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CBO-How Changes in Economic Conditions Might Affect the Federal Budget: 2022 to 2032
June 8, 2022--To show how variations in economic conditions might affect its budget projections, CBO analyzed how the budget might change if values of four key economic variables differed from those in the agency’s forecast.
Summary
Some of the uncertainty in budget projections stems from the fact that the federal budget is highly sensitive to economic conditions, which are difficult to accurately predict.
If conditions differed from those in the Congressional Budget Office's economic forecast, budgetary outcomes could diverge from those in the agency's baseline budget projections.
To show how variations in economic conditions might affect its budget projections, CBO analyzed how the budget might change if values of the following key economic variables differed from those in the agency's forecast:
The growth of productivity and, consequently, the growth of real gross domestic product (that is, GDP adjusted to remove the effects of inflation);
Labor force growth, which would also affect real GDP growth;
Interest rates; and
Inflation and nominal interest rates (assuming that inflation-adjusted interest rates remain unchanged).
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Source: CBO (Congressional Budget Office)
USCF Announces Launch of the USCF Dividend Income Fund with Miller/Howard Investments (Ticker: UDI)
June 8, 2022-- USCF, today, announced it has launched the USCF Dividend Income Fund ("UDI" or the "Fund") with Miller/Howard Investments, Inc. ("Miller/Howard"), a Woodstock, NY based, research-driven asset manager. The Fund, an actively-managed exchange traded fund (ETF), seeks a high level of current income and, as a secondary objective, growth of income, by investing in U.S. exchange-traded dividend-paying and dividend-growth companies that meet the Fund's environmental, social and governance ("ESG") criteria.
Miller/Howard's investment philosophy emphasizes income-producing equities as an essential element to aid long-term wealth building. Dividend income can be used to meet current spending needs or, when reinvested, to drive the power of compounding. Miller/Howard has integrated ESG analysis with fundamental research since the inception of its first strategy in 1991.
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Source: USCF
Newday Impact Launches Ocean Health ETF, Pledges 5% Donation to Non-Profit Working in Ocean Health Newday Impact Investing
June 7, 2022--Over 80% of Portfolio Actively Involved in Protecting Ocean Resources
Newday Impact, a San Francisco-based asset management and financial technology company that brings authentic responsible investing to those seeking investments that reflect their values, today launches the Newday Ocean Health ETF (NYSE: AHOY).
The fund-Newday Impact's first exchange traded fund and one of the few ETFs dedicated to protecting and restoring healthy marine ecosystems- builds on the company's five years of impact investing and strong relationships with grassroots nonprofit organizations working to mitigate environmental damage to the world's oceans.
The Newday Ocean Health ETF seeks long-term capital appreciation through investments in companies that are diverting ocean-bound plastic waste, supporting sustainable fisheries, controlling ocean acidification caused by CO2 emissions, and actively using other strategies to combat ocean pollution and other threats to marine health. The entire portfolio is also aligned with UN Sustainable Development Goals including zero hunger, clean water and sanitation, decent work and economic growth, responsible consumption and production, climate action, and life below water.
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Source: Newday
US trading firm Jane Street sues LME for nickel trade chaos
June 7, 2022--Lawsuit comes a day after similar action by Elliott against metals exchange over March trade halt.
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Source: ft.com
SEC chair Gary Gensler to set out overhaul of US equity market
June 6, 2022--Proposals include new auctions to decide which trading groups handle retail investors' orders
The Securities and Exchange Commission is exploring an overhaul of US stock market rules to strengthen competition and ensure individual investors are fairly treated after the explosion in retail trading during the coronavirus pandemic.
The regulator has been reviewing equity market structure since last year, when chair Gary Gensler said the meme-stock frenzy -when traders organised online to drive up the shares of a handful of companies-highlighted "inefficiencies" in the market.
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Source: ft.com
Passive fund ownership of US stocks overtakes active for first time
June 5, 2022--Around 16 per cent of US stocks are held by index trackers and ETFs vs 14 per cent by actively managed funds
Passively managed index funds have overtaken actively managed funds' ownership of the US stock market for the first time, data show.
Passive funds accounted for 16 per cent of US stock market capitalisation at the end of 2021, surpassing the 14 per cent held by active funds, according to the Investment Company Institute, an industry body.
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Source: ft.com
J.P. Morgan Integrates With ICE ETF Hub Creating Connectivity for Its ETF Issuers
June 2, 2022--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that J.P. Morgan's Securities Services has integrated with ICE ETF Hub to facilitate connectivity for its ETF issuers.
"The integration of J.P. Morgan's Securities Services business into the ETF Hub builds on our mission of improving ETF workflows by establishing connectivity for ETF issuers," said Peter Borstelmann, President of ICE Bonds. "This integration broadens the ETF Hub's community and brings greater efficiencies to our customers."
ICE ETF Hub continues to bring efficiencies to primary trading workflows by providing market participants with open architecture technology, which simplifies and standardizes the process for ETF creation and redemption.
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Source: Intercontinental Exchange
CFTC Sues Gemini Over Bitcoin Futures Case From 2017
June 2, 2022--Gemini partnered with Cboe to try and launch what would have been the nation's first bitcoin futures contracts.
The Commodity Futures Trading Commission (CFTC) sued Gemini Trust Company LLC Thursday on allegations the crypto exchange's staff misled the federal regulator during Gemini's 2017 effort to launch trading of what would have been a landmark bitcoin (BTC) futures contract.
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Source: coindesk.com
First futures exchange aimed at health care economy has filed for regulatory approval
June 1, 2022--Intelligent Medicine Exchange (IMX) to offer new risk management, investing tools based on underlying health care data
Intelligent Medicine Exchange (IMX)TM today announced its plans to launch the first financial exchange focused on the health care economy.
IMX has filed for regulatory approval with the U.S. Commodity Futures Trading Commission (CFTC) to be a Designated Contract Market (DCM)-a futures exchange focused on contracts that will enable individual and institutional market participants to manage risk and invest in multiple components of the health care ecosystem.
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Source: IMX Health, LLC
ProcureAM Launches First-Ever Global Disaster Recovery ETF
June 1, 2022--Approach provides investment exposure to $2.2 trillion industry. Firm to celebrate launch by ringing Nasdaq opening bell
Since 1980, the United States alone has sustained 323 weather and climate disasters, costing a staggering $2.2 trillion dollars in total.
By the end of this century, the U.S. government predicts $2 trillion per year in damages from hurricanes, wildfires, floods, droughts, severe storms or earthquakes. The FEMA ETF is the first fund to invest in companies worldwide that are engaged in sustainable recovery and risk reduction efforts of natural disasters.
Index constituents include companies that are materially involved in emergency/backup power generators and batteries, engineering and construction, specialty industrial machinery, building products and materials, as well as waste management, among others. Companies that received contracts with the Federal Emergency Management Agency or similar agencies in the last five years also qualify for inclusion in the fund.
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Source: ProcureAM
