prices edged up 0.2 percent (m/m) in February after falling 0.7 percent in January. A rebound in energy prices, along with an increase in food prices, contributed to the increase of the headline consumer price index.
The core consumer price index also rose by 0.2 percent. On a yearly basis, headline inflation remained negative (Figure 1). Meanwhile, U.S. GDP growth in Q4 was confirmed at 2.2 percent (q/q, saar).
ECB increased the ceiling for emergency liquidity assistance to Greek banks. The European Central Bank (ECB) approved an increase of the ceiling for Emergency Liquidity Assistance to Greek banks by more than €1 billion to just over €71 billion (40 percent of Greek GDP), which will help alleviate short-term cash needs in the banking system. Greece has until Monday to offer details on reform commitments if it is to receive further Eurozone aid payments.
Japanese economic outlook upgraded. The Japanese government upgraded its assessment of the economy for the first time in eight months. In the monthly report released by the Cabinet Office, the government said the Japanese economy is on a moderate recovery, citing improvements in corporate profits, a pick-up in industrial production, and steady strengthening of private consumption.
Ukraine sought debt restructuring. The Ukrainian government urged its international creditors, including Russia, to negotiate a debt-restructuring deal now or risk facing bigger losses. As part of an International Monetary Fund financial support package that was approved last week, Ukraine is looking to restructure $15 billion of external debt (11 percent of GDP) over the next 4 years. With $7.7 billion of debt-service payments due this year, Ukraine has limited recourse to meet its external obligations as the country’s international reserves shrank to a record low of $5.6 billion (less than 15 percent of short term debt)in February.
Source: World Bank
Borse Dubai Sells Its Stake in London Stock Exchange Group
March 26, 2015--Borse Dubai said on Thursday that it had sold its entire 17.4 percent stake in the London Stock Exchange Group, ending its nearly eight-year ownership in the stock market operator.
Borse Dubai, the holding company for the Dubai Financial Market and Nasdaq Dubai, said that it had sold its stake through a block sale, but it did not disclose who bought the stake or the terms of the deal.
Source: New York Times
Carney says see risk of disorderly unwinding of portfolios
March 26, 2015--The global financial system is safer but there is no room for complacency because of to concerns about the international bond market, Financial Stability Board Chairman Mark Carney said on Thursday.
The FSB coordinates financial regulation for the Group of 20 economies (G20) and has been introducing tougher rules for banks and markets to plug gaps highlighted by the 2007-09 financial crisis.
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Source: Reuters
World Gold Council-Gold in a rising dollar environment
This issue also includes articles on:
Generally, there is an inverse correlation between gold and the dollar. However, our analysis shows it is asymmetrical: the gold price increases more when the dollar weakens, than it falls when the dollar strengthens. In our view, the dollar's relationship with gold has changed dramatically over the past decades and is likely to shift further as demand moves East and the world moves to a multicurrency system. view the WGC report-Gold Investor
Source: World Gold Council (WGC)
March 26, 2015--In this eighth edition of Gold Investor we take a closer look at gold's performance and its relevance for investors in the current environment, paying close attention to:
Gold in a rising dollar environment
The factors that drive gold
The relationship between gold and US Interest rates. Gold in a rising dollar environment
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