Americas ETP News
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Claymore files with the SEC
June 6, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for the Guggenheim ABC High Dividend ETF.
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Source: SEC.gov
XTF Capital Corp. Launches Canada's First Convertible Bond ETF-Canadian Convertible Liquid Universe ETF
June 6, 2011--- XTF Capital Corp., a First Asset Company, is pleased to announce the launch of Canada's first Convertible Bond ETF - Canadian Convertible Liquid Universe ETF (the "Convertible Bond XTF").
This will mark the fifth exchange-traded fund launched by XTF Capital this month. The Convertible Bond XTF will begin trading on the Toronto Stock Exchange ("TSX") on Tuesday, June 7, 2011 under the symbol CXF (for its Common Units) and CXF.A (for its Advisor Units).
A UNIQUE ETF FROM LARGEST MANAGER OF CONVERTIBLE BONDS
"The Convertible Bond XTF is unique to Canada," said Barry Gordon, President and CEO of XTF Capital Corp. and First Asset. "Our deep experience with convertible bonds puts XTF Capital Corp. in a position to properly assess the eligible universe and make the subtle decisions for inclusion or exclusion from the portfolio." Mr Gordon also noted that convertible bonds are not uniform in structure and have many different call and conversion features. He added that the Convertible Bond XTF follows a rules-based methodology of portfolio construction, but the Manager must have an override to include or exclude particular bonds in order to capture special situations.
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Source: XTF Capital
Official Dollarization as a Monetary Regime: Its Effects on El Salvador -IMF Working paper
June 6, 2011--This paper examines El Salvador’s transition to official dollarization by comparing aspects of this regime to the fixed exchange rate regime prevailing in the 1990s. Commercial bank interest rates are analyzed under an uncovered interest parity framework, and it is found that dollarization lowered rates by 4 to 5 percent by reducing currency risk.
This has generated net annual savings averaging ½ percent of GDP for the private sector and ¼ percent of GDP for the public sector (net of the losses from foregone seigniorage). Estimated Taylor rules show a strong positive association between Salvadoran output and U.S. Federal Reserve policy since dollarization, implying that this policy has served to stabilize economic activity more than it did under the peg and more than policy rates in Central American countries with independent monetary policy have done. Dollarization does not appear to have affected the transmission mechanism, as pass-through of monetary policy to commercial interest rates has been similar to pass-through under the peg and in the rest of Central America.
view the IMF Working paper-Official Dollarization as a Monetary Regime: Its Effects on El Salvador
Source: IMF
iShares files with the SEC
June 6, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares Floating Rate Note Fund.
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Source: SEC.gov
Pimco files with the SEC
June 6, 2011-Pimco has filed a post-effective amendment, registration statement with the SEC for the PIMCO Foreign Currency Strategy ETF.
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Source: SEC.gov
Morgan Stanley-US ETF Weekly Update
June 6, 2011--Weekly Flows: $713 Million Net Outflows
Launches: 2 New ETFs
Guggenheim Makes Changes on 2 ETFs
FaithShares to Close 4 ETFs
US-Listed ETFs: Estimated Flows by Market Segment
ETFs exhibited net outflows of $713 million last week; flows have been choppy past 8 weeks
US Small- & Micro-Cap ETFs (4% market share) posted the largest net outflows last week ($2.7 billion)
ETF assets stand at $1.1 trillion, up 8% YTD; combination of market appreciation and net new money
13-week flows were mostly positive among asset classes
$28.6 billion net inflows into ETFs over past 13 weeks (Fixed Income took in $10.2 billion)
We estimate ETFs have generated net inflows 14 out of 22 weeks YTD
US-Listed ETFs: Estimated Largest Flows by Individual ETF
SPDR S&P 500 ETF (SPY) rebounded last week, posting net inflows of $1.6 bln
Despite SPY’s positive flows last week, over the past 13 weeks it has posted net outflows of $4.5 bln, the most of any ETF
6 of the top 10 ETFs to post the largest net outflows last week were sponsored by Vanguard; with the
exception of Vanguard FTSE All-World ex-US ETF (VEU), we note last week’s net outflows were very similar
to the prior week’s net inflows for the other 5 ETFs
request report
Source: Morgan Stanley
Brazil encouraging foreign investment in agriculture
June 3, 2011--The agriculture minister of Brazil said they may start leasing farm land to foreigners to find a way around new legal restrictions on land sales and attract more foreign investment.
In the past, foreigners seeking to buy large plots of land were having trouble, after the attorney general’s office reinterpreted real estate law amid concern over property speculation by overseas investors.
But Brazil’s new president, Dilma Rousseff, is looking for ways to ease the restrictions on foreign investment in the farm sector. Rousseff wants to encourage productive foreign investment.
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Source: The sign post
CFTC.gov Commitments of Traders Reports Update
June 3, 2011--CFTC.gov Commitments of Traders Reports have been updated for the week of May 31, 2011 are now available.
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Source: CFTC.gov
BNY Mellon ADR Index Monthly Performance Review is Now Available
June 3, 2011--The BNY Mellon ADR Index Monthly Performance Review is now available.
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Source: BNY Mellon
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
June 3, 2011-Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Friday, June 3, 2011:
Harte Gold Corp. (TSXVN:HRT) will be removed from the index. The company will graduate to trade on TSX under the same ticker symbol.
Stans Energy Corp. (TSXVN:RUU) will trade under the new ticker symbol "HRE".
There is no change in the company name or CUSIP number and no consolidation of capital.
Source: Standard & Poor's
