Americas ETP News
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CBO-Monthly Budget Review for June 2017
July 10, 2017--The federal budget deficit was $520 billion for the first nine months of fiscal year 2017, the Congressional Budget Office estimates-$120 billion more than the shortfall recorded during the same span last year.
Receipts and outlays alike were higher than they were last year, but outlays rose much more.
In its most recent budget projections, CBO estimated that the deficit for fiscal year 2017 (which will end on September 30, 2017) would total $693 billion, about $109 billion more than the shortfall in fiscal year 2016.
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Source: Congressional Budget Office (CBO)
NYSE Revamp Steps Up Threat to Speed-Fighting IEX Exchange
July 10, 2017--IEX Group Inc., which has struggled to gain market share with its U.S. stock market, is facing another challenge as the New York Stock Exchange opens a copycat market
NYSE American starts July 24 with a 350-microsecond speed bump, mimicking the delay IEX says it uses on its Investors Exchange to protect investors from predatory kinds of speed-based trading. On Monday, NYSE announced it'll be 78 percent cheaper to place some kinds of trades on its market versus IEX's.
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Source: Bloomberg
AdvisorShares Weekly Market Review-Do Investors Want More Correlation?
July 10, 2017--AdvisorShares Weekly Market Review-Week Ending 7/7/2017
Macro
Domestic equities started the second half on a positive note even if not an enthusiastic note as the Dow Jones Industrial Average added 0.28%, the S&P 500 tacked on six basis points, the NASDAQ moved ahead 0.18% and the Russell 2000 gained 0.07%.
As Q2 earnings season starts to ramp up, Barron's in citing Thomson Reuters IBES is looking for 8% growth and Eddy Elfenbein from Crossing Wall Street reported estimates of $31.00 for the S&P 500, which would be the fourth quarter in a row of growth.
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Source: AdvisorShares
Canadian ETF Association elects Kevin Gopaul as board chair
July 10, 2017--The Canadian ETF Association (CETFA) has appointed Kevin Gopaul, head of BMO Global Asset Management Canada, head of quantitative strategies and ETFs, and chief investment officer (Canada), as chair of CETFA's board of directors.
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Source: advisor.ca
Schwab ETF OneSourceTM Expands Offering of Commission-Free ETFs
July 10, 2017-Charles Schwab announced today that Schwab ETF OneSourceTM, the program that offers the most commission-free1 Exchange Traded Funds (ETFs) anywhere in the industry, has added 15 ETFs to its roster.
With these additions,the program allows investors and advisors to buy and sell 245 ETFs covering 69 Morningstar Categories with $0 online commissions, no enrollment requirements and no early redemption fees -key differentiators for investors comparing Schwab ETF OneSource to other commission-free ETF offerings.
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Source: Schwab ETF OneSource
Deutsche Asset Management Continues to Add ETFs to Schwab ETF OneSourceTM
July 10, 2017--HYLB, DEMG and JPN are now available to Charles Schwab clients
Deutsche Asset Management (Deutsche AM) today announced that it will offer its award-winning fixed income exchange-traded fund (ETF)-Deutsche X-trackers USD High Yield Corporate Bond ETF-along with two additional international funds on Schwab ETF OneSourceTM
Charles Schwab & Co.'s program that provides investors and advisors with access to commission-free ETFs.1
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Source: Deutsche Asset Management
CICC to acquire majority stake in KraneShares
July 10, 2017--China International Capital Corporation Limited (CICC), one of China's leading investment banking and financial services firms, announced today the signing of a definitive agreement to acquire a majority stake in Krane Funds Advisors, LLC, ("KraneShares") a U.S. asset management firm best known for its China focused KraneShares exchange traded funds (ETFs) and innovative China investment strategies.
The strategic acquisition combines CICC's extensive global research, investment and wealth management platforms with KraneShares' ETF expertise.
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Source: Krane Funds Advisors, LLC
Bats Welcomes 43rd iShares ETF to Bats ETF Marketplace
July 7, 2017-Bats, a CBOE Holdings, Inc. company, and a leading market for exchange-traded products (ETP) trading globally, today welcomes a new iShares ETF to the Bats ETF Marketplace.
The iShares Russell 2500 ETF (Bats: SMMD) seeks to track the investment results of an index composed of mid- and small-capitalization U.S. equities.
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Source: Bats Global Markets
ULTUMUS-Global ETF Monitor-Evangelical Christian ETFs, Principal Spectrum and Legg Mason
July 7, 2017--Americas
Evangelical Christian ETFs are few in number, but Inspire has just added one more. The newly launched Inspire Corporate Bond Impact ETF (IBD) will invest in the bonds of S&P 500 companies -but only those deemed worthy.
Principal Spectrum has listed a new active ETF in the US, called the Preferred Securities Active ETF (PREF).
Legg Mason has launched a new factor ETF that will track small cap American companies with low valuations but high debt coverage and profits.
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Source: ULTUMUS-Financial Data Management
Former Bain Manager Launches $50 Million Bitcoin and Ethereum Fund
July 6, 2017--Some of the wealthiest families in Latin America now have access to a new way to invest, thanks in part to a former senior manager at consulting firm Bain & Company.
Announced today, the newly formed Crypto Assets Fund, co-founded by former senior manager at Bain, Roberto Ponce Romay, is helping to raise $50m with the purpose of buying cryptocurrencies for family offices. Revealed exclusively to CoinDesk, Crypto Assets Fund (CAF) will invest directly in bitcoin, ether, zcash, ripple, litecoin and dash.
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Source: coindesk.com
