Global ETF News Older than One Year
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.
view more
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)
DMS-Capitalist Vietnam?/Two Escaped the Fragile Five
No other country in the poll cracked 90%. Even in the United States-where "socialist" can be used as an insult-only 70% agreed that a free market economy is the best kind of economy."
Source: DMS Funds
IOSCO Issues Final Code of Conduct Fundamentals for Credit Rating Agencies
The revisions to the IOSCO CRA Code are designed: 2) to strengthen the IOSCO CRA Code by adding measures regarding governance, training, and risk management; and
3) to improve the clarity of the IOSCO CRA Code by adding definitions of key terms and revising existing definitions, updating terminology, restructuring existing provisions to better group them thematically, and eliminating extraneous text. view more view the Code of Conduct Fundaments For Credit Rating Agencies-Final Report
Source: IOSCO
Palladium ETFs see biggest weekly outflow since August
Palladium ETFs, popular investment vehicles which issue securities backed by physical metal, saw outflows of nearly 50,000 ounces in the week to Friday, Reuters data showed.
Souirce: Mineweb.com
MSCI and The Nigerian Stock Exchange Sign Strategic Agreement to Develop and Commercialize Co-branded Indexes
Existing and future indexes will be co-branded as the MSCI/NSE Indexes, including the flagship NSE 30 Index and NSE 50 Index, which will become the MSCI/NSE 30 Index and the MSCI/NSE 50 Index, respectively. Additional indexes will also be jointly developed and launched in the future based on client demand and market development. The indexes will be used as performance benchmarks and as the basis for index-linked products for investors seeking exposure to the Nigerian capital markets.
Source: MSCI
ETF Securities Precious Metals Weekly-Waiting for Inflation Lifts the Tide
So why has the Fed's rhetoric been so hawkish previously? There are likely
two primary reasons: the declining unemployment rate (which the Fed mentions) and the increasing bubble risk in the stock market (which the Fed does not mention). Essentially, the
stock market has been among the few areas with persistently inflated prices. More recently, bond prices have been moving persistently higher. Since the end of 2013, treasury bonds
have returned about double that of the S&P 500. The bottom-line indicator for the fed to tighten should be the bond market. Inflation expectation is the primary driver of treasury
bond yields. The US 10yr ended the week at 1.94% and yields have been trending lower over the past 12-months. When the fed last started a tightening cycle, in June of 2004, the 10yr was yielding above 4.5% and trending higher. The table below depicts how off-base fed
tightening rhetoric may be with 47mn people on food stamps (about 15% of the population) and total debt to GDP above 100%, and still growing. Increasing fed tightening expectations, the stronger US dollar and low equity market volatility have been some key pressure factors
on precious metals. A few of these bearish factors appear close to reversing.
Source: ETF Securities
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
March 24, 2015--Capitalist Vietnam?
"Communist Vietnam loves Capitalism" was the title of a USA Today article that caught my attention. "Almost all Vietnamese people-95% of them-now support capitalism, according to the Pew Research Center, which polled nearly 45 nations late last year on economic issues.
March 24, 2015--The International Organization of Securities Commissions (IOSCO) published today the final report on Code of Conduct Fundamentals for Credit Rating Agencies, which includes significant revisions and updates to the current IOSCO Code of Conduct for Credit Rating Agencies (IOSCO CRA Code).
1) to strengthen the IOSCO CRA Code by enhancing provisions regarding protecting the integrity of the credit rating process, managing conflicts of interest, providing transparency, and safeguarding non-public information;
Palladium ETFs saw outflows of nearly 50,000 ounces in the week to Friday.
March 24, 2015--Palladium-0backed exchange-traded funds saw their biggest weekly outflows since August last week as prices of the white metal reversed the trend of the last two years to fall as gold, silver and platinum rose.
March 23, 2015--MSCI Inc. (NYSE: MSCI), a leading provider of investment decision support tools worldwide, and The Nigerian Stock Exchange (NSE), the stock exchange servicing the largest economy in Africa, today announced a strategic co-operation agreement to develop and market a co-branded family of indexes for the Nigerian equity markets.
March 23, 2015--The Fed lifts most markets by acknowledging disinflation. Bonds should be the key indicator. There is no inflation. Unfortunately, there is very little risk of inflation. It remains the elusive dream. At last weeks' meeting, the FOMC lowered the unemployment rate target expected to generate inflation (NAIRU) to 5.0-5.2% and appeared to shift focus to waiting for actual inflation.
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