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How much higher can interest rates go? A lot higher.
May 19, 2022--There has recently been a lot of talk in the market, on financial news and elsewhere that basically takes the following form:
Yes, the Fed has to raise short-term interest rates. They will move 50 basis points at each of the next "X" meetings. However, the market has already priced it in, so we have seen peak inflation and we have seen the worst in long-term rates.
This view could not be more wrong.
Medium- and long-term interest rates can and very likely will go a lot higher.
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Source: foliobeyond.com
How More Than $1 Trillion of Crypto Vanished in Just Six Months
May 13, 2022--The helium is coming out of bitcoin and other cryptocurrencies as investors shy away from risk
Traders' flight from risky investments has halved the price of bitcoin and other cryptocurrencies,wiping out more than $1 trillion worth of digital money since November.
Wild swings are fairly common with cryptocurrencies,but even seasoned investors were left reeling as bitcoin dropped 29% over a seven-day losing streak that just ended as a stablecoin-one part of the crypto world that touted its stability-unexpectedly crashed.
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Source: wsj.com
Bitcoin's crashing.
May 13, 2022-The Biden administration wants to keep it out of your 401(k).
A move by Fidelity Investments to let retirement savers add Bitcoin to their 401(k)s is becoming a new flash point in the fight over crypto regulation, pitting free-market Republicans against Democrats who say it’s a threat to millions of consumers.
The Biden Labor Department,which polices employer-sponsored 401(k)s,has warned the 76-year-old asset management firm that its foray into volatile crypto markets could endanger future retirees.
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Source: politico.com
DoubleLine Shiller CAPE(R) U.S. Equities ETF to Trade Under the Ticker "CAPE"
May 12, 2022-- At the open of trading on May 25, the DoubleLine Shiller CAPE(R) U.S. Equities ETF (or the "Equities ETF") will begin trading under the ticker symbol "CAPE." The Equities ETF was launched April 5 on the NYSE Arca under the ticker symbol "DCPE." Until recently, "CAPE" was the ticker symbol for the iPath Shiller CAPE exchange-traded note issued by Barclays.
DoubleLine Shiller CAPE(R) U.S. Equities ETF seeks total return that exceeds the total return of the S&P 500 Index by managing the portfolio to approximate the return of the Shiller Barclays CAPE(R) U.S. Sector TR USD Index (or "the Index"). The Index incorporates the principles of long-term investing distilled by Dr. Robert Shiller and expressed through the CAPE(R) (Cyclically Adjusted Price Earnings) ratio (the "CAPE(R) Ratio").
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Source: DoubleLine
State Street Global Advisors Launches SPDR MarketAxess Investment Grade 400 Corporate Bond ETF
May 12, 2022--SPDR's first fixed income ETF built on liquidity
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the launch of the SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG).
Designed to blend the advantages of an ETF with the tradability benefits of investing in US Investment grade corporate bonds with higher liquidity compared to the broader U.S. corporate bond market, LQIG offers investors credit exposure with the potential for tighter bid-ask spreads, lower premium/discounts, and more transparency into the underlying holdings' real-time valuations.
"The growth of electronic bond trading volume coupled with the increasing adoption of fixed income ETFs is bringing the benefits of bond liquidity to all investors," said Rory Tobin, Global Head of SPDR ETF Business at State Street Global Advisors.
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Source: State Street Global Advisors
GAMCO Investors to Offer Gabelli Financial Services Opportunities ETF (GABF)
May 10, 2022--GAMCO Investors, Inc. ("GAMCO") (NYSE: GBL) will launch Gabelli Financial Services Opportunities ETF (NYSE: GABF), on or around May 10, 2022.
GAMCO will offer a "loyalty" program under which the first $25 million of the Fund's assets under management will incur no fees and expenses.
GABF's investment objective is to seek capital appreciation.
The Fund will seek to identify and invest in leading firms in the financial services sector that are positioned to benefit from long-term economic trends including greater demand for wealth advisory and asset management services
The Fund will seek out firms that are instrumental in building and providing payments infrastructure and firms that are leveraging technology to lower client acquisition costs, improve operating efficiency, and drive higher customer engagement from digital applications
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Source: Gabelli Funds, LLC
The First AI-driven Target Income ETF Aims a Steady 7% Annual Distribution Rate
May 10, 2022-- AI-based asset management fintech start-up Akros Technologies becomes the first to list an AI-driven target income ETF with monthly distributions at the NYSE.
Akros' income ETF aims for monthly distributions of an annualized target rate of 7% to seek income maximization.
Akros is on course to list another ETF in the 2nd half of 2022 targeting capital gain maximization.
Akros is led by the co-founder and CEO Kyle Moon who has a vast experience in AI and its application in finance.
AI-driven asset management fintech start-up Akros Technologies ("Akros") announced on Friday the 6th of May that it has become the first company to list an AI-driven target income ETF with monthly distributions at the NYSE.
The listed income ETF is 'Akros Monthly Payout ETF' (ticker: MPAY) which aims for monthly distributions at an annualized target rate of 7%. The distributions of the ETF are comparable in essence to stock dividends such that MPAY can serve as a viable investment option for those who are looking for a new source of passive income and those looking to save for retirement. The ETF benchmarks 'Akros Multi-Asset Index' that the company developed last month without options and leverage.
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Source: Akros Technologies
Dimensional Lists US Marketwide Value ETF After Completing Mutual Fund-to-ETF Conversion
May 9, 2022--Dimensional Fund Advisors, a global leader in systematic investing, further expanded its exchange-traded funds (ETFs) offering with today's listing of the firm's US Marketwide Value ETF. This new fund is the result of Dimensional's conversion of its Tax-Managed US Marketwide Value Portfolio II mutual fund into an active transparent ETF, the seventh and final planned conversion of the firm's tax-managed mutual funds into ETFs since June 2021.
The new fund, which is listed on the New York Stock Exchange (NYSE), is:
US Marketwide Value ETF (NYSE Arca: DFUV)
Net expense ratio1: 0.23%
Description: US market solution that emphasizes companies with low prices in relation to their book values2 and targets higher expected returns and consistent exposure through a daily flexible process
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Source: Dimensional Fund Advisors
First Trust Announces Changes in Investment Strategies and Other Related Matters for First Trust Hedged BuyWrite Income ETF
May 6, 2022--First Trust Advisors L.P. ("FTA") announced today that First Trust Hedged BuyWrite Income ETF (Nasdaq: FTLB) (the "Fund"), a series of First Trust Exchange-Traded Fund VI (the "Trust"), will change its investment strategy ("New Strategy"), name and other related matters, effective May 11, 2022.
Although the Fund will continue to seek its current investment objective of current income, on May 11, 2022, the Fund will adopt an amended investment strategy that involves investing primarily in equity securities listed on U.S. exchanges and utilizing an "option strategy" consisting of writing (selling) U.S. exchange-traded call options on the Nasdaq-100 Index. Pursuant to the New Strategy, under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the components of the Nasdaq Composite Index.
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Source: First Trust Advisors L.P.
Fed says banks in good shape despite volatility, warns on prime broker risk
May 6. 2022--The U.S. Federal Reserve said Friday the U.S. banking system remains strong despite heightened volatility and geopolitical risk, but cautioned them against prime brokerage services that come with heightened risk.
In its latest bank supervision report, the Fed offered an upbeat take on the strength of U.S. banks, noting they continue to enjoy robust capital and liquidity levels, and asset quality improved in the second half of 2021.
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Source: reuters.com
