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AdvisorShares--Weekly Market Update-This Week in Active ETFs: Jobs Very Strong...Again!
August 8, 2016--Weekly Market Review-Highlights of the week of August 01-August 05
Macro
For the second month in a row the non-farm jobs report was surprisingly strong as 255,000 jobs were reported for July following up on the slightly, upwardly revised 292.000 in June.
The headline unemployment rate was steady at 4.9% but the broader U6 inched up to 9.7% due to an uptick in the labor force participation rate which reported at 62.8%. Also
impressive was the 0.3% wage growth. One of the criticisms of the recovery/expansion has been the extent to which many Americans are earning less than their potential and while this is a valid criticism, persistently stronger wage growth would help
to ameliorate this concern.
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Source: AdvisorShares
Wave of Reverse Splits Coming For VIX ETFs
August 8, 2016--Recently placid stock market volatility means that three of the market's most popular CBOE Volatility Index (VIX) exchange-traded products are scheduled for reverse share splits this week.
Prices for the $1.7 billion iPath S&P 500 VIX Short-Term Futures exchange-traded notes (VXX) and $52 million iPath S&P 500 VIX Mid-Term Futures ETN (VXZ) reflect see 1-for-4 share splits when the market opens on Tuesday, according the Barclays.
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Source: Barron's
New Rules and Fresh Headaches for Short-Term Borrowers
August 8, 2016--Move by SEC to make money-market funds safer is putting stress on a crucial funding source for cities, counties and foreign banks.
When Quincy, Mass., Mayor Thomas Koch looked into borrowing $38 million this summer as an advance on a planned bond issue, he was distressed to find the costs had jumped nearly 60% since January.
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Source: Wall Street Journal
Calvert Investments Launches Global Energy Research Index
August 8, 2016--Calvert Investments launched the Calvert Energy Research Index (CALNRG), which marks the seventh addition to the firm's growing suite of responsible indexes and its second research index.
The new index focuses on investing in companies that manage either energy use in a sustainable manner or that are actively engaged in facilitating the transition to a more sustainable economy through the reduction of greenhouse gas emissions and the expanded use of renewable energy sources.
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Source: Calvert Investments
A 401(k) From a Robot? Digital Advice Pushes Further Into Consumer Finance
August 7, 2016--Robo advisers such as Wealthfront and Betterment are moving into '529' plans and 401(k) accounts.
A funny thing happened on the way to the robo-adviser revolution.
Robo advisers-automated investment services that assess risk tolerance and manage a portfolio of exchange-traded funds at a low cost-are running into the realities of the highly competitive wealth-management market, including thin profit margins.
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Source: Wall Street Journal
UPDATE 1-Senior U.S. ETF executive at Deutsche Bank has left company-sources
August 5, 2016--Dodd Kittsley, who has served as head of exchange-traded product strategy at Deutsche Bank AG's U.S. asset management unit for the past two years, has left the company, according to two people with knowledge of the departure.
Deutsche's Asset and Wealth Management's Americas division hired Kittsley, a longtime industry veteran, away from BlackRock Inc in 2014 as part of a push to accelerate its growth in the fast-growing business of managing exchange-traded funds and other similar products.
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Source: Reuters
CBO-Monthly Budget Review for July 2016
August 5, 2016--The federal budget deficit was $514 billion for the first 10 months of fiscal year 2016, the Congressional Budget Office estimates-$49 billion more than the shortfall recorded during the same period last year.
Both revenues and outlays were higher than they were last year, but outlays rose much more. If not for shifts in the timing of certain payments (which otherwise would have fallen on a weekend), the deficit for the 10-month period would be $92 billion larger than last year's amount.
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Source: Congressional Budget Office (CBO)
CFTC.gov Commitments of Traders Reports Update
August 5, 2016--The current reports for the week of August 2, 2016 are now available.
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Source: CFTC.gov
Renaissance Capital's IPO Calendar-Week of 8/8/2016
August 5, 2016--The Renaissance Capital's IPO Calendar-Week of 8/8/2016 is now available.
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Source: Renaissance Capital
VIX Plunges to Lowest Level in Two Years
August 5, 2016--Stock market volatility was low already but the CBOE Volatility Index (VIX) on Friday fell to its lowest level in two years.
Friday's level is also extremely close to the lowliest readings over the past five five years.
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Source: Barron's
