Americas ETP News
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CME in $16bn bid for Chicago exchange rival Cboe
August 18, 2021-All-share deal would combine futures and equity options specialists
CME Group, the world's largest futures exchange operator, is in talks to acquire fellow Chicago exchange company Cboe Global Markets in a deal worth nearly $16bn.
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Source: ft.com
Federal Reserve issues FOMC statement-Minutes of the Federal Open Market Committee, July 27-28, 2021
August 18, 2021--The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen.
The sectors most adversely affected by the pandemic have shown improvement but have not fully recovered. Inflation has risen, largely reflecting transitory factors.
Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.
The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run.
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Source: federalreserve.gov
CME and Cboe Stock Respond to Media Report of Deal Talks
August 18, 2021--Exchange operator CME denies report that it made acquisition offer; Cboe shares jump 12% but finish the day lower.
Shares of exchange operators CME Group Inc. and Cboe Global Markets Inc. swung Wednesday following a media report that the two Chicago-based companies were discussing a merger.
CME immediately denied the report.
The Financial Times reported that CME had approached Cboe with a $16 billion acquisition offer.
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Source: wsj.com
Defensive ETF flows hint at 'bullish but worried' sentiment on Wall St
August 17, 2021--Billions of dollars have been pouring into "defensive" exchange-traded funds in recent weeks, underscoring the nervousness that has arisen in some corners of Wall Street after US stocks hit a series of record highs.
The resurgence of coronavirus infections in some U.S. states, evidence of mounting inflationary pressures, and fears that the Federal Reserve will soon start scaling back its massive asset purchase program have already prompted some investors to take a more cautious stance.
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Source: ft.com
BlackRock calls for investors to lift allocations to China's markets
August 17, 2021-- BlackRock's research unit has said China should no longer be considered an emerging market and recommended investors boost their exposure to the country by as much as three times.
The New York-based investment house's internal think-tank suggested the higher allocations to Chinese stocks and debt as the country's capital markets have boomed in size and sophistication.
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Source: ft.com
CI Global Asset Management Licenses Solactive Indices to Release Four Core ETFs
August 17, 2021--ETFs are increasingly becoming the incumbent in the global passive investment industry. In June 2021, global assets under management in index-tracking ETFs hit their new record of USD 8.66tn, which is merely USD 132bn short of assets in passive mutual funds.
Building on the success of ETFs, CI Global Asset Management, a subsidiary of Toronto-based CI Financial Corp. (TSX: CIX, NYSE: CIXX), has licensed four Solactive indices to provide its clients three plain vanilla benchmark ETFs, including a broad Canada ETF, and two ETFs tracking the largest 500 and 1000 US companies, respectively. Furthermore, to allow investors to participate in the performance of global healthcare companies, CI Global Asset Management released an ETF tracking the leaders in global healthcare innovation.
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Source: Solactive AG
VanEck Announces New Branding for Its Exchange Traded Fund Family
August 17, 2021--VanEck today announced new branding for its U.S.-listed Exchange Traded Funds (ETFs). On or about September 1, 2021, the word "Vectors" is being retired from use in both the branding for the VanEck ETF Trust and the vast majority of VanEck ETFs.
"Since we launched our first ETFs in 2006, then under the Market Vectors brand, our focus has always been on delivering the most impactful strategies for investors" said Jan van Eck, CEO of VanEck. "Bringing our strategies under a single VanEck brand reflects how each one is a culmination of the collective experience and perspectives of our global team.
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Source: VanEck
The age of the ETF is looming
August 16, 2021--Exchange traded funds are much more than just passive index-trackers.
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Source: ft.com
Vanguard calls for fund fee transparency
August 15, 2021--Investment funds should publish easy-to-compare fee figures in the same way food labels carry nutritional values to make clear to the public when costs are 'hazardous', according to Vanguard.
Sean Hagerty...
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Source: ft.com
U.S. Economy Likely to Outgrow China's Due to Contrast in Pandemic Responses
August 15, 2021--A faster short-term U.S. expansion would delay the day when China's economy overtakes America's in size
The U.S. and China are trading places in the economic growth race.
U.S. gross domestic product rose 12.2% in the second quarter of this year from a year earlier, outpacing China's 7.9% gain.
The American edge should continue for at least the next few quarters, many economists say. That would be the first sustained period since at least 1990 in which the U.S. economy grew faster than China's.
In the short term, the reversal reflects the difference in the two nations' responses to the Covid-19 pandemic.
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Source: wsj.com
