IMF Working paper-Exchange-Rate Dark Matter -continued

March 2, 2012--Summary: Dark matter accounts for 83 percent of the matter in the universe and plays a central role in cosmology modeling. This paper argues that an analogous form of dark matter plays a similarly important role in international macroeconomics.
Exchange-rate dark matter is invisible, but its existence can be inferred from observations on real exchange rates and interest rates. I first show that dark matter is the dominant driver of short- and medium-term changes in real exchange rates for the G-7 countries; accounting for more than 90 percent of the variance at the five-year horizon. I then develop a model in which risk shocks account for dark matter's role as a driver of exchange-rate dynamics and other macro variables.

view IMF working paper-Exchange-Rate Dark Matter

Source: IMF

Global ETP News
iShares Silver Trust celebrates 10th anniversary
Ranked as world's largest silver-backed investment product
April 27, 2016--2016 marks the 10th anniversary of iShares Silver Trust.
read more
Market Vectors Index Solutions Announces Rebranding
Market Vectors Indices to be renamed MVIS Indices
April 25, 2016--Market Vectors Index Solutions today announced that the Market Vectors Indices will adopt a new name and be known as MVIS Indices and Market Vectors Index Solutions will adopt the name MV Index Solutions (MVIS).
read more
Infographic-What Happens in an Internet Minute in 2016?
April 25, 2016--Today, we enter into the digital realm to see what happens every minute on the internet. The statistics are mind-boggling and put in perspective how scalable platforms have taken over the world.
read more
Market Vectors ETFs to be renamed on 2 May 2016
April 21, 2016--Van Eck Global is uniting its businesses and investment offers under a single brand: "VanEck". In order to implement the rebranding for its Irish UCITS ETFs, the directors of Van Eck Global Investments Ltd. and Market Vectors UCITS ETF plc have approved the following changes with effect of 2 May 2016
read more
BRICS Single Capital Market Possible In 5 Years, Russian Central Bank Deputy Gov Says
April 20, 2016--The Creation of a single capital market of the BRICS grouping of emerging market nations-Brazil, Russia, India, China, and South Africa-is possible in the next five years, Sergei Shvetsov, First Deputy Chairman of Russia's central bank told Russia's TASS news agency during his visit to China.
read more
Infographic-This Market Cycle Diagram Explains the Best Time to Buy Stocks
April 19, 2016--Is it possible to time the market cycle to capture big gains?
read more
Infographic-This Market Cycle Diagram Explains the Best Time to Buy Stocks
April 19, 2016--Is it possible to time the market cycle to capture big gains?
Like many controversial topics in investing, there is no real professional consensus on market timing. Academics claim that it's not possible, while traders and chartists swear by the idea.
read more
HSBC's London Gold Vault: Is This Gold's Secret Hiding Place?
April 19, 2016--HSBC's main gold vault in London regularly comes under the media spotlight for a number of reasons. These reasons include: a) the HSBC London vault stores a very large amount of gold on behalf of gold-backed Exchange Traded Funds, primarily the well-known SPDR Gold Trust (GLD) b) along with the Bank of England..
read more
Carbon Pricing: Building on the Momentum of the Paris Agreement
April 15, 2016--STORY HIGHLIGHTS
There is growing global momentum to put a price on carbon pollution. About 40 national and 23 subnational governments have put in place carbon pricing mechanisms, covering 12 percent of global emissions.
read more
Revealed: the Digital Poverty Holding Back Global Growth and Development
April 15, 2016--The Global Information Technology Report 2015 finds a growing digital divide within and across countries, with the full economic and social benefits of the internet only available to a minority of the world's population
read more
Definitions and disclosure of non-performing exposures and forbearance proposed by the Basel Committee
April 14, 2016--The Basel Committee on Banking Supervision has today issued for consultation Prudential treatment of problem assets-definitions of non-performing exposures and forbearance.
read more
Bond investors turn passive aggressive as ETFs swell
April 14, 2016--Investors are becoming passive, aggressively. While substantial inflows into funds that merely track a stock market index is not new, the trend is becoming increasingly powerful in bond markets too.
read more
IMF Survey-Coping With a New Reality
April 13, 2016--Public debt ratios have worsened almost everywhere and public finances have become more vulnerable
Countries need to adapt, but "no one-size-fits-all"
Fiscal policy should be growth-friendly with a focus on measures that boost both short-and medium-term growth
read more
IMF Warns of Threats to Financial Stability
April 13, 2016--Risks have risen in advanced economies, remain high in emerging markets
Market turmoil reflected setbacks to growth, greater uncertainty, weaker confidence
More balanced, potent policy mix can expand global output by extra 2 percent
read more
Balancing Work and Care in Aging Societies
April 13, 2016--From Europe and Central Asia to East Asia and the Pacific, rapid aging-increased life expectancy and lower fertility rates-puts enormous pressures on societies.
read more
IMF World Economic Outlook (WEO): Too Slow for Too Long, April 2016
April 12, 2016--The baseline projection for global growth in 2016 is a modest 3.2 percent, broadly in line with last year, and a 0.2 percentage point downward revision relative to the January 2016 World Economic Outlook Update.
read more
BIS-Tenth progress report on adoption of Basel III standards published by the Basel Committee
April 11, 2016--The Basel Committee on Banking Supervision has today issued the Tenth progress report on adoption of the Basel regulatory framework.
read more
ETF Securities Weekly Flows Analysis-The Fed minutes boost gold
April 11, 2016--Gold ETPs registered strong inflows after the release of the Federal Reserve (Fed) minutes of the March meeting on Wednesday suggested the chances of a rate hike in the short term were extremely limited.
read more
Assets invested in ETFs/ETPs listed globally have broken through the 3 trillion US dollars milestone for the second time at the end of Q1 2016, according to ETFGI
April 11, 2016-Assets invested in ETFs/ETPs listed globally have broken through the US$ 3 trillion milestone for the second time at the end of Q1. At the end of May 2015 the assets in ETFs/ETPs listed globally first exceeded the US$ 3 trillion milestone.
read more
Active asset managers knocked by shift to passive strategies
April 11, 2016--The deteriorating ability of money managers to beat their indices has led to investors accelerating a shift towards passive strategies such as exchange traded funds, adding to the pressure on actively managed funds to justify their fees.
read more
AdvisorShares Weekly Market Update-This Week in Active ETFs: Heads (Of State) Are Gonna Roll?
April 11, 2016--Macro
Last Monday we mentioned the so called Panama Papers in passing with a stay tuned point of view and sure enough the story has and continues to unfold. The biggest news for now appears to be the resignation of Iceland's Prime Minister Sigmundur David Gunnlaugsson after it was discovered/alleged that he may have had some shady dealings. For his part however, Gunnlaugsson claimed he was just stepping aside for now, and not because of the Panama Papers.
read more
WisdomTree grapples with $5bn outflows
April 10, 2016--The world's most shorted asset manager is struggling to stem outflows from its exchange-traded funds.
read more
DECPG Global Weekly-April 8, 2016
U.S. services sector picked up steam in March; weekly jobless claims fell more than expected
Euro Area services sector expanded in March at weakest pace since January 2015
read more
Infographic-IMF Growth Forecasts: Missing the Mark So Far
April 8, 2016--Projections on the global economic recovery have been overestimated by most policymakers and institutions for some time now. The International Monetary Fund (IMF) has been no exception to this fallacy.
read more
BlueStar Israel Equity Update: Relief Rally? Or Something More?
April 7, 2016--Israeli Global Equities, as measured by BIGI(R), rallied strongly in March, rising by 4.99%, significantly outperforming other Israeli equity benchmarks.
read more
WGC-Market Update: Gold outshines the market in Q1 2016
April 7, 2016--A glittering start to 2016
The gold price staged a spectacular rally in the first quarter of this year, rising by 17% in US dollar terms. This was its best performance in almost three decades, significantly outperforming other major stock, bond and commodity indices.
read more
Europe and Central Asia: Growth Struggles in the West, Volatility Increases in the East
April 7, 2016-- The economies of Europe and Central Asia (ECA) continue to face difficult headwinds in an increasingly complex and uncertain global economic environment, with short-term prospects differing substantially across countries, according to a new World Bank report.
read more
Institutional Investors Increasingly Embrace Factor Investing
Desire for Improved Returns, Enhanced Risk Management and Transparent Portfolio Construction Driving Demand April 6, 2016--Institutional investors are increasingly employing factor-based strategies across their investment process, a new study conducted by The Economist Intelligence Unit and sponsored by BlackRock has revealed.
read more
IMF-Emerging Markets Show More Resilience to Capital Flow Cycle
April 6, 2016--Net capital flows to emerging market economies slowed significantly since 2010
Slowdown associated with decline in growth prospects, but without resulting in high incidence of debt crises as in past
Greater exchange rate flexibility, foreign reserves, and lower public debt can help
read more
Structural Reforms in Advanced Economies: Pressing Ahead and Doing them Right
April 6, 2016--Product and labor market reforms raise output and employment in the medium term
Complementary macroeconomic policies required to maximize short-term benefits
Need for careful prioritization and sequencing of reforms
read more
Bond ETFs Attracted Record U.S., Global Inflows in First Quarter
April 6, 2016--BlackRock says the funds pulled in $43.7 billion worldwide
Money shifted toward riskier assets as the quarter progressed
read more
London Remains on Top and Singapore Climbs to Third Place.
April 6, 2016--Today Z/Yen publishes the nineteenth Global Financial Centres Index (GFCI 19) The Index rates 86 financial centres.
London remains just ahead of New York to retain the number one position. Both cities gained four points in the ratings and London remains eight points ahead of New York.
read more
IOSCO Issues Study of Regulatory Approaches and Tools to Deal with Cyber Risk
April 6, 2016--The Board of the International Organization of Securities Commissions (IOSCO) today published a report that brings together insights and perspectives from IOSCO's various policy, stakeholder and regional committees on the topic of cyber resilience.
read more
Ten Steps to build the Cities of the Future
April 6, 2016--The "business of running cities" is changing rapidly due to the emergence of new business models and technologies, which cover a wide range of urban services, such as mobility, infrastructure, energy, water, waste management, health, safety, security, welfare, the environment,knowledge, skills and culture.
read more
Seven essential guiding principles to boost financial inclusion laid out in new report
April 5, 2016--Seven guiding principles to help countries increase financial inclusion were set out in a report released today by the Committee on Payments and Market Infrastructures (CPMI) and the World Bank Group.
read more
WEF-Can We Predict Real Estate Bubbles?
April 5, 2016--The World Economic Forum's Shaping the Future of Real Estate initiative defines real estate asset ecosystems and how real estate bubbles could be limited through innovative solutions
read more
IMF-Emerging Economies Affect Global Financial Changes
April 4, 2016--Changes in global asset prices increasingly reflect financial developments in emerging economies
Financial integration main force for changes
Policymakers must take into account emerging economies' economic, policy developments
read more
Insurance Sector Contributes More Risk to Financial System since Crisis
April 4, 2016--Life insurers' role more important in financial system
Insurers more exposed to economy-wide risks
Monitoring common risk exposures key for supervision
Life insurers in major advanced economies have contributed more risk to the financial system as a whole since the global financial crisis, according to new research by the International Monetary Fund.
read more
Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption
Millions of documents show heads of state, criminals and celebrities using secret hideaways in tax havens
April 3, 2016--A massive leak of documents exposes the offshore holdings of 12 current and former world leaders and reveals how associates of Russian President Vladimir Putin secretly shuffled as much as $2 billion through banks and shadow companies.
read more
Eurex: Trading statistics March 2016
Eurex Exchange: ADV 8.2 million contracts/ISE: ADV 2.3 million contracts
April 1, 2016--In March 2016, the international derivatives markets of Eurex, part of Deutsche Börse Group, recorded an average daily volume of 10.5 million contracts (March 2015: 9.6 million). Of those, 8.2 million were Eurex Exchange contracts (March 2015: 7.3 million), and 2.3 million contracts (March 2015: 2.3 million) were traded at the New York based International Securities Exchange (ISE).
read more
Russell cuts confirm buyside focus on staff numbers
April 1, 2016--Russell Investments is trimming 2% of its global operations team, in a move that follows BlackRock's decision to eliminate 3% of its workforce and confirms a pattern of hiring freezes, internal promotions and staff cuts across the asset management sector.
read more
Second report on risk-weighted assets in the banking book published by the Basel Committee
April 1, 2016--The Basel Committee on Banking Supervision has today published a second report on risk-weighted assets (RWAs) in the banking book, as part of its Regulatory Consistency Assessment Programme (RCAP) to ensure full and effective implementation of the Basel III framework.
read more
Wall Street and tech start to move past bitcoin
April 1, 2016--Bitcoin, the revolutionary technological innovation, is becoming old hat.
read more
Basel Said to Weigh Change That Could Ease Derivatives Capital
April 1, 2016--New derivatives math would lower burden for some lenders
Regulators may also raise leverage ratio for 30 biggest banks
read more
Scientists create synthetic tissues that mimic nerves
April 1, 2016--Combination of 3D printing and chemistry holds out hope for nervous system repair
read more
World Gold Council-Market Update: Gold in a world of negative interest rates
March 31, 2016--Investors should consider doubling their gold allocations amid negative interest rates
read more
Infographic-The Relationship Between Stock Exchanges and Indices
March 31, 2016--The NYSE and NASDAQ are the two largest stock exchanges in the world by market capitalization. However, what is their relation to major indices such as the S&P 500, S&P 100, and the Dow Jones Industrial Average?
read more