Global ETF News Older than One Year
The Flow Whisperer-TAARSS says prefer International DM such as Europe and Japan
March 4, 2015--Tactical Asset Allocation Relative Strength Signal (TAARSS) Monthly Update
Top recommendations for March: European equities and Germany with currency hedge,Japan,US Aerospace & Defense,and Indian equities.
Market review
Risky assets received a boost in February with Global equities (ACWI) and Commodities (DBC) rising 5.5% and 4.4%,respectively. While US bonds (AGG) lagged behind losing 0.9% on rising rates concerns.
TAARSS rotation strategy monthly performance review
Last month,monthly TAARSS strategies outperformed or were in line with their benchmarks; while quarterly rotation strategies have been mixed QTD.
Tactical positioning for March 2015 based on TAARSS
Within equities we see strong investment demand support in DM Intl,and neutral support for the US,and EM for March. Within regions prefer Europe (with FX hedge) followed in the distance by Asia Pacific,remain neutral North America,and away from Latin America. Within the US,we again prefer Small and Mid Caps over Large Caps for March,or a total market or equal weighting approach. In terms of sectors,flows suggest a rotation into Global Cyclicals (Materials,Energy) away from Domestic Cyclicals,while maintaining some Defensives (Cons. Staples,Health Care) exposures. In International DM countries we see increased investor confidence,prefer Germany (with FX hedge) or Japan. For EM equities we continue to see India with the strongest support. Among other equity themes we see good support for US Aerospace & Defense. In fixed income,signals suggest credit over rates via US Corporate Debt (HY and IG). Lastly for commodities,we continue to see some support to Energy,but remain cautious.
Source: Deutsche Bank-Synthetic Equity & Index Strategy-Global
Basel III monitoring results published by the Basel Committee
March 3, 2015--The Basel Committee today published the results of its latest Basel III monitoring exercise. The study is based on the rigorous reporting process set up by the Committee to periodically review the implications of the Basel III standards for banks.
The results of previous exercises in this series were published in September 2014, March 2014, September 2013, March 2013, September 2012 and April 2012.
A total of 224 banks participated in the current study, comprising 98 large internationally active banks ("Group 1 banks"), defined as internationally active banks that have Tier 1 capital of more than €3 billion) and 126 Group 2 banks (ie representative of all other banks).
view the Basel III Monitoring Report-March 2015
Source: BIS
Average daily volume of 7.6 million contracts at Eurex Group in February
March 2, 2015--An average daily volume of 7.6 million contracts (February 2014: 7.9 million) were recorded at the international derivatives markets of Eurex Group in February 2015. Of those, 5.8 million were Eurex Exchange contracts (February 2014: 5.4 million), and 1.8 million contracts (February 2014: 2.6 million) were traded at the U.S.-based International Securities Exchange (ISE).
In total in February, 116.8 million contracts were traded at Eurex Exchange and 34.2 million at ISE.
At Eurex Exchange, the equity index derivatives segment totaled 57.1 million contracts compared with 50.7 million in February 2014. The future on the EURO STOXX 50 Index recorded 19.8 million contracts, the options on this blue chip index another 23.3 million contracts. DAX index futures recorded 2.0 million contracts while the DAX options reached another 3.9 million contracts.
Source: Eurex
ETF Securities Research-Precious Metals Weekly-
A continuation of the recent trend in weaker than expected economic data and reduced FOMC rate hike expectations helped to support gold and bond prices on the back of news of increasing demand from China and India. Jittery investors remembering the NASDAQ at 5,000 15-years ago coupled with declining earnings, appear to be looking elsewhere for diversification. Palladium was the best performing PM with a gain of 4.8% and was the only PM to post an increase on the month (+5.8%). Gold is more likely to have bottomed near US$1,200/oz. if the VIX increases but silver and platinum appear cheap to gold. Palladium does not appear cheap to gold but has been the best performing metal the past few years, on the back of strong supply/demand trends. Rather than trying to be tactical in such an environment, a basket of precious metals may offer a better alternative asset option.
Source: ETF Securities Research
ESMA publishes overview of all guidelines and technical standards
The overview consists of tables which places each document (if linked to guidelines and technical standards) published by ESMA within the relevant workstream, and allows access to related documents. These tables will be updated on a regular basis.
Source: ESMA
DECPG Global Weekly-February 27, 2015
The benchmark MSCI Emerging Market Index rose 0.4 percent on Thursday, extending its monthly gain to 3.6 percent, the most since October 2013. Russia's RTS stock index surged 3.3 percent, and China's Shanghai
Composite Index climbed 2.2 percent to a 4-week high. China's manufacturing sector improved moderately. China's Markit flash manufacturing purchasing managers' index (PMI) rose to a 50.1 four-month high in February, from 49.7 in January. A reading above 50 signals expansion while one below 50 indicates contraction. Sub-components of the index suggest that while manufacturing output has increased marginally, firms still face considerable risks from weak foreign demand. Employment levels have also declined at an accelerated pace. Analysts believe that domestic economic activity will remain sluggish and external demand uncertain, so that more policy easing will be warranted to support growth.
Source: World Bank
SPDR University Weekly Market Report-February 27, 2015
Industrial production jumps in Japan. Capital expenditures fall in Australia.
MARKETS: Greece receives a 4-month extension on its bailout program. Fed Chair Yellen lays the groundwork for eliminating "patient" from forward guidance and eventually beginning rate hikes. Equities are mostly higher. Government bond yields are mostly lower.
EUR falls. Oil is up.
NEXT WEEK PREVIEWED What's in a global mining ETF?
This means the global titans of the mining sector. BHP Billiton, Rio Tinto and Glencore account for about a third of the iShares MSCI Global Metals & Mining Producers ETF's weightings. Ten miners, the aforementioned diversifieds included, make up just over half the fund's holdings.
Source: MineWeb
ETF Group Ringing Exchange Bells Around World To Honor International Women's Day
The group, Women In ETFs (WE), has partnered with exchanges in New York, Chicago, Paris, London, Frankfurt, Hong Kong, Zurich and Sydney to honor International Women’s Day on March 8.
Source: FA-mag.com
WEF-Seven Ways Geo-economics is Changing the Global Economy
According to the report, Seven Challenges to Globalization, the re-emergence of geo-economics comes at a time when many states in the developed world-including Europe and the United States-faced with high levels of public debt and weak domestic support for engagement are choosing to project power through economics rather than military force. This, in turn, is weakening multilateral institutions designed to safeguard the free flow of trade and investment, such as the World Trade Organization, and making conditions for international trade more difficult. view the WEF report-Geo-economics: Seven Challenges to Globalization
Source: World Economic Forum
March 2, 2015--Gold recovers despite a new 12-year high in the US dollar index. Gold ended the final week of February with a bit of upward momentum, having held US$1,200/oz. support despite a new low for the year in the VIX and high for the US dollar.
March 2, 2015--The European Securities and Markets Authority (ESMA) has published an overview of all guidelines and technical standards.
February 27, 2015--Developing-country equities rallied. Developing-country stocks are heading for their highest level since November, as signs of de-escalation in the Ukraine crisis and growing speculation about China's additional monetary easing boosted investors' risk appetite.
February 27, 2015--ECONOMIES: Inflation goes slightly negative in the US. Inflation also slows in Canada. Consumer confidence remains high in the UK.
Broad money and credit growth are improving in the eurozone.
SPOTLIGHT: The Reserve Bank of Australia and possibly the Bank of Canada cut policy rates again. The Bank of England remains on
hold. The European Central Bank launches its expanded quantitative easing program. Another solid employment gain is expected
for the US. GDP likely rises moderately in Canada and Australia.
February 26, 2015--What are you buying in a mining ETF like iShares MSCI Global Metals & Mining Producers ETF?
Here, above all, you're getting the diversified miners.
February 26, 2015--A group that aims to further women's careers in the exchange-traded fund industry will be ringing the bells at eight exchanges around the world in March.
February 26, 2015--The world is witnessing a rise in geo-economics, where the main global battlefield is economic rather than military. And with sanctions, competing trade regimes, currency and price manipulation increasingly taking the place of conventional warfare, the implication of these forces could be an unravelling of the global economy, a new report by the World Economic Forum's Global Agenda Council on Geo-economics finds.
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