Americas ETP News
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U.S. Company Credit Risk Rises to 7-Week High on Europe Crisis
November 25, 2011--A benchmark gauge of U.S. company credit risk is poised to rise for the fourth week as Italy’s borrowing costs surged, fueling concern that Europe’s fiscal crisis is intensifying. The cost to protect Bank of America Corp. debt increased to a record.
The Markit CDX North America Investment Grade Index of credit default swaps, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, rose 1.7 basis points to a mid-price of 147.6 basis points at 1:19 p.m. in New York, according to Markit Group Ltd.
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Source: Bloomberg BusinessWeek
Direxion files with the SEC
August 23, 2011--Direxion Has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
Eurozone private sector activity contracts again: survey
November 23, 2011--Eurozone private sector activity retreated for the third month running in November as businesses worry about the impact of the debt crisis on the economy, a closely-watched survey showed on Wednesday.
Output growth in Germany, Europe's top economy, remained close to stagnation while in France it fell for the second month running, according to the Purchasing Managers Index (PMI) compiled by Markit research firm.
"Companies are clearly shaken by the debt crisis and its growing impact on the real economy, both in Europe and further afield," said Markit chief economist Chris Williamson.
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Source: EUbusiness
Legg Mason files with the SEC
November 23, 2011--Leggs Mason has filed a registration statement with the SEC for the Legg Mason Western Asset Ultra-Short Duration ETF.
view filing
Source: SEC.gov
Fed to test six big U.S. banks for Euro stress
November 22, 2011--The U.S. Federal Reserve plans to stress test six large U.S. banks against a hypothetical market shock, including a deterioration of the European debt crisis, as part of an annual review of bank health.
The Fed said it will publish next year the results of the tests for six banks that have large trading operations: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.
"They are clearly worried about the issue of Europe," said Nancy Bush, a longtime bank analyst and contributing editor at SNL Financial. "In a time of risk aversion and concern, you need transparency."
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Source: Reuters
Blackrock's Big Push for ETF Transparency
November 22, 2011-- ETF industry leader Blackrock(BLK_) is on a mission. The goal: inject a hearty dose of transparency into the global ETF universe.
As indicated by the National Stock Exchange's fund flow reports at the start of each month, ETFs have taken off in a major way here in the United States. In the years following the initial launch of the first ETF, SPDR S&P 500 ETF(SPY_), the number of instruments available to U.S. investors has ballooned to over 1,000, and total assets have ascended above the $1 trillion mark. Around the world, the number of ETFs products has surpassed 2,000
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Source: The Street
CFTC Seeks Public Comment on Request from ICE Clear Credit for Order Permitting Portfolio Margining of Swaps and Security-Based Swaps in a Customer Account
November 22, 2011--The Commodity Futures Trading Commission (Commission) is requesting public comment on a petition submitted by ICE Clear Credit LLC (ICC) for an order pursuant to Section 4d(f) of the Commodity Exchange Act (Act).
The petition requests an order that would set forth terms and conditions under which ICC and its clearing members that are dually registered as futures commission merchants and securities broker-dealers would be permitted to (1) commingle in an account subject to Section 4d(f) of the Act (a cleared swaps customer account) positions in swaps and security-based swaps and related customer money, securities and property; and (2) portfolio margin the swaps and security-based swaps held in the cleared swaps customer account.
Source: CFTC.gov
Minutes of the Federal Open Market Committee
November 22, 2011--The Federal Reserve Board and the Federal Open Market Committee on Tuesday released the attached minutes of the Committee meeting held on November 1-2, 2011. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the November 1-2, 2011 meeting is also included as an addendum to these minutes.
The minutes for each regularly scheduled meeting of the Committee ordinarily are made available three weeks after the day of the policy decision and subsequently are published in the Board's Annual Report. Summaries of economic projections are released on an approximately quarterly schedule. The descriptions of economic and financial conditions contained in these minutes and in the Summary of Economic Projections are based solely on the information that was available to the Committee at the time of the meeting.
view the Minutes of the Federal Open Market Committee
Source: FBR
Global X files with the SEC
November 22, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for the
Global X NASDAQ 500 ETF
NASDAQ: QQQV, the
Global X NASDAQ 400 Mid Cap ETF
NASDAQ: QQQM
Global X NASDAQ 100 Global Technology Index ETF
NASDAQ: QQQT
view filing
Source: SEC.gov
Van Eck files with the SEC
November 21, 2011--Van Eck has filed a psot-effective amendment no. 528, registration statement with the SEC. This filing soley applies to the Market Vectors Biotech ETF, Market Vectors Bank and Brokerage ETF, Market Vectors Oil Services ETF, Market Vectors Pharmaceutical ETF,
Market Vectors Retail ETF and Market Vectors Semiconductor ETF.
view filing
Source: SEC.gov
