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VanEck Announces Changes to VanEck Vectors ETF Product Line
September 8, 2016-VanEck, one of the largest providers of exchange traded funds ("ETFs") in the U.S. and worldwide with more than $39 billion in assets under management as of July 31, 2016, announced today that it plans to close and liquidate two VanEck Vectors ETFs.
On September 7, 2016, the Board of Trustees of VanEck Vectors ETF Trust approved the liquidation and dissolution of the following funds (the "Funds"):
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Source: VanEck
Fidelity to Expand ETF Offerings With New Smart-Beta Lineup
September 8, 2016--Firm adding six factor-based funds based on its own indexes
Money managers embracing smart-beta strategies in growth push
Fidelity Investments, one of the largest U.S. mutual fund companies, is expanding its exchange-trade funds business by introducing its first so-called smart beta offerings.
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Source: Bloomberg
NYSE to implement new volatility procedures Monday
September 8, 2016--The New York Stock Exchange will implement changes Monday to its opening procedures as it seeks to speed up trading and make it more efficient even on volatile days.
The new procedures would eliminate "Rule 48," which allows market makers to delay opening a stock when markets are volatile.
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Source: Reuters
DOL fiduciary rule could cause half of potential IRA rollover assets to stay put: Report
September 8, 2016--More money expected to remain in employer-sponsored retirement plans instead of flowing into individual retirement accounts, Cerulli finds.
Advisory firms banking on attracting loads of new assets from baby boomers rolling over 401(k) plans into individual retirement accounts may need to come up with a new plan for boosting AUM.
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Source: investmentnews.com
Federal Reserve Board approves final policy statement detailing framework for setting Countercyclical Capital Buffer
September 8, 2016--The Federal Reserve Board on Thursday released a policy statement detailing the framework the Board will follow in setting the Countercyclical Capital Buffer (CCyB) for private-sector credit exposures located in the United States.
The CCyB is a macroprudential tool that can be used to increase the resilience of the financial system by raising capital requirements on internationally active banking organizations when the risk of above-normal losses is elevated.
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Source: federalreserve.gov
Federal Reserve-Agencies Issue Study on Banking Activities and Investments
September 8, 2016--The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today released a report to the Congress and the Financial Stability Oversight Council on the activities and investments that banking entities may engage in under applicable law.
Section 620 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) required the federal banking agencies to conduct the study and report to Congress on the types of activities and investments permissible for banking entities, the associated risks, and how banking entities mitigate those risks.
view the Report to the Congress and the Financial Stability Oversight Council-Pursuant to Section 620 of the Dodd-Frank Act
Source: federalreserve.gov
Federal Reserve asks Congress to limit Wall Street merchant banking
September 8, 2016--The Federal Reserve Board recommended that Congress pare back Wall Street's ability to own physical commodities and engage in other aspects of merchant banking because of possible risks to the financial system, according to a report issued on Thursday.
U.S. lawmakers should repeal permission granted in 1999 for Goldman Sachs Group Inc (GS.N) and Morgan Stanley (MS.N) to conduct activities like storing and transporting physical commodities that other banks cannot do, the Fed said jointly with two other regulators.
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Source: Reuters
Infographic-Visualizing the Size of the U.S. National Debt
September 8, 2016--When numbers get into the billions or trillions, they start to lose context.
The U.S. national debt is one of those numbers. It currently sits at $19.5 trillion, which is actually such a large number that it is truly difficult for the average person to comprehend.
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Source: visualcapitalist.com
Merk Insight: Failure of Inflation Targeting?!
September 8, 2016--It ain't working. Eight years after the outbreak of the financial crisis, central bank chiefs suggest they have saved the world, but have they?
We argue central banks have become part of the problem, not the solution. At its core, their indoctrinated focus on inflation may well do more harm than good, with potentially perilous implications for investors.
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Source: Merk Investments LLC
CBO-Uncertainties in the Economic Outlook
September 7, 2016--On August 23, CBO published An Update to the Budget and Economic Outlook: 2016 to 2026, describing the agency's projections for the federal budget and the U.S. economy over the next 10 years.
As is always the case, economic outcomes will undoubtedly differ from CBO's projections in some respects. Today, we discuss several uncertainties in the current economic outlook.
CBO's Assessment of the Economic Outlook
CBO expects that the economy's real output (that is, output adjusted to remove the effects of inflation) will expand modestly over the coming decade. According to CBO's estimates, over the next year and a half a pickup in the growth of output will heighten demand for labor, leading to solid employment gains and eliminating the quantity of underused resources, or "slack," in the economy.
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Source: Congressional Budget Office (CBO)
