Global ETF News Older than One Year
Emerging economies group BRICS invites 6 new members, including Saudi Arabia and Iran
August 24, 2023--Expansion of the bloc, which also invited Argentina, Egypt, Ethiopia and the United Arab Emirates, was a key agenda item at this week's summit in South Africa.
The BRICS economic coalition of emerging markets on Thursday extended membership invitations to six nations, South African President and current BRICS chair Cyril Ramaphosa said.
The BRICS alliance- which is composed of Brazil, Russia, India, China and South Africa- is set to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to join, Ramaphosa said in a speech published on the X social media platform, previously known as Twitter.
Source: nbcnews.com
BIS-Financial stability risks from cryptoassets in emerging market economies
August 22, 2023--In emerging market economies (EMEs), cryptoasset adoption has been on a steady rise. For some users, cryptoassets provide an alternative to limited investment and savings instruments. For others they offer a seemingly safe haven against volatile domestic currencies.
For EME financial authorities, there are serious concerns about their ability to monitor cryptoasset markets and to assess the financial stability risks from cryptoassets. This report studies how vulnerabilities in the nature, structure, composition and function of cryptoasset markets translate into financial stability risks in traditional financial markets. This includes market, liquidity, credit and operational risks, bank disintermediation and capital flow risks.
Source: BIS (Bank for International Settlements)
Cryptoassets increase risk in developing economies, study says
August 22, 2023--Cryptoassets, peddled as the future of finance, have not only failed to deliver on their promise but are themselves adding to financial risks in developing economies, according to a paper from the Bank for International Settlements.
"Cryptoassets hold out the illusory appeal of being a simple and quick solution for financial challenges" especially in emerging markets, but "but have so far not reduced but rather amplified the financial risks in less developed economies," the BIS report showed.
Source: reuters
Global Sustainable Finance Market Trends Analysis Report 2023-2030: Breakdown by Asset Class, Offerings, Investment Style, Investor Type
August 21, 2023--The "Sustainable Finance Market Size, Share & Trends Analysis Report By Asset Class, By Offerings, By Investment Style, By Investor Type, By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global sustainable finance market size is expected to reach USD 2,589.90 billion by 2030, growing at a CAGR of 22.6%
The growth of impact investing has played a pivotal role in propelling the sustainable finance sector. Impact investors strive to create tangible, measurable benefits for both society and the environment while achieving financial gains.
Source: Research and Markets
Oil up on record demand forecast, 7th straight weekly gain
August 11, 2023--
Brent, WTI futures rise 0.5% week-over-week
IEA estimates oil demand could rise to new monthly record in Aug
Tighter inventories could push oil prices higher-IEA
US oil rig count held steady last week-Baker Hughes
Oil prices edged higher on Friday after the International Energy Agency forecast record global demand and tightening supplies, propelling prices to the seventh straight week of gains, the longest such streak since 2022.
Brent crude futures rose 41 cents, or 0.5%, to settle $86.81 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 37 cents, or 0.5%, to settle at $83.19. On a weekly basis, both benchmarks rose about 0.5%.
Source: reuters.com
UBS starts process of killing off Credit Suisse brand
August 11, 2023--Temporary signs have appeared at US HQ as first step to erasing name of collapsed Swiss bank
UBS has begun the process of killing off Credit Suisse's international brand, replacing signs at the collapsed bank's US headquarters and planning changes in other key offices, according to people familiar with internal discussions.
The Credit Suisse brand is being phased out globally, though it may be retained in Switzerland if UBS sells its former rival's domestic business.
The Credit Suisse logos outside the bank's New York head office on Madison Avenue and in its lobby have been replaced with signs saying: Credit Suisse AG, a UBS Group company.
Source: ft.com
India and AI Drive Demand for ETFs in July as Europe Falls Out of Favor
August 9, 2023--India and artificial intelligence (AI) fueled the demand for exchange-traded funds (ETFs) in July, with investors focusing on these two long-term engines of the global economy. India is predicted to become the world's fastest-growing large economy, surpassing China.
The country's favorable demographics and growing workforce and consumer base make it an attractive investment option. Indian equity ETFs received a net inflow of $1.5 billion, the second-highest monthly figure on record.
Source: fagenwasanni.com
IEA Oil Market Report -August 2023-World oil demand scaling record highs as supply plunges in July
August 8, 2023--World oil demand is scaling record highs, boosted by strong summer air travel, increased oil use in power generation and surging Chinese petrochemical activity. Global oil demand is set to expand by 2.2 mb/d to 102.2 mb/d in 2023, with China accounting for more than 70% of growth.
With the post-pandemic rebound running out of steam, and as lacklustre economic conditions, tighter efficiency standards and new electric vehicles weigh on use, growth is forecast to slow to 1 mb/d in 2024.
Global oil supply plunged by 910 kb/d to 100.9 mb/d in July. A sharp reduction in Saudi production in July saw output from the OPEC+ bloc fall 1.2 mb/d to 50.7 mb/d, while non-OPEC+ volumes rose 310 kb/d to 50.2 mb/d. Global oil output is projected to expand by 1.5 mb/d to a record 101.5 mb/d in 2023, with the US driving non-OPEC+ gains of 1.9 mb/d. Next year, non-OPEC+ supply is also set to dominate world supply growth, up 1.3 mb/d while OPEC+ could add just 160 kb/d.
Source: IEA (International Energy Agency)
Worldwide Digital Asset Based Exchange Traded Products AUM Grew 70% YTD
August 8, 2023--Fineqia International Inc. (the "Company" or "Fineqia"), a leading digital asset and fintech investment business, announces that its analysis of global Exchange Traded Products (ETPs) with digital assets as underlying collateral, revealed a 70% growth in total Assets Under Management (AUM) in the year-to-date (YTD) period amid renewed interest by investors.
The AUM at the end of July was $34 billion compared with $20 billion on Jan. 1 this year. This 70% YTD increase in AUM was a 47.2% premium to the 47.7% rise in the underlying value of digital assets. On a monthly basis, total crypto AUM in July decreased 3.9% to $34 billion from $35.1 billion. During the same time, the overall value of crypto assets fell 1.5%, to about $1.17 trillion from $1.20 trillion.
Source: Fineqia International Inc
IMF-Predicting Financial Crises: The Role of Asset Prices
August 4, 2023--Summary:
We explore the early warning properties of a composite indicator which summarizes signals from a range of asset price growth and asset price volatility indicators to capture mispricing of risk in asset markets. Using a quarterly panel of 108 advanced and emerging economies over 1995-2017, we show that the combination of rapid asset price growth and low asset price volatility is a good predictor of future financial crises.
Elevated levels of our indicator significantly increase the probability of entering a crisis within the next three years relative to normal times when the indicator is not elevated. The indicator outperforms credit-based early warning metrics, a result robust to prediction horizons, methodological choices, and income groups. Our results are consistent with the idea that measures based on asset prices can offer critical information about systemic risk levels to policymakers.
Source: imf.org