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IMF Working paper-Stock Market Liquidity in Chile
November 16, 2016--Summary: Chile has a large but relatively illiquid stock market. Global factors such as global risk appetite and monetary policy in advanced economies are key cyclical determinants of liquidity in Chilean equities.
Evidence from a cross-section of emerging markets suggests strong protection of minority shareholders can help improve stock market liquitidity. Currently, illiquid in Chilean may have to pay 3½percent more as cost of equity. Corporate governance should be improved, namely through the adoption of a stewardship code.
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Source: IMF
J.P. Morgan Launches JPMorgan Diversified Return U.S. Small Cap Equity ETF: JPSE
November 16, 2016--Fund offers a risk weighted, multi-factor approach to U.S. small cap equity investing
J.P. Morgan Asset Management today announced the launch of JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE).
The ETF may serve as a complement or replacement to market-cap weighted approaches.
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Source: J.P. Morgan Funds
IMF-Brazil : Selected Issues
November 15, 2016--FINANCIAL AND BUSINESS CYCLES IN BRAZIL1
This paper assesses the importance of financial market developments for the business cycle in Brazil. The results underscore the importance of macro-financial linkages and highlight risks to the recovery going forward.
They also show that offsetting the negative effects of a slowdown in private credit with an expansion in public credit can be costly,
potentially leading to inefficiencies that are difficult to unwind.
A. Introduction
1. In the decade prior to the recent recession, Brazil enjoyed a period of rapid economic expansion and relatively easy financial conditions. With the exception of
a short and shallow recession in 2009, annual GDP growth averaged 4.5 percent in the period from 2004 to 2013; the unemployment rate halved, the
policy rate trended down, and lending rates fell by almost 10 percentage points. The perception of foreign investors was also favorable until 2014
making the price of foreign borrowing low.
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Source: IMF
Bitcoin Futures Might Be Coming Soon
November 15, 2016--CME Group launches indexes to track the virtual currency that could lead to the listing of futures contracts
Bitcoin has moved one step closer to mainstream credibility after the world's largest futures exchange operator launched a pair of indexes designed to track the virtual currency’s price.
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Source: Wall Street Journal
Global X Funds Announces Launch of MSCI SuperDividend(R) EAFE ETF
November 15, 2016--Global X Funds, the New York-based provider of exchange-traded funds (ETFs), today launched the Global X MSCI SuperDividend EAFE ETF (NASDAQ: EFAS), tracking the MSCI EAFE Top 50 Dividend Index.
Today's launch is the eleventh in Global X's suite of income-producing ETFs, and the seventh in its SuperDividend suite.
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Source: Global X
Fed's Fischer says 'flash' market events may happen more often
November 15, 2016--Bond market liquidity is adequate but deserves scrutiny, Fed's Fischer says
U.S. capital market liquidity is mostly adequate, Federal Reserve Vice Chair Stanley Fischer said Tuesday, but markets and regulations are changing and flash events could happen more frequently as a result.
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Source: marketwatch.com
George Soros takes stake in largest China-focused ETF
November 14, 2016--Billionaire investor has repeatedly warned of a looming financial crisis with debt-laden China at the centre of the storm.
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Source: Financial News
IEX hires ex-banking executive to take on NYSE, Nasdaq for listings
November 14, 2016--IEX Group, operator of the newest U.S. stock exchange, on Monday said it hired former Morgan Stanley executive Sara Furber to help it challenge Nasdaq Inc (NDAQ.O) and Intercontinental Exchange Inc's (ICE.N) New York Stock Exchange for corporate listings.
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Source: Reuters
SEC Chair White to time her exit from agency with Obama's
November 14, 2016--U.S. Securities and Exchange Commission Chair Mary Jo White plans to step down around the same time President Barack Obama exits the Oval Office, the agency said on Monday.
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Source: Reuters
SEC Chair Mary Jo White Announces Departure Plans
November 14, 2016--SEC Chair Mary Jo White, after nearly four years as the agency's head, today announced that she intends to leave at the end of the Obama Administration.
Under Chair White's leadership, the Commission strengthened protections for investors and the markets through transformative rulemakings that addressed major issues highlighted by the financial crisis. The Commission also instituted a new approach to enforcement that has resulted in greater accountability and record actions through, among other things, the use of admissions of wrongdoing and enhanced data analytics and technology.
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Source: SEC.gov
