Global ETF News Older than One Year
ETF Securities Research-Precious Metals Weekly-
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.
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
March 2, 2015--The European Securities and Markets Authority (ESMA) has published an 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
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.
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
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.
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
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.
What's in a global mining ETF?
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.
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
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.
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
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.
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
IOSCO Reviews Implementation of Financial Benchmark Principles
February 25, 2015--The International Organization of Securities Commission (IOSCO) today published the Review of the Implementation of IOSCO's Principles for Financial Benchmarks.
The report sets out the findings of IOSCO's review of the implementation of its Principles for Financial Benchmarks (Principles) by a sample of administrators of financial benchmarks across a range of geographical areas and asset classes. It was prepared by a Review Team, constituting members of the IOSCO Board-level Task Force on Financial Market Benchmarks.
view the Review of the Implementation of IOSCO's Principles for Financial Benchmarks
Source: IOSCO
Report: Mitigating Political & Regulatory Risk for Successful Infrastructure Projects
February 25, 2015--The world's huge infrastructure demand cannot be met by the public sector alone; private investors and operators are needed, but they worry about political and regulatory risk.
Today, political and regulatory risk takes many forms-from community protests to tightened regulations and corruption-and is relevant in both developing and industrialized countries.
A new report, Mitigation of Political & Regulatory Risk in Infrastructure Projects, has been launched today as part of the World Economic Forum's Strategic Infrastructure Knowledge Series.
Political and regulatory risk is one of the major constraints on infrastructure investment decisions. It takes different forms over an infrastructure project's life cycle, from delayed construction permits and community protests to breach of contract, tightened regulations and the non-renewal of licences. In addition, some broader risks apply throughout the life cycle-changes to taxation laws, for instance, and endemic corruption.
Source: World Economic Forum
IOSCO Report Compares, Analyses Prudential Standards in the Securities Sector
January 24, 2014--The International Organization of Securities Commissions (IOSCO) published today the final report A Comparison and Analysis of Prudential Standards in the Securities Sector, which makes a high level comparative analysis of the key prudential/capital frameworks for securities firms.
The report seeks to highlight similarities, differences and gaps among the different frameworks. IOSCO's objective is to update its 1989 Report on Capital Adequacy Standards for Securities Firms (Capital Standards Report), based on the issues identified in this final report.
view the A Comparison and Analysis of Prudential Standards in the Securities Sector
Source: IOSCO
