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CBO-The Budget and Economic Outlook: 2018 to 2028
April 9, 2018--In CBO's projections, the economy grows relatively quickly this year and next and then more slowly in the following several years. The federal budget deficit rises substantially, boosting federal debt to nearly 100 percent of GDP by 2028.
In CBO's baseline projections, which incorporate the assumption that current laws governing taxes and spending generally remain unchanged, the federal budget deficit grows substantially over the next few years. Later on, between 2023 and 2028, it stabilizes in relation to the size of the economy, though at a high level by historical standards.
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Source: Congressional Budget Office (CBO)
AdvisorShares Weekly Market Review-Tariffs Throw A Cat Amongst The Pigeons
April 9, 2018--Highlights of the Prior Week Ending 4/6/2018
Macro
Last week was a crazy one; it is difficult to know where to get started so we will try with the jobs data, which showed a disappointing gain of 103,000, which was about 80,000 short of expectations. The headline unemployment rate reported at 4.1%.
The broader U6 dropped to 8.0%. The Labor Force Participation rate downticked to 62.9%. Revisions were tough, taking 50,000 out of the previous reports. Wages perked up a little, rising 0.3%, which works out to 2.7% year over year.
Although it was a lousy report, remember that last month printed above 300,000 (that report was actually revised higher despite the net revision for the last two months being negative), which raises the possibility that jobs were pulled forward and a two month average around 200,000 is still pretty good an generally in line with the previous few months.
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Source: AdvisorShares
Amplify ETFs Announces Primary Listing Venue Change for Two ETFs
April 6, 2018--Amplify ETFs announced today that it plans to change the primary listing venue for two of its ETFs. The following funds are scheduled to move on or about April 19, 2018:
Ticker: DIVO
Fund Name: Amplify YieldShares CWP Dividend & Option Income ETF
Current listing: CBOE BZX New listing: NYSE Arca
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Source: Amplify ETFs
Intercontinental Exchange to buy Chicago Stock Exchange
April 6, 2018--The Chicago Stock Exchange (CHX) said on Thursday it would be bought by NYSE-operator Intercontinental Exchange Inc (ICE.N) for an undisclosed amount, a month-and-a-half after U.S. regulators blocked the sale of CHX to China-based investors.
The Wall Street Journal last month reported that the exchange operator may pay about $70 million for CHX.
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Source: Reuters
Cryptocurrency Firm Coinbase in Talks to Become SEC-Regulated Brokerage
April 6, 2018--Move comes as regulators wage aggressive campaign to supervise fledgling industry
Coinbase, a leading cryptocurrency firm, has approached U.S. regulators about registering as a licensed brokerage firm and electronic-trading venue, a move that comes as regulators have waged an aggressive campaign to supervise the fledgling industry.
The San Francisco-based startup, one of the world's largest platforms for trading bitcoin and other cryptocurrencies, has met with Securities and Exchange Commission officials in recent weeks about registering its business with the agency, according to people familiar
Market Overview
If you like stock market volatility, this was the week for you. view more JP Morgan's chief highlights ETF and index fund risks
In a letter to shareholders, the US investment bank's chief executive officer highlighted that ETFs and passive index funds manage more money than ever before and questioned the result of those funds going bankrupt. view more
It was the group's third straight week of negative net flows during which time its coffers shrank $35.6 billion. Taxable bond funds (+$3.5 billion) and money market funds (+$1.9 billion) both took in net new money for the week, while municipal debt funds (-$247 million) experienced net outflows.
Source: Thomson Reuters
April 5, 2018--In a letter to shareholders Jamie Dimon questions what would happen if ETF and index funds went into large liquidation.
JP Morgan boss Jamie Dimon has listed exchange-traded funds (ETFs) and passive index funds among the risks the institution is currently most worried about.
Source: thetradenews.com
