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Semiannual Report on International Economic and Exchange Rate Policies
April 9, 2015--This Report covers developments in the second half of 2014, and where pertinent and available, data through end-March 2015. This Report reviews the macroeconomic and exchange rate policies of economies accounting for 65 percent of U.S. foreign trade and assesses global economic developments more broadly.
The Report draws attention to and expresses concern over the impact that an imbalanced mix of macroeconomic policies is having on global outcomes, including a suboptimal composition of global growth and the threat of widening external imbalances. The Report calls for policymakers, especially those in surplus economies, to use the full set of policy tools at their disposal (monetary, fiscal and structural) to support growth and realize the collective G-20 objective of strong, sustainable and balanced global growth.
view report Report to Congress on International Economic and Exchange Rate Policies
Source: US Department of the Treasury
First Bridge 'ETF 20/20' Trends: Q1 '15 Review
April 9, 2015--Highlights
br>Assets for ETFs listed in the US grew by 4.5% in Q1 2015, with ETF s providing global equity exposure gaining the most in net assets.
Both the VIX and BofAML high yield bond spread were up from a year ago ( 10% and 28% respectively), but are still below their 10 year historical median values.
Developed Ex US equity markets (EFA) and US small caps (IWM) were the best? performing of the ETFs representing the major asset classes in Q1 2015.
A review of 5 key US equity strategies showed that low volatility was the only one over the last 10 years to beat the S&P 500 and also have lower volatility.
The dispersion between different strategies has fallen significantly in the last 12 months.
Currency hedged ex US ETFs significantly outperformed their unhedged counterparts. As a result, HEDJ took in $10.16B in net new assets in Q1 2015.
China 'A' Shares solar and some currency hedged equity ETFs were the best performing ETF categories in Q1 2015. Brazil small caps and some commodity futures based ETPs were the weakest performers in the quarter
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Source: First Bridge Data
Deutsche Asset & Wealth Management Launches 2 Currency-Hedged Exchange Traded Funds on Deutsche X-trackers Platform
April 9, 2015--Deutsche Asset & Wealth Management (Deutsche AWM) today announced the launch of two new currency-hedged exchange traded funds (ETFs) on its Deutsche X-trackers platform, Deutsche X-trackers Dow Jones Hedged International Real Estate ETF (NYSE Arca: DBRE) and Deutsche X-trackers S&P Hedged Global Infrastructure ETF (NYSE Arca: DBIF).
The new ETFs are the first currency-hedged real estate and infrastructure ETFs that allow investors to access global markets.
DBRE aims to provide investors with exposure to the Dow Jones Global ex-US Select Real Estate Securities Total Return Net Index, which seeks to track the performance of publically traded real estate securities in countries outside the United States, while DBIF seeks to track the performance of equity securities of infrastructure issuers in developed and emerging markets through the S&P Global Infrastructure Index. Both ETFs aim to mitigate exposure to fluctuations between the value of the US dollar and the currencies of the countries included in the underlying indices.
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Source: Deutsche Asset & Wealth Management
AdvisorShares Weekly Market Update: MLB Opening Day But Is the Fed Now in a Rain Delay?
April 9, 2015--For the week of March 30- April 2
MLB Opening Day But Is The Fed Now In A Rain Delay?
Macro
Friday's holiday did not stop the jobs report from printing and it was a stinker. The economy created 126,000 new jobs compared to expectations of 245,000 jobs. The headline
unemployment rate held steady at 5.5% and the broader U6 number downticked to 10.9% likely due to a corresponding
downtick in labor force participation to 62.7%,
Average hourly earnings fared a little better than the previous month moving
up 0.3%.
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Source: AdvisorShares
Report: U.S.-Listed ETPs Tracking Nasdaq Indexes
April 9, 2015--The Nasdaq quarterly report encapsulating all U.S.-Listed Exchange-Traded Products (ETPs) that track Nasdaq Indexes is available..
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Source: Nasdaq
Nasdaq and KBW Announce Strategic Index Partnership
April 8, 2015--- Partnership expands access to indexes and ETFs with more than $770 million in licensed Assets Under Management (AUM)
Indexes to be re-branded "KBW Nasdaq" in June 2015
Nasdaq (Nasdaq:NDAQ) and Keefe Bruyette & Woods (KBW), a Stifel company (NYSE:SF), today announced a partnership involving KBW's industry-leading family of financial indexes.
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Source: Nasdaq
CBO-Monthly Budget Review for March 2015
April 8, 2015--The federal government ran a budget deficit of $430 billion for the first half of fiscal year 2015, CBO estimates-$17 billion more than the shortfall recorded in the same span last year.
The federal government ran a budget deficit of $430 billion for the first half of fiscal year 2015, CBO estimates-$17 billion more than the shortfall recorded in the same span last year. Both revenues and outlays were about 7 percent higher than the amounts recorded in the first six months of fiscal year 2014.
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Source: Congressional Budget Office (CBO)
CFTC.gov Swaps Report Update
April 8, 2015--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Minutes of the Federal Open Market Committee, March 17-18, 2015
April 8, 2015--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on March 17-18, 2015.
A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.
The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. The descriptions of economic and financial conditions contained in these minutes and in the Summary of Economic Projections are based solely on the information that was available to the Committee at the time of the meeting.
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Source: FRB
Exchange issue strikes Merrill Lynch, Vanguard ETF performance
Analysts say price discrepancies are a reminder for advisers to use best practices when trading the funds
April 8, 2015--Advisers and investors this month are seeing surprising and, in many cases, misleading first-quarter returns as a result of a trading-exchange glitch that affected some heavily used exchange-traded funds
As a result of the computer-server difficulties on March 31 at the New York Stock Exchange Arca, the typical amount of information about buyers and sellers around the time the market closed was not provided, according to traders.
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Source: Investment News
