Global ETF News Older than One Year
IMF Working paper-Determinants of Financial Market Spillovers: The Role of Portfolio Diversification, Trade, Home Bias, and Concentration
October 17, 2014-- Summary: This paper defines financial market spillovers as the comovement between two countries' financial markets and analyzes financial market spillovers over the period 2001-12 through four channels: bilateral portfolio investment, bilateral trade, home bias, and country concentration. The paper finds that, if a country has a large amount of bilateral portfolio exposure in another country, these two countries' comovement of bond yields are large.
Also, countries' geographical preferences impact financial spillovers; if a country has a stronger home bias, the country could have less spillovers from foreign financial markets. A policy implication from this result is that, if countries become less home-biased and have a greater amount of portfolio investment assets, they should strengthen prudential regulations to mitigate against rising risks of financial spillovers (or risk greater volatility owing to comovement with foreign markets).
Source: IMF
Declines in commodity prices likely to continue through 2015, says WB report
October 16, 2014--Prices of most commodities, particularly oil, are expected to remain weak for the remainder of this year and through much of 2015, says the World Bank's latest issue of Commodity Markets Outlook, released today.
Growing concern over a slowdown in the Euro Area and emerging economies, a strong US dollar, a well-supplied oil market and good crop prospects have contributed to a weakening of many commodity prices since the summer. The World Bank energy price index declined by about 6 percent during the third quarter, after being broadly stable in the first half of the year.
"A broad-based expansion in commodity supply is coinciding with weakness in global growth, especially in emerging economies, where most of the demand expansion has been taking place," said Ayhan Kose, Director of the World Bank's Development Prospects Group.
view the World Bank Commodity Markets Outlook-October 2014 view the Infographic-Commodity Forecasts Just Released
Source: World Bank
Deutsche Borse partners with African Stock Exchange
Moreover, market participants in Africa will have technical access to a large pan-European trader network.
"The trading system is based on very stable and reliable technology, and also stands out due to its low latency. This high-level technology used by Deutsche Börse at its own trading venues-Xetra and the Frankfurt Stock Exchange-makes the markets more transparent and secure.
Source: Deutsche Börse
World's Risks Loom Large at Annual Meetings
Among them: much swifter action on the Ebola epidemic. "We have to get high-quality treatment and prevention services in those three countries immediately," said World Bank Group President Jim Yong Kim at a press conference following the Development Committee meeting.
"The humanitarian response, the public health response, and the response that can blunt the economic impact are all the same."
Source: World Bank
Corrigendum: IOSCO Securities Market Risk Outlook 2014-15
The Risk Outlook was issued on 1 October 2014.
For this reason, the charts 82 and 83 on page 68 of the Risk Outlook and their corresponding text have been removed. view the IOSCO Securities Market Risk Outlook 2014-15
Source: IOSCO
Government kicks off first RMB bond deal
The government has today (Thursday 9 October) announced it has begun the process of issuing the world's first non-Chinese sovereign bond in the Chinese currency, the renminbi (RMB).
Three major banks have been appointed by the government following a fair and rigorous process to help deliver the planned sale of Britain’s RMB bond.
This represents a decisive step towards issuing the first RMB denominated bond by a western country, and follows the Chancellor's announcement at the recent annual economic summit between the UK and China in London.
Source: HM Treasury
World Bank Group Launches New Global Infrastructure Facility
that has the potential to unlock billions of dollars for infrastructure in the developing world.
Source: World Bank
Cloudy Outlook for Growth in Emerging Europe and Central Asia
"The Emerging Europe and Central Asia region is facing some daunting challenges amid a cloudy outlook for growth," said Laura Tuck, Vice-President for the World Bank's Emerging Europe and Central Asia region. "The tensions in Ukraine have clearly had an impact on the country’s growth and have disrupted economic activity. But many of the structural problems that confront countries in the region existed before the crisis and still need to be urgently addressed." view the Infographic: ECA Regional Economic Update
Source: World Bank
ETFS Research Note-Platinum and Palladium: Price Corrections Bring Opportunity
While this doesn’t mean that prices couldn't fall further in the near-term on US dollar strength, with demand from the auto industry picking up and supply constrained by a structural decline in mine supply, we believe platinum and palladium prices have dropped to levels that are potentially highly attractive for long-term investors. As US demand continues to expand and China growth rebounds on aggressive monetary easing, we believe these metals have the potential to rebound strongly in the latter part of this year and 2015.
Source: ETF Securities Research
According to ETFGI ETFs and ETPs globally have gathered a record 199.0 billion US dollars in net new assets through the end of Q3 2014
The Global ETF/ETP industry has 5,463 ETFs/ETPs, with 10,510 listings, assets of US$2.6 Tn, from 225 providers listed on 61 exchanges, according to preliminary data from ETFGI's end Q3 2014 Global ETF and ETP industry insights report.
YTD NNA flows reached record levels for the ETF/ETP industries in Japan at US$15.0 Bn, Europe at US$47.4 Bn, and globally at US$199.0 Bn.
Source: ETFGI
First pan-African exchange to open in 2015 / Easier access for Xetra users to markets in Africa
October 16, 2014--
The African Stock Exchange (AFSX) plans to use the technology and support services of Deutsche Börse's Xetra trading venue. The AFSX is a start-up based in Mauritius with the objective of offering securities trading for the whole of Africa. Xetra trading participants will have easier access to the African financial markets in future through the Deutsche Börse infrastructure.
October 11, 2014--Ebola, climate change, lack of money for crucial infrastructure- the world's risks loomed large as the World Bank Group-IMF Annual Meetings drew to a close. But solutions, too, were on the table.
October 10, 2014--It has come to IOSCO's attention that two charts published in its Securities Market Risk Outlook 2014-15 have raised concerns regarding the accuracy of the underlying data on which the charts are based.
October 9, 2014--Three major banks have been appointed by the government following a fair and rigorous process to help deliver the planned sale of Britain's RMB bond.
Move paves way for institutional investors to help fill infrastructure gaps in developing world: US$1 trillion a year in extra investment needed through 2020.
October 9, 2014--The heads of some of the world's largest asset management and private equity firms, pension and insurance funds, and commercial banks are today joining multilateral development institutions and donor nations to work as partners in a new Global Infrastructure Facility (GIF)
Ukraine Crisis has Impact, but Long-Term Reform Challenges also Remain
October 8, 2014--Growth in the Emerging Europe and Central Asia (ECA) region remains tepid, with GDP growth for the region expected to be only 1.8 percent in 2014 and improving slightly up to 2.1 percent for 2015, the World Bank said during the 2014 World Bank/IMF Annual Meetings.
October 7, 2014--Summary
Platinum and palladium prices have fallen sharply over the past weeks, with platinum now trading more than 10% below its estimated marginal cost of production.
October 7, 2014--ETFGI's research finds ETFs and ETPs globally have gathered a record 199.0 billion US dollars in net new assets through the end of Q3 2014, surpassing the previous high of US$185.8 Bn set in the first three quarters of 2012.
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