Post-crisis restrictions on international banking can blunt growth prospects in developing countries-continued

November 7, 2017--Growing restrictions imposed on foreign banks operating in developing countries since the 2007/9 global financial crisis are hampering better growth prospects by limiting the flow of much-needed financing to firms and households, a World Bank report warned on Tuesday.
International banking can have important benefits for development, but is no panacea, and carries risks. Developing economy policymakers would do well to consider how to maximize the benefits of cross-border banking while minimizing its costs, the World Bank's Global Financial Development Report 2017/2018: Bankers without Borders says.

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view the Global Financial Development Report 2017/2018: Bankers without Borders Report

Source: World Bank

Global ETP News
Thomson Reuters-Investors Pad the Coffers of Equity Funds for the First Month in 11, While Equity ETFs Make It 20 in a Row
February 16, 2018--For the first month in 11 conventional mutual fund investors padded the coffers of equity funds, while being net purchasers of fixed income funds for the thirteenth month in a row. Authorized participants (APs-those investors that actually create and redeem ETF shares) remained fully engaged, injecting a whopping $58.6 billion into equity ETFs, with U.S. Diversified Equity (USDE) ETFs (+$27.4 billion) outdrawing their World Equity ETF counterparts (+$20.0 billion).
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ETF Securities Investment Insights Silver outlook-Not second fiddle in a growth cycle
February 16, 2018--Summary
Silver's discount to gold may spark investor bargain buying.
Continued strength in the industrial cycle and a constrained mine supply may keep the metal in a supply deficit.
Silver prices may reach $19-20/ounce (oz) range by year-end.
More upside potential than gold
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DECPG Global Weekly
February 16, 2018--TAKING STOCK
U.S. consumer price inflation exceeded expectations in January; retail sales and industrial production fell
Euro Area industrial production rose in December; GDP growth reached a 10-year high in 2017
Japan's GDP growth slowed in the fourth quarter of 2017
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Change of Urban Population in Europe and Central Asia
February 14, 2018--The urbanization experience of countries across Eastern Europe and Central Asia is profoundly affected by demographic transition over the last 25 years. By 1990, about 68% of the population in the region lived in urban areas.
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IOSCO consults on proposed policy measures to protect investors of OTC leveraged products
February 13, 2018--The International Organization of Securities Commissions (IOSCO) has issued today a consultation report proposing policy measures for its members to consider when addressing the risks arising from the offer and sale of OTC leveraged products to retail clients.
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IEA-OMR: History repeating itself?
February 13, 2018--This month's OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand.
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ETF Securities Weekly Flows Analysis-ETF investors see silver lining in equity storm
February 12, 2018--February 12, 2018--A rout in cyclical markets set off a pronounced sell-off in commodities, including industrial metals, oil and gold.
ETF investors however, saw an opportunity to buy equities following price declines.
Record US oil production continues to weigh on oil.
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ETF market smashes through $5tn barrier after record month
February 11, 2018--Tectonic shift causes profound changes across global asset management industry
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DECPG Global Weekly
February 9, 2018--TAKING STOCK
Global equity markets reversed year-to-date gains
U.S. trade deficit rose to near-decade high; services activity was strong in January
Euro Area retail sales moderated in December; Composite PMI increased in January
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IMF Working paper-Commodity-based Sovereign Wealth Funds: Managing Financial Flows in the Context of the Sovereign Balance Sheet
February 9, 2018--Summary:
Commodity-based sovereign wealth funds (SWFs) have been at a crossroads following the recent fall in commodity prices.
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High-Speed Traders Savor Volatility as Rest of Market Is Crushed
February 9, 2018--Virtu, Flow's shares soar after being stuck in the doldrums
Heavy volume and volatile markets are ideal for trading firms
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Solactive No. 1 Index Provider for ETF Launches in January
February 9, 2018--Close to 50% of ETF launches in the first month of 2018 rely on Solactive services
This year has started strong for Solactive and the ETF industry. The German index engineer has achieved a record number of index-linked launches, making it the number one provider of indices for ETFs in January 2018.
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ETFGI reports that assets invested in ETFs and ETPs listed globally broke through the US$5 trillion milestone at the end of January 2018
February 9, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in ETFs and ETPs listed globally broke through the US$5 trillion milestone at the end of January 2018 (All dollar values in USD unless otherwise noted.)
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World Gold Council-Gold-backed ETFs added 27.6t in January 2018, growing assets by 5% (US$4.9bn)
February 8, 2018--Regional fund flows
North American funds accumulated 21.5t of gold (US$940mn, 1.8% AUM).
European funds, added 7.6t (US$35mn, 8bp AUM)
Asian funds lost 1.4t (US$33mn, 1% AUM)
Other regions had marginal outflows of 0.1t (US$9mn, 51bp AUM)
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Gold Demand Trends Full Year 2017
February 6, 2018--Gold demand rallied in the closing months of 2017, gaining 6% year-on-year (y-o-y) to 1,095.8 tonnes (t) in Q4. But it was too little, too late: full year demand fell by 7% to 4,071.7t. ETF inflows, although positive, lagged behind 2016's stellar growth.
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Infographic-Summing Up 5 Key Predictions For Global Markets in 2018
February 5, 2018--Despite being roughly nine years into the second-longest bull market in history, recent headwinds have cropped up to make the start of 2018 an interesting one for markets.
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ETF Securities-Precious Metals Monitor--January 2018
February 5, 2018--Key Highlights
Gold: Don't Fret Just Yet About Rising US Bond Yields
Gold has risen 26% since the start of the current Federal Reserve ("Fed") tightening cycle in December 2015. To many this came as a surprise, since the rule of thumb is that rising rates are bad for gold prices.
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Stock lending by ETF operators worries investors
February 4, 2018--Using a process known as securities lending,,the ETF will loan stock in a company to a hedge fund (for a fee or other benefit) and receive collateral in return, usually in the form of either stocks or cash.
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Strong ESG policies are no protection against scandal
February 3, 2018--Companies that aim to do good for society by adhering to environmental, social and governance policies are more likely to encounter lawsuits and regulatory actions, says BlackRock.
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IOSCO issues recommendations and good practices to improve liquidity risk management for investment funds
February 2, 2018--The Board of the International Organization of Securities Commissions (IOSCO) has issued today final recommendations that seek to improve liquidity risk management practices of open-ended collective investment schemes (CIS) as part of its mission to protect investors, ensure fair and efficient financial markets and reduce systemic risk.
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DECPG Global Weekly
February 2, 2018--TAKING STOCK
U.S. nonfarm payrolls picked up in January; Federal Reserve left interest rates unchanged
Euro Area GDP growth reached a 10-year high in 2017; inflation slowed in January
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Bit-pop: Bitcoin rout deepens, down more than 40% so far this year
February 2, 2018--Financial Times Bitcoin is having a bad year, and it's only February 2. The cryptocurrency has come under further pressure on Friday and deepened its 2018 loss to more than 40 per cent.
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EDHEC-Risk Institute provides an academic framework to maximise the benefits of factor investing for institutional investors
February 1, 2018--The relevance of factor investing is gaining acceptance amongst sophisticated investors. The approach recommends that allocation decisions be taken in terms of risk factors, as opposed to standard asset class decompositions.
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Enhancing the performance of alternatives with gold
February 1, 2018--In recent years, buy-and-hold investors such as pension funds, endowments, insurance companies, and sovereign wealth funds (SWFs) have gradually increased their investments in alternative assets to diversify their portfolios and boost returns. 'Alternatives' make up 23% of SWF portfolios and 24% of global pension funds, up from single digits in 2000.
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The Financial Secrecy Index 2018
January 31, 2018--The Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities.
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Oil prices fall for third day on inventory build
January 31, 2018--U.S. oil prices fell for a third day on Wednesday after data from an industry body showed crude stocks rose more than expected last week, while a selloff in other commodities, stocks and bonds added to the bearish tone.
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Investor Confidence Rose in January by 6.4 points to 102.1
January 30, 2018--Investor Confidence in Europe Shows Marked Enthusiasm
State Street Global Exchange today released the results of the State Street Investor Confidence Index(R)(ICI) for January 2018.
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BMO Annual ETF Outlook Report: Global ETF Industry Had Record Breaking Year in 2017
January 30, 2018--Global ETF market hit record high of US$4.6 trillion in AUM
Key trends for 2018: fixed income and thematic investing
Canadian ETF industry expected to reach C$400 billion in AUM by 2023.
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Not Making A Mint: Bitcoin Dives To Below $10,000; Ethereum, Crypto Stocks Plunge
January 30, 2018--Bitcoin lost nearly a tenth of its value Tuesday, crashing below the $10,000 level amid new regulatory measures in the U.S. and South Korea and sweeping advertising curbs by Facebook (FB).
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EDHECinfra reveals industry standard for unlisted infrastructure benchmarks
January 30, 2018--Based on preferences expressed by major institutions in a new survey, EDHECinfra is releasing a taxonomy of global indices and sub-indices to structure the infrastructure asset class.
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ETFGI reports that assets invested in Active ETFs and ETPs listed globally increased by 57.3% during 2017 to reach a new high of US$75.20 Bn
January 29, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in Active ETFs and ETPs listed globally increased by 57.3% during 2017 to reach a new high of US$75.20 Bn at the end of December. (All dollar values in USD unless otherwise noted.)
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DECPG Global Weekly
January 26, 2018--TAKING STOCK
U.S. GDP growth slowed in Q4; PCE price inflation accelerated
Euro Area composite PMI rose in January; ECB kept interest rates unchanged
Japan flash manufacturing PMI rose in January; central bank kept interest rates on hold.
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Winthrop Capital Management 2018 Economic & Capital Market Outlook
January 26, 2018--We are at an interesting point in the economic and capital market adventure that has been transpiring for almost ten years. We hesitate to use the word "cycle" because that implies that economic activity, measured by our country's outputs and capital markets, will actually turn down.
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IMF Working paper-Lending Standards and Output Growth
January 26, 2018--While some credit booms are followed by economic underperformance, many are not. Can lending standards help separate good credit booms from bad credit booms contemporaneously?
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ETFGI reports that assets invested in Smart Beta ETFs and ETPs listed globally increased by 32.3 percent during 2017 to reach 658 billion US dollars
January 26, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in Smart Beta ETFs and ETPs listed globally increased by 32.3% during 2017 to reach a new high of US$658.35 Bn at the end of December. (All dollar values in USD unless otherwise noted.)
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World Gold Council-Cryptocurrencies are no substitute for gold
January 25, 2018--Bitcoin's parabolic price rise was the big story of 2017-putting the spotlight on the cryptocurrency market. While gold's performance was a solid 13%, it was a fraction of the 13-fold increase of bitcoin by the end of the year.
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Switzerland overtakes Hong Kong to claim top spot in freedom index, United States rises to 17th
January 25, 2018--Switzerland is the freest country in the world, having replaced Hong Kong atop the Human Freedom Index, released today by the Fraser Institute and a network of international public policy think-tanks.
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ETF Securities Commodity Monthly Monitor-US dollar gives transitory boost to commodities Jan/Feb 2018
January 25, 2018--Summary:
Commodities have enjoyed a great start to 2018. From the low point mid-December they have rallied 6.7%. The performance has been broad-based too-driven not only by the Iran issues inflating the oil price-but a rally in industrial/precious metals and agriculture.
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ETF Securities Investment Insights Commodity Optimism Rises with Reflation
January 24, 2018--Summary
Global manufacturing may push commodity demand higher.
Investors yet to regain previous positions in commodity funds.
Commodities tend to outperform in high growth and inflation periods.
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BIS-New report assesses structural change in global banking
January 24, 2018--Bank profitability has fallen from pre-crisis peaks but banks have become more resilient to risks, finds a new report by the Committee on the Global Financial System (CGFS).
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STOXX Changes Country Classification Model
January 24, 2018--STOXX Ltd., the operator of Deutsche Boerse Group's index business, and a global provider of innovative and tradable index concepts' today announced that it has changed its Country Classification model.
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IMF Working Papers-Shadow Economies Around the World: What Did We Learn Over the Last 20 Years?
January 24, 2018--Summary:
We undertake an extended discussion of the latest developments about the existing and new estimation methods of the shadow economy. New results on the shadow economy for 158 countries all over the world are presented over 1991 to 2015. Strengths and weaknesses of these methods are assessed and a critical comparison and evaluation of the methods is carried out. The average size of the shadow economy of the 158 countries over 1991 to 2015 is 31.9 percent.
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IMF Working paper-Can Countries Manage Their Financial Conditions Amid Globalization?
January 24, 2018--Summary:
This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of advanced and emerging market economies. It finds that a common component, "global financial conditions," accounts for about 20 percent to 40 percent of the variation in countries' domestic FCIs, with notable heterogeneity across countries.
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World Gold Council-The relevance of gold as a strategic asset
January 23, 2018--Why gold, why now
Gold is becoming more mainstream. Since 2001, investment demand for gold worldwide has grown 18% per year, on average.
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New EDHEC survey on equity factor investing calls risk techniques into question
January 23, 2018--In a new survey conducted among investment professionals between June and September 2017, EDHEC-Risk Institute and ERI Scientific Beta have analysed the interests and motivations for investing in new forms of equity factor strategies.
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World Bank-Blockchain & Distributed Ledger Technology (DLT)
January 23, 2018--The rapid development and spread of new technologies has been significantly transforming the financial sector.
The World Bank Group published the first fintech note that looks at Distributed Ledger Technology and Blockchain, and analyzes its potential relevance for international development.
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IMF-World Economic Outlook Update, January 2018-Brighter Prospects, Optimistic Markets, Challenges Ahead
January 23, 2018--Global economic activity continues to firm up. Global output is estimated to have grown by 3.7 percent in 2017, which is 0.1 percentage point faster than projected in the fall and 12 percentage point higher than in 2016. The pickup in growth has been broad based, with notable upside surprises in Europe and Asia. Global growth forecasts for 2018 and 2019 have been revised upward by 0.2 percentage point to 3.9 percent.
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All-Night ETF Trading Arrives for TD Ameritrade Customers
January 22, 2018--Asian clients of TD Ameritrade can trade during their day
List of equities that can be traded after-hours to grow
Stock traders who want to pull all-nighters can now do so through TD Ameritrade Holding Corp.
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DTCC Outlines Vision for Modernizing U.S. Equity Market Structure
January 22, 2018--January 22, 2018--Looking beyond T+2, DTCC examines ways to optimize and accelerate securities settlement to free up liquidity, reduce risk, and improve straight-through processing
The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced its vision for the evolution of the U.S. equities market structure, unveiling a series of proposals to provide seamless access to new shortened settlement processing options, both pre-and post-trade.
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Index Industry Association Surveys the Index Universe-First Annual Survey Reveals 3.288 Million Indexes Globally
January 22, 2018--Index Industry Association (IIA), a global organization of index administrators, today announced the results of a revealing new survey of its fourteen member firms that quantifies the total number of indexes available globally for the first time ever.
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FTSE Russell 2018 smart beta survey
January 22, 2018--The 2018 FTSE Russell advisor smart beta survey shows a bright future for smart beta among financial advisors in the US, UK and Canada, yet a long way to go toward broad-based knowledge and usage of smart beta strategies.
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The Current Economic Sweet Spot Is Not the "New Normal"
January 22, 2018--As the year 2018 begins, the world economy is gathering speed. The new World Economic Outlook Update revises our forecast for the world economy's growth in both 2018 and 2019 to 3.9 percent.
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DECPG Global Weekly
January 19, 2018--TAKING STOCK
U.S. consumer sentiment fell slightly in January; industrial production rose in December
Euro Area headline inflation edged down in December; trade surplus widened.
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New research paper-When Size Doesn't Matter: Equal Weighting vs Market Cap Weighting
January 18, 2018--Solactive publishes new research paper on equally weighted versus market cap weighted index strategies
When Size Doesn't Matter: Equal Weighting vs Market Cap Weighting provides a detailed overview of the equal weighting method, comparing this to the more traditional market cap weighting scheme.
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DECPG Global Monthly-January 2018
January 18, 2018-- Monthly Highlights
In the January 2018 Global Economic Prospects, global growth is projected to edge up to 3.1 percent this year, amid firming investment, trade, and commodity prices.
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