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Direxion Launches 3X Leveraged ETF on Emerging Market Bonds
August 17, 2017--New ETF Provides 300% Exposure to J.P. Morgan EMBI(R) Global Core Index
Direxion has launched the Direxion Daily Emerging Markets Bond Bull 3X Shares (Ticker: EMBU).
The Fund seeks to achieve 300% of the daily performance of the J.P. Morgan EMBI(R) Global Core Index. The index provides exposure to U.S. dollar-denominated government bonds issued by 55 emerging market countries.
Fund: Direxion Daily Emerging Markets Bond Bull 3X Shares
Symbol: EMBU
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Source: Direxion
The Forum at ETF Research Center-New Coverage Notables
August 16, 2017--We just added 32 equity ETFs to our database, all of them newly listed in the past few months (Table 1). Twenty six of them are classified as "Smart Beta" funds, always fertile ground for new products despite the fact that smart beta's growth in market share seems to have stalled in recent quarters.
Among the more notable listings is the iShares Core MSCI International Developed Markets ETF (IDEV), which provides international exposure at a rock-bottom expense ratio of 7 basis points. Though similar to the iShares Core MSCI EAFE ETF (IEFA, expense ratio of 8bp) with 72% overlap, IDEV offers exposure to Canada whereas the EAFE Index has none.
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Source: AltaVista Research
Federal Reserve Research paper: FinTech and Financial Innovation: Drivers and Depth
August 16, 2017--This paper released by the Federal Reserve explores the current wave of fintech innovations and why technology appears poised to bring about massive changes in the financial sector.
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Source: federalreserve.gov
Advisers Project Political Climate to be Greatest Source of Volatility
August 16, 2017--Eaton Vance has updated its Adviser Top-of-Mind Index, revealing advisers' biggest concerns as well as potential solutions.
Market volatility remains a top concern for advisers, according to the latest Adviser Top-of-Mind Index by Eaton Vance.
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Source: planadviser.com
CFTC.gov Swaps Report Update
August 16, 2017--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Thompson Hine SEC Eases Form ADV Compliance Deadline for Interim Updates
Investment Management Update
August 16, 2017--On August 25, 2016, the SEC adopted amendments to Form ADV that have a compliance date of October 1, 2017.
As of that date, any adviser filing an initial Form ADV or an amendment to an existing Form ADV will be required to provide responses to the form revisions adopted in the rulemaking, such as increased disclosure on separately managed account portfolios.
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Source: ThompsonHine.com
VelocityShares(R) Launches LIBOR Rate ETNs
August 16, 2017--Exchange Traded Notes ULBR and DLBR provide U.S. investors with products linked to composite forward LIBOR rate
VelocityShares, a Janus Henderson Group plc (NYSE:JHG) brand, today announced the launch of two new composite forward LIBOR rate linked Exchange Traded Notes ("ETN").
VelocityShares(R) Long LIBOR ETNs (NYSE Arca:ULBR) linked to the Janus Velocity Long LIBOR Index
VelocityShares(R) Short LIBOR ETNs (NYSE Arca:DLBR) linked to the Janus Velocity Short LIBOR Index
The ETNs are issued by Citigroup Global Markets Holdings Inc., and all payments due on the ETNs are guaranteed by Citigroup Inc.
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Source: Janus Henderson
Minutes of the Federal Open Market Committee, July 25-26, 2017
August 16, 2017--Information received since the Federal Open Market Committee met in June indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year.
Job gains have been solid, on average, since the beginning of the year, and the unemployment rate has declined. Household spending and business fixed investment have continued to expand. On a 12-month basis, overall inflation and the measure excluding food and energy prices have declined and are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
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Source: federalreserve.gov
Treasury International Capital Data for June
August 15, 2017--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for June 2016. The next release, which will report on data for July 2016, is scheduled for September 16, 2016.
The sum total in June of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC outflow of $202.8 billion. Of this, net foreign private outflows were $162.4 billion, and net foreign official outflows were $40.4 billion.
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Source: treasury.gov
The Next Quant Meltdown
August 15, 2017--Fund managers who survived the quant bloodbath of August 2007 say the strategy is safer ten years later.
But with its popularity soaring to new heights, some wonder whether crowded trades-and rising leverage-will lead to another downfall.
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Source: alpha Institutional Investor
