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CBO-Monthly Budget Review for March 2019
April 5, 2019--The federal budget deficit was $693 billion for the first half of fiscal year 2019, the Congressional Budget Office estimates, $94 billion more than the deficit recorded during the same period last year.
Revenues were $9 billion (or 1 percent) higher and outlays were $103 billion (or 5 percent) higher than during the first half of 2018.
Total Receipts: Up Slightly in the First Half of Fiscal Year 2019
Receipts totaled $1,506 billion during the first half of fiscal year 2019, CBO estimates-$9 billion (or 1 percent) more than during the same period last year.
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Source: Congressional Budget Office (CBO)
CFTC Commitment of Traders report
April 5, 2019--The current reports for the week of April 5, 2019 are now available.
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Source: CFTC.gov
Fed preps draft white paper on cyber risk
April 5, 2019--US regulator seeks industry input for initiative on classifying and modelling threats.
The US Federal Reserve has launched a project to find a common way of classifying and modelling cyber risk, amid continued fears over banks' collective readiness to meet the existential threat it poses to the financial system.
The initiative, which was showcased by representatives from the Fed board at a workshop hosted by the Federal Reserve Bank of Richmond on March 28, seeks to synthesise ideas from risk managers, academics and policy-makers, before disseminating them to the broader market.
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Source: risk.net
2026 target-maturity bond ETF debuts from iShares
April 5, 2019--iShares has launched the iShares iBonds Dec 2026 Term Muni Bond ETF on the Cboe Global Markets. The ETF buys US municipal bonds with a target maturity of December 2026.
The iShares iBonds Dec 2026 Term Muni Bond ETF selects investments from a cap-weighted index of investment-grade municipal bonds that at the end of February had 12,331 issues.
ETF Ticker: IBMO
Expense Ratio: 0.18%
Source: SmartBrief
Lipper U.S. Weekly FundFlows Insight Report: Funds Take in Net New Money Driven by Demand for Taxable Bond Funds
April 4, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) experienced net inflows of $1.9 billion for the fund-flows trading week ended Wednesday, April 3. Taxable bond funds (+$3.7 billion) took in the most net new money, while money market funds (+$1.4 billion) and municipal debt funds (+$714 million) also contributed to the net positive flows. Equity funds (-$3.9 billion) were the lone asset group to experience net outflows.
Market Overview
The major equity indices all posted positive returns for the fund-flows trading week. The NASDAQ Composite Index (+3.30%) led the gains, while the S&P 500 Index and the Dow Jones Industrial Average posted solid increases of 2.42% and 2.31%, respectively. All of the indices recorded double-digit gains, paced by the NASDAQ (+16.49%) and followed by the S&P 500 (+13.07%) and the Dow (+11.15%). The markets took strength on optimism over the progress of trade talks between the U.S. and China, as well as better than expected manufacturing data from the same two countries.<>view more
Source: Refinitiv
Virtu and MarketAxess Partner on Fixed-Income ETF
April 4, 2019--Virtu Financial, Inc. and MarketAxess Holdings, Inc., two global leaders in electronic trading, today announced a partnership to provide institutions with enhanced trading tools and access to global exchange-traded funds (ETFs) and fixed income securities.
The effort, which includes the distribution of Virtu's streaming eNAV ETF fair value offering, is expected to launch in the third quarter.
The partnership will provide:
Global, multi-asset and multi-currency coverage to MarketAxess and Virtu RFQ-hub clients...read more
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Source: marketsmedia.com
Tradeweb Surges in Market Debut
April 4, 2019--Bond-trading company's shares jump from $27-a-share price set for IPO
Online bond-trading platform Tradeweb Markets Inc. surged in its market debut Thursday, as investors continued to show strong interest in new issues.
Tradeweb finished its first day of trading at $35.81, up 32.6% from its $27-a-share price set for its initial public offering.
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Source: Wall Street Journal
WisdomTree Launches India Ex-State-Owned Enterprises Fund (IXSE)
April 4, 2019--XSE Offers Access to Growth Potential of India without Government Ownership
April 4, 2019--Launch Emphasizes Firm's Conviction Behind Investing in Non-State-Owned Enterprises in Emerging Markets
WisdomTree (NASDAQ:WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, today announced the launch of the WisdomTree India ex-State-Owned Enterprises Fund(IXSE) on the NYSE Arca.
IXSE seeks to track the price and yield performance, before fees and expenses, of the WisdomTree India ex-State-Owned Enterprises Index and has an expense ratio of 0.58%.
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Source: WisdomTree Investments, Inc.
Pacer ETFs Adds $1 Billion to AUM in Just Four Months, Reaching $4 Billion
April 3, 2019--Innovative Strategies Continue to Drive Growth for the Three Year Old ETF Issuer
Pacer ETFs ("Pacer"), an ETF provider that offers passive rules--based strategies, announces the firm surpassed $4 billion in assets under management (AUM) as new products and flagship strategies gain investor attention.
"We are constantly striving to meet our investor"s rapidly changing needs by working to be one step ahead," says President of Pacer ETFs Distributors, Sean O’Hara. "Our products offer financial advisors and investors access to unique strategies that we feel are a testament to how we find areas of opportunity.
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Source: Pacer ETFs
Goldman's Trading Floor Is Going Open-Source-Kind of
April 3, 2019--The bank plans to let outside engineers tinker with some of the code that its traders use to price securities and analyze and manage risk
Getting Goldman Sachs Group Inc.'s view on how much a derivative should cost once required a trading account at the elite Wall Street firm. Soon anyone with a GitHub account will be able to do it.
Goldman later this month plans to release on GitHub, the popular developer-collaboration site, some of the code that its own traders and engineers use to price securities and analyze and manage risk.
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Source: wsj.com
