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Markets on edge as investors seek exit
June 16, 2013--Mom and pop investors who flocked to the great bull run in bonds are now facing a messy exit thanks to striking changes in one of Wall Street's biggest markets.
The rise of exchange traded funds has given retail investors instant access to a range of debt including high-yield, inflation-indexed and investment grade bonds.
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Source: FT.com
Fund lobby groups attacked by investors
June 16, 2013--Concerns are mounting that the fund industry is damaging the interests of end investors by aggressively lobbying against new regulation.
A number of regulatory initiatives designed to protect investors have been watered down or blocked in recent weeks, and investor groups believe the increasingly co-ordinated fund lobby is to blame.
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Source: FT.com
Treasury International Capital Data for April
June 14, 2013--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for April 2013. The next release, which will report on data for May 2013, is scheduled for July 16, 2013.
The sum total in April of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $12.7 billion. Of this, net foreign private inflows were $42.1 billion, and net foreign official inflows were negative $29.4 billion.
Foreign residents decreased their holdings of long-term U.S. securities in April – net sales were $24.8 billion. Net sales by private foreign investors were $17.8 billion, and net sales by foreign official institutions were $6.9 billion.
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Source: US Department of the Treasury
IntercontinentalExchange Sets Daily Record for Combined Agriculture and Financial Product Set; New Daily Record for ICE Russell 1000 Growth Index
June 14, 2013-IntercontinentalExchange, a leading operator of global markets and clearing houses, today reported a record daily volume in agriculture and financial contracts traded on ICE Futures U.S. of 889,193 contracts on June 13.
The previous daily volume record was 851,852 on June 12, 2012.
ICE also reported a record daily volume in the ICE Russell 1000 Growth Index futures contract with 11,595 contracts traded on June 13. The previous daily volume record was 11,064 contracts on March 12, 2013.
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Source: IntercontinentalExchange
JPMorgan's private equity unit to become independent
June 14, 2013--JPMorgan Chase & Co said on Friday its private equity unit, One Equity Partners, will become independent, as the largest U.S. bank increases its focus on client businesses.
One Equity Partners, which manages $4.5 billion of investments, will raise its next investment fund externally rather than from JPMorgan, becoming similar to stand-alone private equity firms that pool funds from a variety of investors.
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Source: Reuters
Concluding Statement of the 2013 Article IV Mission to The United States of America
June 14, 2013--1. The U.S. recovery has remained tepid over the past year, but underlying fundamentals have been gradually improving. The modest growth rate of 2.2 percent in 2012 reflected legacy effects from the financial crisis, fiscal deficit reduction, a weak external environment, and temporary effects of extreme weather-related events.
These headwinds notwithstanding, the nature of the recovery appears to be changing. In particular, house prices and construction activity have rebounded, household balance sheets have strengthened, labor market conditions have improved, and corporate profitability and balance sheets remain strong, especially for large firms. With the sizeable output gap and well-anchored inflation expectations keeping inflation subdued, the Fed appropriately continued to add monetary policy accommodation over the past year by increasing its asset purchases and linking the path of short-term rates to quantitative measures of economic performance, thus helping to maintain long-term rates at exceptionally low levels. Overall financial conditions have eased, as risk spreads narrowed, stock market valuations surpassed their pre-crisis peak, and bank credit conditions gradually eased.
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Source: IMF
Stifel-ETF Update May 2013
June 14, 2013--Update Overview
Total Exchange Traded Products: 1,466
Total Assets: $1.5 trillion
Number of ETF Industry Providers: 48
Monthly Asset Increase: $19.63 billion (1.3%)
ETF Industry Detail
Asset Classes-Overall The S&P 500® Index returned 2.3%, while the MSCI EAFE® Index fell 2.4%. Commodities were negative, with the S&P GSCI® Index down 1.5% and Gold decreasing 5.1%. U.S. Bonds were negative, with the Barclays U.S. Treasury Index decreasing 6.8% and the Barclays U.S. Aggregate Index decreasing 1.8%.
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Source: Stifel
CFTC.gov Commitments of Traders Reports Update
June 14, 2013--The updated current reports for the week of June 11, 2013 are now available.
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Source: CFTC.gov
WisdomTree Lists 12 Additional ETFs on Bolsa Mexicana de Valores
Company Further Expands Global Footprint in Latin America
June 13, 2013--WisdomTree Investments, Inc. (Nasdaq:WETF), an exchange-traded fund ("ETF") sponsor and asset manager, today announced that an additional 12 WisdomTree ETFs have been listed on The Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV), S.A.B. de C.V.
All 12 equity ETFs are listed in the special international section of the BMV, the Sistema Internacional de Cotizaciones ("SIC"). SIC makes it possible for certain institutional investors to trade foreign securities in Mexico. Securities listed on the SIC are not publicly offered in Mexico.
"We are pleased to cross-list an additional 12 ETFs on the Bolsa Mexicana de Valores and further expand WisdomTree's exposure in Mexico and our relationship with Compass Group Holdings S.A.," said Jonathan Steinberg, WisdomTree CEO and President.
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Source: Wisdom Tree
SSgA-US ETF Snapshot: May 2013
June 13, 2013--SNAPSHOT OVERVIEW
1,259 Exchange Traded Funds (ETFs)-with assets totaling $1.5TN-were managed by 38 ETF managers as of May 31,, 2013.
Month over month, ETF assets increased $4.3BN, up 0.3%.
In May, assets increased 0.3%, driven by an $11.7BN gain in the Size-Large Cap category.
Positioning Your Portfolio for Medium-Term Inflation
Investors appear to have higher medium-term inflation expectations relative to short-term inflation expectations. Intermediate-term TIPS, such as the new SPDR Barclays 1-10 Year TIPS ETF [TIPX], offer precise exposure to hedge against a rise in medium-term inflation expectations. For information on the new SPDR Barclays 1-10 Year TIPS ETF, [TIPX],
ETF Industry Detail
Asset Classes — Overall
The S&P 500(R) returned 2.3%, while the MSCI EAFE(R) dropped 2.4%. Commodities were negative, with the S&P GSCI(R) down 1.5% and Gold dropping 5.1%. US Bonds were negative with the Barclays US Treasury Index and the Barclays US Aggregate Index falling 1.7% and 1.8%, respectively.
FLOWS
ETF flows topped $17BN in May. The Size- Large Cap category had a leading $5.4BN of inflows. The Commodity category had the most significant outflows during May, with $4.0BN leaving the category, increasing its year-to-date total net outflows to $18.9BN.
Manager and Fund Detail
The top three managers in the US ETF marketplace were: BlackRock, State Street and Vanguard. Collectively, they account for approximately 83% of the US listed ETF market.
The top three ETFs in terms of dollar volume traded for the month were the SPDR S&P 500 [SPY], iShares Russell 2000 [IWM] and PowerShares QQQ [QQQ].
The top three ETFs in terms of assets for the month were the SPDR S&P 500 [SPY], Vanguard Emerging Markets [VWO] and SPDR Gold Shares [GLD].
Market Performance
Performance by Asset Class
International Developed decreased 2.4% while Emerging Markets dropped 2.6%. Domestic Large Cap, Mid Cap and Small Cap markets returned 2.3%, 2.3% and 4.4%, respectively. The US Aggregate, the US Treasury and the US Corporate Bond markets were all negative, losing 1.8%, 1.7% and 2.4%, respectively. Commodities were down 1.5%.
visit www.spdrs.com for complete report
Source: SSgA
