Americas ETP News
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US trade gap jumped to 10-year high; record gap with China
March 6, 2019--The U.S. trade deficit jumped nearly 19 percent in December, pushing the trade imbalance for all of 2018 to widen to a decade-long high of $621 billion. The gap with China on goods widened to an all-time record of $419.2 billion.
The Commerce Department figures released Wednesday undermined a key commitment by President Donald Trump, who promised to cut the trade imbalance on the belief that it would bring back overseas factory jobs and bolster the broader U.S. economy.
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Source: AP
CBO-The Budget Outlook for 2019 to 2029 in 16 Slides
March 6, 2019--CBO projects a 2019 deficit of $897 billion, equaling 4.2 percent of gross domestic product (GDP). The projected shortfall (adjusted to exclude the effects of shifts in the timing of certain payments) grows to 4.7 percent of GDP in 2029.
Federal debt held by the public is projected to reach $16.6 trillion at the end of 2019. That amount would equal 78 percent of GDP-nearly twice its average over the past 50 years. Debt is estimated to reach $28.7 trillion, or 93 percent of GDP, by 2029, a larger amount than at any time since just after World War II. It would continue to grow after 2029, reaching about 150 percent of GDP by 2049.
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Source: Congressional Budget Office (CBO)
CFTC.gov Swaps Report Update
March 6, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
VanEck Announces Changes to VanEck Vectors(R)ETF Product Line
March 5, 2019--VanEck, one of the largest providers of exchange traded funds ("ETFs") in the U.S. and worldwide with approximately $47.8 billion in assets under management as of January 31, 2019, announced today that it plans to close and liquidate three VanEck Vectors ETFs.
On March 4, 2019, the Board of Trustees of VanEck Vectors ETF Trust approved the liquidation and dissolution of the following funds (the "Funds"):
ETF Name: VanEck Vectors Generic Drugs ETF
Ticker: GNRX
Exchange: NASDAQ Stock Market.
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Source: VanEck
Democrats Introduce Bill to Tax Stocks, Bonds, Derivatives
March 5, 2019--Lawmakers argue the bill would generate billions in revenue while reducing inequality and market volatility.
Sens. Brian Schatz, D-Hawaii, Chris Van Hollen, D-Md., and Rep. Peter DeFazio, D-Ore., introduced Tuesday the Wall Street Tax Act, legislation to tax the sale of stocks, bonds and derivatives at a rate of 10 cents per $100 of transactions, with the goal of reducing "speculative trading."
In a joint statement, the lawmakers said their bill would create a new progressive tax on financial transactions "that would generate billions in revenue, while addressing economic inequality and reducing high risk and volatility" in the market.
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Source: thinkadvisor.com
Evolve Marijuana ETF is top-performing TSX-listed equity ETF over past year
March 5, 2019--Evolve ETFs ("Evolve") is pleased to announce that for the 12 month period ending February 28, 2019, the Evolve Marijuana ETF ("SEED") is Canada's top performer out of 504 equity ETFs listed on the TSX.1
EED returned 48.48% over this period, more than doubling the performance of the North American Marijuana Index during the same period.
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Source: Evolve ETFs
Defiance ETFs Launches the First 5G ETF (NYSE: FIVG) for 0.30%
March 5, 2019--Defiance ETFs has announced the launch of The Defiance Next Gen Connectivity ETF, the first 5G ETF (NYSE:FIVG) available for trading today, with an expense ratio of 0.30%
"5G is disruption. It is the catalyst of the next revolution of technology. In our view, 5G will likely be the engine behind smart cities, augmented reality, remote virtual robotics surgery, autonomous vehicles and quantum computing, which we expect to roll out in 2019," said Matthew Bielski, Chief Executive Officer of Defiance.
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Source: Defiance ETFs
J.P. Morgan Asset Management Announces Liquidation of Two Exchange-Traded Funds
March 5, 2019--Funds are expected to liquidate in April 2019
J.P. Morgan Asset Management today announced the upcoming liquidation and dissolution of two exchange-traded funds: JPMorgan Diversified Return International Currency Hedged ETF (JPIH) and JPMorgan Diversified Return Europe Currency Hedged ETF (JPEH) (collectively, the "Funds").
Shareholders of the Funds may sell their holdings of each Fund on NYSE Arca, Inc. ("NYSE Arca") until market close on March 28, 2019 (transaction fees from their broker-dealer may be incurred). The Funds' shares will no longer trade on NYSE Arca after market close on March 28, 2019, and the shares will subsequently be delisted. Shareholders who continue to hold shares of any of the Funds on the Funds' liquidation date, which is expected to be on or about April 5, 2019, will receive a liquidating distribution of cash in the cash portion of their brokerage accounts equal to the amount of the net asset value of their shares.
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Source: J.P. Morgan Asset Management
Cboe Global Markets Reports February 2019 Trading Volume
March 5, 2019--Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today reported February monthly trading volume.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of February and year-to-date trading statistics and market share by business segment, volume in select index products, and Revenue Per Contract (RPC), which is reported on a one-month lag, across business lines.
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Source: Cboe Global Markets, Inc.
CFTC.gov Commitments of Traders Reports Update
March 5, 2019--The current reports for the week of March 5, 2019 are now available.
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Source: CFTC.gov
