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FTSE launches new FTSE Cyclical and Defensive Index Series
February 6, 2013--FTSE Group ("FTSE"), the award winning global index provider, today announces the launch of the FTSE Cyclical and Defensive Index Series.
The index series aims to offer contrasting degrees of sensitivity to the economic cycle in order to improve the transparency of market dynamics.
The FTSE Cyclical Index Series is designed to be sensitive to the economic cycle, whilst the FTSE Defensive Index is designed to be relatively insensitive, thereby providing a mechanism for investors to implement an informed economic view. The index series spans global, regional and single country indices.
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Source: FTSE
Van Eck files with the SEC
February 5, 2013--Van Eck has filled a post-effective amendment, registration statement with the SEC for the Treasury-Hedged High Yield Bond ETF (THHY).
view filing
Source: SEC.gov
Morgan Stanley-ETF Fund Flows-ETFs Exhibited Net Inflows of $59.4
February 5, 2013--There were 25 new ETFs listed in the US in the fourth quarter of 2012. In 2012, 155 ETFs were issued and four providers entered the ETF market. There were also 82 ETF liquidations in 2012. An
additional ETF was launched in January and as of 1/30/13, there were 37 issuers with 1,237 ETFs listed in the US.
Net inflows into US-listed ETFs were $59.4 billion during 4Q12.
This is well above the average quarterly rate of net cash inflows over the past three years of $36.3 billion. For 2012, net cash inflows were $192.8 billion, which is the biggest year on record. The prior high mark was 2008, when US-listed ETF net cash inflows were $174.6 billion.
The largest net cash inflows this past quarter went into US Large-Cap ETFs. These ETFs had net cash inflows of $17.3 billion this past quarter, bringing 2012 net inflows to $40.6 billion, the second most of any category. ETFs tracking emerging markets equity indices had the next highest net cash inflows this past quarter at $15.4 billion, bringing 2012 net inflows to $29.9 billion.
For 2012, ETFs tracking fixed income indices had the highest net cash inflows at $50.2 billion, including $8.9 billion in net inflows this past quarter.
US Small-& Micro-Cap ETFs had the largest net cash outflows in the fourth quarter of 2012. Net cash outflows from these ETFs were $1.5 billion, bringing net cash inflows for 2012 down to $1.5 billion. For 2012, only Currency ETFs and Leveraged/Inverse ETFs had net cash outflows ($2.6 billion and $0.7 billion, respectively).
US ETF industry assets of over $1.4 trillion are ~5% higher year to date. Despite the growth of the ETF market, it remains concentrated with three providers and 20 ETFs accounting for almost 80% and 47% of industry assets, respectively.
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Source: Morgan Stanley
CFTC.gov Commitments of Traders Reports Update
The current reports for the week of February 5, 2013 are now available.
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Source: CFTC.gov
The Budget and Economic Outlook: Fiscal Years 2013 to 2023
February 5, 2013--Economic growth will remain slow this year, CBO anticipates, as gradual improvement in many of the forces that drive the economy is offset by the effects of budgetary changes that are scheduled to occur under current law.
After this year, economic growth will speed up, CBO projects, causing the unemployment rate to decline and inflation and interest rates to eventually rise from their current low levels. Nevertheless, the unemployment rate is expected to remain above 7½ percent through next year; if that happens, 2014 will be the sixth consecutive year with unemployment exceeding 7½ percent of the labor force—the longest such period in the past 70 years.
view the CBO The Budget and Economic Outlook:
Fiscal Years 2013 to 2023
Source: CBO (Congressional Budget Office)
Effective Date of New Circuit Breakers Postponed Goldman Sachs Asset Management Chairman Jim O'Neill to Retire view more Vanguard, BlackRock pressured over firearms investments view more CME Group Volume Averaged 11.4 Million Contracts Per Day In January 2013, Up 18 Percent From December 2012
In January 2013, CME Group interest rate volume averaged 5.3 million contracts per day, up 2 percent from January 2012, and the second consecutive month with year-over-year growth. Treasury futures volume averaged 2.4 million contracts per day, up 23 percent compared with the same period a year ago. Treasury options volume averaged 532,000 contracts per day, up 72 percent from January 2012, and the second highest monthly volume ever. Weekly Treasury options traded a record 150,446 contracts on January 30, 2013, surpassing the previous record of 101,075 set on September 7, 2012. Eurodollar futures volume averaged 1.9 million contracts per day, down 7 percent from the same period a year ago, while Eurodollar options volume averaged 432,000 contracts per day, down 49 percent from January last year.
view more BofA Merrill Introduces Instinct Natural(TM), an Enhanced Global Platform Providing One Pipe for All Equity Order Flow view more
February 5, 2013--The Financial Industry Regulatory Authority has pushed back the implementation of new price bands and market-wide circuit breakers by two months.
The regulator of securities brokers said it filed rule changes with the Securities and Exchange Commission that will move the start of new price bands and market-wide circuit breakers to April 8, from February 4.
Source: Traders Magazine
February 5, 2013--Goldman Sachs Group Inc. (GS) economist Jim O'Neill, who bound Brazil to Russia, India and China to form the BRIC investing strategy, will retire this year.
O’Neill, 55, will step down from his current role as chairman of the asset-management division, which he has held since 2010, the New York-based firm said yesterday in a statement. He joined the company in 1995 as a partner, became head of global economics, commodities and strategy research in 2001 and was added to the European management committee in 2006.
Source: Bloomberg
February 5, 2013--Chicago mayor Rahm Emanuel has called on fund managers including Vanguard and BlackRock to divest from gun manufacturers opposing "commonsense gun reforms."
In letters sent last week to six fund industry chief executive officers, Mr Emanuel said the industry needs to exert its influence with companies blocking reforms including required background checks and an assault weapons ban.
Source: FT.com
Increased average Treasury options volume by 72 percent and Treasury futures volume by 23 percent-Increased average foreign exchange volume by 21 percent
February 4, 2013--CME Group, the world's leading and most diverse derivatives marketplace, today announced that January 2013 volume averaged 11.4 million contracts per day, down 2 percent from January 2012, but up 18 percent from December 2012.
Total volume for January 2013 was more than 240 million contracts, of which 87 percent was traded electronically.
Source: Market Watch
February 4, 2013--Bank of America Merrill Lynch today unveiled Instinct Natural(TM), an enhancement to its alternative trading system (ATS) Instinct X, aimed at increasing opportunities to execute block trades while minimizing market impact.
“We want to make it easier for our clients to find liquidity so we’ve built a central platform where natural flow can interact,” said Jason D. Crosby, global head of portfolio sales and head of Americas institutional execution services sales. “With Instinct Natural, clients can tap the vast, uncorrelated, natural order flow that comes through our firm. We expect this will quickly become the place to go for size and price improvement.”
Source: Bank of America
