Americas ETP News
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Established ETF Team Bands Together to Launch GraniteShares
May 22, 2017--Dynamic team aims to disrupt ETF landscape by launching commodity ETFs with lower cost asset class exposure and smarter product structure
GraniteShares, a new, disruptive ETF company that is fully funded, independent and poised to bring a suite of exciting ideas to market, officially launches today.
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Source: GraniteShares
Quadruple-Levered ETF? SEC Hits Pause on Its Approval of an Exotic Investment
May 16, 2017--Commissioners' review could reverse or uphold earlier decision by the SEC's staff to approve the risky, new products
The Securities and Exchange Commission will reconsider its initial approval of a risky, first-of-its-kind exchange-traded fund that promises four times the daily price moves of S&P 500 futures contracts, according to people familiar with the matter.
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Source: Wall Street Journal
US faces crisis as pension funding hole hits $3.85tn
May 15, 2017--Collective funding deficit for retirement schemes jumps by $434bn in one year.
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Source: FT.com
Treasury International Capital Data For March
May 15, 2017--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for March 2017. The next release, which will report on data for April 2017, is scheduled for June 15, 2017.
The sum total in March of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $0.7 billion. Of this, net foreign private inflows were $25.4 billion, and net foreign official outflows were $26.1 billion.
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Source: US Department of the Treasury
NYSE wins regulatory approval for 'speed bump' exchange
May 13, 2017--The operator of the New York Stock Exchange was given permission by regulators on Tuesday to implement a so-called speed bump on one of its exchanges, allowing it to go head-to-head with upstart rival the Investors' Exchange.
NYSE Group, which is owned by Intercontinental Exchange Inc (ICE), plans to add a delay of a fraction of a second for incoming and outgoing orders on its NYSE MKT exchange, which it is renaming NYSE American.
Will the fiduciary rule shrink the ever-expanding world of share classes? Research Affiliates-Why Factor Tilts Are Not Smart "Smart Beta" Implementation matters! Really smart smart beta strategies should be designed to optimally capture factor return premiums and be able to deliver them to investors after trading costs. view more DECPG Global Weekly-May 12, 2017 The CBOE market volatility index (VIX) ticked up after falling to its lowest level in more than two decade
South Africa's mining sector strengthened at the end of Q1 view more
CFTC.gov Commitments of Traders Reports Update There Are Now More Indexes Than Stocks view more
Source: Reuters
May 13, 2017--While T shares and clean shares are different, they could solve important pricing questions for the fund industry-and even obliterate many share classes.
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Source: investmentnews.com
May 12, 2017--Key Points
Not all features of smart beta strategies that add value for investors can be replicated with simple factor tilts.
Whereas factor-replicated portfolios can match the short-run returns of smart beta strategies, they have higher turnover, much larger trading costs, smaller capacity, more frequent and prolonged benchmark underperformance, larger drawdowns, higher residual risk, and lower long-run returns.
Source: Research Affiliates
May 12, 2017--TAKING STOCK
U.S. consumer prices rose moderately in April; retail sales improved; jobless claims fell
Euro Area industrial production fell in March
China consumer price inflation edged up in April, producer prices decelerated further
Source: World Bank
May 12, 2017--he current reports for the week of May 9, 2017 are now available.
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Source: CFTC.gov
May 12, 2017--This chart shows how on Earth that happened.
The number of market indexes now exceeds the number of U.S. stocks.
Traditional ones such as the S&P 500 are collections of securities weighted by market value, and index funds mimic them as a low-cost way to deliver the market's performance. Many new indexes are different: They include stocks based on custom criteria, such as having low volatility or high dividends.
Source: Bloomberg
