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CFTC.gov Commitments of Traders Reports Update
March 2, 2018--The current reports for the week of February 27, 2018 are now available.
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Source: CFTC.gov
ETFs Weren't to Blame for the Market Correction, Powell Says
February 27, 2018--To those looking to blame exchange-traded funds for the market correction earlier this month, Federal Reserve Chairman Jerome Powell says they're mostly innocent.
"We looked carefully to try to understand really what did happen and it seems the markets were generally orderly through almost all of that time," Powell said during testimony to Congress Tuesday.
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Source: Bloomberg
Fidelity posts record operating income despite active equity fund outflows
February 27, 2018--Fidelity made a record $5.3bn in operating income last year, a 54 per cent jump from 2016, as the buoyant financial markets and a turnround in the performance of its fund managers lifted the investment giant's results.
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Source: FT.com
Compound Breaks New Ground With ReTFTMs (Real Estate Thematic Funds)
February 27, 2018--Investment Vehicle Combines the Thematic Specificity of ETFs with Physical Real Estate Assets of REITs
Compound Asset Management, a New York City-based real estate asset management and technology company, announces the first ever ReTFTM: NY Residential.
"ReTF" stands for real estate thematic fund. ReTFs combine the thematic investment strategy of an ETF (exchange traded fund) with the tax and diversification benefits of a REIT (real estate investment trust).
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Source: Compound Asset Management
ProShares ETFs decrease leverage after market turmoil
February 27, 2018--The operator of two exchange traded funds blamed for exacerbating the recent stock market volatility is decreasing their leverage, in what is seen as an attempt to stop a similar situation from happening again.
The one ETF profited if volatility rose while the other made money if it fell. As the S&P 500...
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Source: FT.com
Cronos, a marijuana producer, starts trading on the Nasdaq
February 27, 2018--Canadian marijuana producer Cronos Group started trading on the Nasdaq on Tuesday, marking a big step for the cannabis industry.
Cronos is the first pot producer and seller to trade on Wall Street, though other companies with indirect relations to cannabis are trading.
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Source: CNN
BMO Financial Group Reports Net Income of $973 million for First Quarter of 2018
February 27, 2018--Financial Results Highlights:
First Quarter 2018 Compared with First Quarter 2017:
Net income of $973 million, down 35% reflecting a revaluation of the U.S. net deferred tax asset of $425 million related to U.S. tax reform and a net gain in the prior year
Adjusted net income1 of $1,422 million, down 7% reflecting the net gain in the prior year
EPS2 of $1.43, down 36%; adjusted EPS1,2 of $2.12, down 7%
For the first quarter ended January 31, 2018, BMO Financial Group (TSX:BMO) (NYSE:BMO) recorded net income of $973 million or $1.43 per share on a reported basis, and net income of $1,422 million or $2.12 per share on an adjusted basis.
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Source: BMO Financial Group
AdvisorShares Weekly Market Review- Markets Digest Massive Treasury Auction
February 26, 2018--Highlights of the Week Ending 2/23/2018
Macro
Last week, we asked if the bounce could continue and it was looking like the answer was no until Friday's big up day. For the week the Dow Jones gained 0.39%, the S&P 500 was up 0.56%, the NASDAQ jumped 1.36% thanks to some FANG strength and the Russell 2000 eked out 34 basis points.
The VIX danced around 20 for most of the week before cratering on Friday down into the 16's. As several people, including Eddy Elfenbein from Crossing Wall Street, have noted, the profound lack of volatility in 2017 was the abnormal event not what has happened so far this year. It won't end badly in terms of the market somehow doing something different but the lack of volatility leading to complacency in the form of performance chasing could lead to more individuals panic selling when the cycle ends.
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Source: AdvisorShares
SEC Commissioner Criticizes Idea of Curbing Shareholder Lawsuits
February 26. 2018--Regulator shouldn't give public companies a shortcut to impose mandatory arbitration, says Democrat Robert Jackson Jr.
Public companies hoping that regulators will show them a shortcut to stifling shareholder lawsuits should instead have to go through a long slog, a Democratic member of the Securities and Exchange Commission said Monday.
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Source: Wall Street Journal
Whitford Enters ETF Space, Help Investors Access Short-Term Moves
February 26, 2018--Whitford Asset Management is trying its hand in the exchange traded fund space, launching a new volatility-themed, smart beta strategy that incorporates its very own rules-based investment methodology.
Whitford Asset Management recently rolled out the Volshares Large Cap ETF (NYSEArca: VSL), which has a 0.65% expense ratio.
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Source: Nasdaq.com
