Global Experts Poll: Economic Confidence Improves in First Quarter, Fears Subside
Economic confidence index ticks up to 0.43 from 0.38 last quarter, closer to optimistic territory of over 0.5
Percentage fearing a major economic disruption for year ahead falls to 48% from 53% last quarter
Seventh quarterly Global Confidence Index polled 390 experts from business, government, international organizations and academia who are members of the Forum’s Network of Global Agenda Councils
January 21, 2013--Confidence in the state of the world economy recovered somewhat in the first quarter of 2013, according to a World Economic Forum poll of 390 experts.
The Economic Confidence Index rose to 0.43 from 0.38 on a scale from 0 to 1, getting closer to optimistic territory amid some positive signs from the Eurozone and a sense that the worst fears for the US “fiscal cliff” debt crisis had been allayed. Regionally, the improvement in confidence was most marked in North America.
“The first Economic Confidence Index result of 2013 gives us some cause for optimism, but the figure is still in negative territory overall. We still need dynamic leadership to drive the economy ahead and overcome challenges,” said Martina Gmür, Senior Director of the Forum’s Network of Global Agenda Councils.
view results-Global Confidence Index
Source: WEF
The BRICs and beyond: prospects, challenges and opportunities
January 18, 2013--This is the latest in a series of reports that seeks to update projections of potential growth in GDP in leading economies over the period to 2050.
The original PwC ‘World in 2050’ study in 2006 covered the 17 largest economies: the G7 (France, Germany, Italy, Japan, the UK, the US and Canada) plus Spain, Australia and South Korea; and the E7 (Brazil, Russia, India, China, Indonesia, Mexico and Turkey).
The extended 2013 study – titled World in 2050 The BRICs and Beyond: Prospects, challenges and opportunities - also includes Vietnam, Nigeria, South Africa, Malaysia, Poland, Saudi Arabia and Argentina.
view the PWC report-World in 2050 The BRICs and beyond: prospects, challenges and opportunities
Source: PwC
Geographic Exposure: Russell Developed Europe Large Cap Emerging Markets GeoExposure Index Outperformed Its Parent Russell Developed Europe Large Cap Index for YTD, 3 & 4 Years Ended January 16th
January 18, 2013--The Russell Developed Europe Large Cap Emerging Markets GeoExposure Index, designed to track the performance of companies within its parent index the Russell Developed Europe Large Cap Index with significant revenue exposure to emerging markets, outperformed its parent index by 0.9% year-to-date, 1.7% (annualized) for three years and 5.5% (annualized) for four years ended January 16th (index history inception is July 2008).
"The performance of the Russell Developed Europe Large Cap EM GeoExposure Index relative to the European and emerging markets indices illustrates the positioning of gaining exposure to emerging markets through the stocks of developed market companies. If emerging markets are performing comparatively well, the increased exposure to companies which derive a significant portion of their revenue from emerging markets may lead the GeoExposure index to outperform its parent index, in this case the Russell Developed Europe Large Cap Index. We would expect the opposite when emerging markets are in a down cycle, yet it should be mitigated by all the constituents being within developed markets," said Russell Indexes senior research director Tom Goodwin.
Source: Russell
ETF Securities Global Commodity ETP Quarterly-Q4 2012
January 18, 2013--The report includes:
A comprehensive and fully up-to-date reference guide to investing in global commodity ETPs and indexes-no ETP type or geographic area is excluded. The report details the large and growing choice of commodity ETP exposures and strategies around the world.
Summary analysis of global commodity ETP flows, trading volumes and AUM trends. Includes a detailed analysis of what has been driving trends in 2012 and the outlook for 2013.
Roll yield analysis (contango/backwardation) broken down by individual commodity and commodity sectors.
view the ETF Securities Global Commodity ETP Quarterly-Q4 2012
Source: ETF Securities
Energy Position Limits May Cause More Price Volatility, IEA Says
January 18, 2013--The implementation of stricter regulations on global swaps markets, such as position limits and higher margin requirements, may cause energy prices to become more volatile, the International Energy Agency said.
“The new rules are intended to bring transparency to the swaps markets and lower their risks,” the Paris-based energy adviser said in its monthly oil market report today. “Regulatory uncertainties and inconsistencies within and across jurisdictions might in fact lead to less transparent and more risky global financial markets.”
Source: Bloomberg
State Street 4th-qtr profit up 26 pct, beats estimates
January 18, 2013--State Street Corp said on Friday fourth-quarter profit beat Wall Street estimates, rising 26 percent on a big boost from investment management fees.
Net income was $468 million, or $1.00 a share, compared with $371 million, or 76 cents a share, in the year-ago period.
On an operating basis, State Street earned $521 million, or $1.11 a share.
Source: Reuters
SSgA's AUM climbs 13% in 2012; ETFs up 38%
January 18, 2013--State Street Global Advisors had $2.089 trillion in assets under management as of Dec. 31, up 1.2% from three months earlier
and 13.2% higher than the end of 2011, according to parent company State Street Corp. (STT)'s earnings statement Friday.
Source: Pensions & Investments
ETF Securities To Strengthen Its Retail Strategy With Senior Sales Hire
January 17, 2013--ETF Securities (UK) Limited, part of the ETF Securities group which is one of the world's leading independent providers of exchange-traded investment products and a pioneer in Exchange Traded Commodities (ETCs), has hired former Trader and Salesman, Frank Spiteri, as Head of Retail Distribution.
The hire has been made in response to a growing demand from retail investors for highly liquid, cost-effective and transparent investment solutions. He will report into Matt Johnson, Head of Distribution for Europe, Middle East and Africa (EMEA).
Source: Mondovisione
NASDAQ OMX to Combine Market Technology and Corporate Solutions Businesses
Industry Leading Provider of Business, Trading and Exchange Technology Solutions to Align Businesses to Improve Client Offering and Advance Technology Leadership Position
Company Appoints Bradley Peterson as Global Chief Information Officer
January 17, 2013--The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the company will combine its Market Technology and Corporate Solutions businesses. The combination will enable increased focus and drive growth across the company's technology businesses, create a dedicated software and technology management structure and advance NASDAQ OMX's market position by leveraging global distribution and scaling our products and services.
The new business unit will be led by Anna Ewing, executive vice president, Global Technology Solutions, NASDAQ OMX.
Global Technology Solutions includes Market Technology and Corporate Solutions. The Market Technology business provides technology and advisory services to over 70 marketplaces, clearing organizations and central securities depositories in over 50 countries as well as risk management and surveillance solutions to financial services firms. Corporate Solutions provides public and private companies with a portfolio of products and services that deliver critical market intelligence and communications solutions which help identify, target and communicate with stakeholders.
NASDAQ OMX intends to treat the combined Market Technology and Corporate Solutions businesses as a separate reporting segment effective January 1, 2013.
Source: NASDAQ OMX
Newly-launched Dynamic VSTOXX Indices licensed to Barclays
January 16, 2013--STOXX Limited, the market-moving provider of innovative, tradable and global index concepts, today announced that the newly launched Dynamic VSTOXX and Dynamic VSTOXX Net Of Costs indices have been licensed to the Investment Bank of Barclays.
The new indices provide an enhanced exposure to European volatility through the VSTOXX futures by applying a dynamic allocation strategy aimed at identifying the most rewarding – and yet at the same time less risk-prone– combination of short- and mid-term futures.
The Dynamic VSTOXX and Dynamic VSTOXX Net Of Costs indices follow an “index of indices” concept, meaning their value is calculated based on the value of the underlying indices, the EURO STOXX 50 Volatility Short-Term Futures (VSTOXX Short-Term Futures) and EURO STOXX 50 Mid-Term Futures (VSTOXX Mid-Term Futures) indices. The weights of the underlying indices are rebalanced dynamically in the Dynamic VSTOXX and Dynamic VSTOXX Net Of Costs indices. Both indices follow the exact same index concept, however, the Dynamic VSTOXX Net of Costs Index additionally accounts for average market costs which are typically associated with the replication of an index for a financial product. All costs are clearly identified in the index formulae, ensuring transparency for market participants.
“The newly launched Dynamic VSTOXX and Dynamic VSTOXX Net Of Costs indices offer market participants the possibility to diversify their portfolio by adding exposure to VSTOXX futures,” said Hartmut Graf, chief executive officer, STOXX Limited. “Through the dynamic weight allocation between the two underlying VSTOXX Short- and Mid-Term Futures indices, which ranges from short to long positions, the index adapts to high and low volatility regimes in the European market.”
Source: STOXX