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Oil falls to $70, lowest in more than three months
may 17, 2010--US oil prices fell below $70 a barrel on Monday to their lowest in over three months, extending a loss of more than 18 percent so far in May on concerns over Europe’s debts, the weak euro and swollen US oil inventories.
The euro sank to four-year lows as Europe’s debt crisis led investors to pull more money from stocks in favor of havens such as gold and Asian bonds. Base metals slid to three-month lows as investors shunned riskier assets and on doubts over the prospects for growth. US crude for June delivery fell more than $1 to a low of $69.82 a barrel, its weakest since Feb. 5.
BlackRock-ETF Landscape: Industry Highlights - End April 2010
May 14, 2010--Global ETF and ETP Industry end April 2010:
* The global ETF industry had 2,189 ETFs with 4,354 listings, assets of US$1,113.1 Bn, from 122 providers on 42 exchanges around the world.
European ETF and ETP Industry end April 2010:
* The European ETF industry had 932 ETFs with 2,748 listings, assets of US$234.3 Bn, from 36 providers on 18 exchanges.
* Net new assets into European domiciled ETFs/ETPs totalled US$14.3 Bn YTD, with Emerging Market equities receiving US$3.3 Bn net inflows, followed by Fixed Income with US$3.1 Bn and Commodities with US$2.5 Bn net new assets YTD.
United States ETF and ETP Industry end April 2010:
* The US ETF industry had 839 ETFs, assets of US$764.0 Bn, from 28 providers on two exchanges.
* Net new assets into US domiciled ETFs/ETPs totalled US$21.8 Bn YTD, with fixed income ETFs/ETPs receiving US$12.8 Bn net inflows, followed by Asia Pacific equity ETFs/ETPs with US$3.1 Bn net new assets, while alternative asset classes experienced US$1.2 Bn net outflows YTD.
Canada ETF and ETP Industry end April 2010:
* The Canadian ETF industry had 134 ETFs, assets of US$33.0 Bn, from four providers on one exchange.
Asia Pacific ex-Japan ETF and ETP Industry end April 2010:
* The Asia Pacific ex-Japan ETF industry had 168 ETFs with 267 listings, and assets of US$44.4 Bn from 53 providers on 13 exchanges.
Japan ETF and ETP Industry end April 2010:
* The Japanese ETF industry had 70 ETFs with 73 listings, and assets of US$26.3 Bn from six providers on two exchanges.
Latin America ETF and ETP Industry end April 2010:
* The Latin American ETF industry had 21 ETFs with 243 listings, and assets of US$9.1 Bn from three providers on three exchanges.
IMF Releases Background Material for its Assessment of the United States under the Financial Sector Assessment Program
May 14, 2010--Discussions for the International Monetary Fund’s assessment of the United States under the Financial Sector Assessment Program (FSAP) took place during October 14–November 3, 2009 and February 17–March 12, 2010. The Financial System Stability Assessment (FSSA) report, which is the main output of the FSAP process, will be discussed by the Executive Board of the IMF at the time of the annual Article IV discussion in the summer. The FSSA report will be published with the Article IV report at that time.
At the request of the U.S. authorities, all seven Detailed Assessment of Observance Reports and four Technical Notes that were prepared during the first part of the FSAP exercise in October/November 2009 are being released today. Remaining Technical Notes are under preparation, and will all be published at the time of the release of the FSSA report.
BlackRock-ETF Landscape: Industry Review Q1 2010
May 12, 2010--We have just published the Q1 2010 edition of our monthly ETF Landscape Industry Review. This report is a review of the Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) industry through the end of Q1 2010.
At the end of Q1 2010 the global ETF industry had 2,131 ETFs with 4,133 listings, assets of US$1,081.9 Bn from 123 providers on 42 exchanges around the world.
We celebrate the 10th anniversary of ETFs in Europe as the first ETFs to launch in Europe were the iShares DJ STOXX 50 (EUN1 GY) and iShares DJ Euro STOXX 50 (EUN2 GY) on 11 April 2000 on the Deutsche Boerse, followed by the iShares FTSE 100 (ISF LN) on the London Stock Exchange extraMARK segment on 28 April 2000. The first two ETFs were originally branded as ‘LDRS’, sponsored by Merrill Lynch International and later acquired by iShares in September 2003.
We also celebrate the 20th anniversary since the launch of the very first ETF globally. Twenty years ago on 9 March 1990 the first ETF was listed in Canada on the Toronto Stock Exchange (TSX): the TIPs (Toronto 35 Index Participation Fund) tracking the TSX 35 Index. It was followed by the HIPs (Hundred Index Participation Fund) tracking the TSX 100 Index on 26 September 1995. Ten years ago on 7 March 2000, the TIPs and HIPs ETFs were merged into the iUnits S&P/TSE Index Participation Fund (XIU CN): an ETF that was originally listed on 4 October 1999.
Gold ETFs' $2.3 bln inflow highest in 12 months-TrimTabs
May 12, 2010--Gold exchange-traded funds, including the popular SPDR Gold Shares, have seen more than $2.3 billion in net inflows in the six trading days ended Monday.
TrimTabs Investment Research said on Wednesday that the net inflows into gold ETFs are the highest in 12 months. Last Thursday during the near 1,000-point plunge in the Dow Jones industrial average, gold ETFs saw net inflows of $1.1 billion, TrimTabs said.
Spot gold surged to a record high on Wednesday as investors sought safety from the risk of Greece's debt crisis spreading to other countries. Spot gold touched a new high of $1,244.45, which marked a nearly 20 percent gain since February.
U.S. Secretary of the Treasury Tim Geithner and European Commissioner Michel Barnier
May 12, 2010--U.S. Treasury Secretary Timothy Geithner and European Commissioner Michel Barnier met today and reaffirmed their strong determination to cooperate closely in strengthening the global financial system and in putting in place the G-20 financial reform agenda.
They agreed that the United States and the European Union, as the world's two largest economies and financial systems, have a special responsibility to promote and implement stronger global financial standards, reduce the scope for regulatory arbitrage and work toward greater regulatory convergence.
They reviewed the progress in implementing the G-20 financial regulatory commitments made at the London and Pittsburgh Summits. In particular, they agreed on the importance of reducing systemic risk and the too-big-to-fail problem by raising prudential standards through implementing the G-20 Leaders commitments including: stronger capital and liquidity requirements; a leverage ratio; a global framework for comprehensive regulation of OTC derivatives markets; and stronger crisis management and resolution tools so as to allow regulators to manage the failure of a major firm without exposing taxpayers to losses. They also reaffirmed their support for the G-20 Leaders commitments on accounting convergence.
Secretary Geithner and Commissioner Barnier agreed that in translating internationally agreed principles and standards into their respective markets, both sides should focus pragmatically on achieving broadly equivalent outcomes in the context of their different historical and legal traditions. In reviewing a range of U.S. and EU priority issues, including the Alternative Investment Fund Management Directive, they reaffirmed their support for the principle of non-discrimination and the importance of maintaining a level playing field. Both sides agree that within their respective legal systems and in coordination with the Basel Committee on Banking Supervision, they will work towards a common implementation date in 2011 for the Basel trading book rules.
They agreed to stay in close and regular contact so that the United States and European Union can continue to work together to ensure robust implementation of all of the G-20 commitments, address specific issues that have arisen in the U.S./EU context, and further support and strengthen our ongoing financial market regulatory dialogue.
Federal Reserve releases agreements with foreign central banks to reestablish temporary dollar swap facilities
May 11, 2010--The Federal Reserve on Tuesday publicly released the text of three agreements with foreign central banks to reestablish temporary dollar swap facilities and announced that, starting Thursday, it would disclose information weekly on use of the swap lines by each of the counterparty central banks.
The aim of both of these steps is to enhance transparency of the actions taken by the Federal Reserve to improve liquidity in global money markets and minimize the risk that strains abroad could spread to U.S. markets by providing foreign central banks with the capacity to deliver U.S. dollar funding to institutions in their jurisdictions.
The Federal Reserve Board and Federal Reserve Bank of New York posted on their websites the contracts detailing the swap arrangements with the Bank of England, the European Central Bank, and the Swiss National Bank. Agreements with the other foreign central banks--the Bank of Canada and the Bank of Japan--will be posted after they are finalized.
Starting Thursday, and weekly thereafter, swap activity by individual foreign central bank for the latest week, along with the total amount of swaps outstanding by individual central bank for the current and previous week, will be provided on the Federal Reserve Bank of New York's website. As was the case previously, swap activity will be reported on an aggregate basis each week in the Federal Reserve's H.4.1 statistical release and will be listed by individual central bank in the Federal Reserve System's Monthly Report on Credit and Liquidity Programs and the Balance Sheet.
Weekly swap activity for each foreign central bank, and the agreements, can be found at http://www.newyorkfed.org/markets/liquidity_swap.html.
Agreement with the Bank of England (1 MB PDF)
Agreement with the European Central Bank (1.1 MB PDF)
Agreement with the Swiss National Bank (1.2 MB PDF)
Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank announce the re-establishment of temporary U.S. dollar liquidity swap facilities
May 10, 2010--In response to the re-emergence of strains in U.S. dollar short-term funding markets in Europe, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing the re-establishment of temporary U.S. dollar liquidity swap facilities. These facilities are designed to help improve liquidity conditions in U.S. dollar funding markets and to prevent the spread of strains to other markets and financial centers. The Bank of Japan will be considering similar measures soon. Central banks will continue to work together closely as needed to address pressures in funding markets.
Federal Reserve Actions
The Federal Open Market Committee has authorized temporary reciprocal currency arrangements (swap lines) with the Bank of Canada, the Bank of England, the European Central Bank (ECB), and the Swiss National Bank. The arrangements with the Bank of England, the ECB, and the Swiss National Bank will provide these central banks with the capacity to conduct tenders of U.S. dollars in their local markets at fixed rates for full allotment, similar to arrangements that had been in place previously. The arrangement with the Bank of Canada would support drawings of up to $30 billion, as was the case previously.
These swap arrangements have been authorized through January 2011. Further details on these arrangements will be available shortly.
ETF Landscape-Celebrating 10 Years of ETFs in Europe
May 7, 2010--To mark the 10th anniversary of the first ETF in Europe we have just published a special report reviewing the history of ETFs in Europe as well as our outlook for the future.
Ten years ago in April 2000 the first ETFs to be launched in Europe were the iShares DJ STOXX 50 (EUN1 GY) and iShares DJ Euro STOXX 50 (EUN2 GY) listed on 11 April 2000 on the Deutsche Boerse, followed by the iShares FTSE 100 (ISF LN) on the London Stock Exchange extraMARK segment on 28 April 2000.
The first two ETFs were originally branded as 'LDRS', sponsored by Merrill Lynch International and later acquired by iShares in September 2003.
Dow Jones Monthly Index Reports-April 2010
May 7, 2010--Index Data Monthly Reports that are now available from Dow Jones:
Asia Pacific Edition is now available
Index Data Monthly Report: MENA Edition
Index Data Monthly Report: Dow Jones Islamic Market Indexes
Index Data Monthly Report: Europe Edition
Index Data Monthly Report: Dow Jones-UBS Commodity Indexes
Index Data Monthly Report: Latin America Edition
Index Data Monthly Report: U.S. Edition
Index Data Monthly Report: Dow Jones Brookfield Infrastructure Indexes
