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Minutes of the Federal Open Market Committee, January 25-26, 2022
February 16, 2022--The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on January 25-26, 2022.
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Source: federalreserve.gov
ETF Launches Are Already on Track to Top Last Year's Record Pace
February 14, 2022--50 funds launched this year, up from 38 at this point in 2021
Pent-up demand, rise in active strategies are driving growth
Issuance of new exchange-traded funds are piling up this year and threatening to overtake 2021's historic boom as firms bet big on continued growth.
According to Bloomberg data, 50 new funds have launched in 2022, compared with 38 at this point last year. There's also been an uptick in the total number of actively managed strategies this year to 33 from 27, reflecting the growing preference for ETFs over mutual funds, said EQM Capital Chief Executive Officer Jane Edmondson.
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Source: bloomberg.com
Median Inflation Gauge Offers Better Read on Price Trends
February 14, 2022--Using an alternative measure may help separate the signal from the noise.
Economists debating inflation in the United States are confronting a difficult challenge: stripping out volatile price changes to gauge underlying pressures.
The most common measure of underlying or "core" inflation, which excludes volatile food and energy prices, has been hard to read during the pandemic. The traditional measure came into wider use in the 1970s, when volatile energy prices caused inflation spikes.
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Source: IMF
US stocks fall from grace with ETF investors
February 14, 2022--Flows to US equity ETFs fell from 69% of the global total in December to just 11.2% in January.
The US stock market fell dramatically out of favour with exchange traded fund investors in January, mirroring a similar fall from grace for US fixed income markets.
In 2021, US equity funds accounted for 55 per cent of the $1.07tn that flowed into equity ETFs, a figure that rose to 69 per cent in December.
Yet in January this plummeted to just 11.2 per cent of the net $66.2bn that was pumped into the asset class.
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Source: ft.com
Harbor Capital Advisors Launches All-Weather Inflation Focus ETF
February 10, 2022--Harbor Capital Advisors, Inc. ("Harbor"), a premier multi-manager investment firm offering access to innovative and specialized expertise across a range of investment strategies and vehicles, today announced the launch of the Harbor All-Weather Inflation Focus ETF (HGER).
The fully transparent ETF will seek to track the performance of the Quantix Inflation Index (the "Index") before fees and expenses. The Index was developed by Quantix Commodities LP ("Quantix") and is owned by Quantix Commodities Indices, LLC.
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Source: Harbor
Amplify ETFs Announces the Amplify Emerging Market FinTech ETF (EMFQ)
February 10, 2022--AEMFQ replaces the Amplify International Online Retail ETF (XBUY)
Amplify ETFs announces its newly appointed fund, the Amplify Emerging Markets FinTech ETF (NYSE: EMFQ), an index-based ETF investing in emerging market and frontier market companies that derive significant revenue from financial technology (FinTech) and technology-enabled financial applications.
EMFQ seeks investment results that generally correspond to the price and yield of the EQM Emerging Markets FinTech Index. We believe fintech is thriving in emerging and frontier markets, disrupting traditional financial service and banking models. Across the financial services industry, FinTech innovations are directly addressing the needs of previously unbanked and underserved populations transitioning to consumer-driven economies.
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Source: Amplify ETFs
SEC Proposes to Enhance Private Fund Investor Protection
February 9, 2022-- The Securities and Exchange Commission today voted to propose new rules and amendments under the Investment Advisers Act of 1940 (Advisers Act) to enhance the regulation of private fund advisers and to protect private fund investors by increasing transparency, competition, and efficiency in the $18-trillion marketplace.
"Private fund advisers, through the funds they manage, touch so much of our economy. Thus, it's worth asking whether we can promote more efficiency, competition, and transparency in this field," said SEC Chair Gary Gensler. "I support this proposal because, if adopted, it would help investors in private funds on the one hand, and companies raising capital from these funds on the other."
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Source: SEC.gov
SEC Issues Proposal to Reduce Risks in Clearance and Settlement
February 9, 2022--The Securities and Exchange Commission today voted to propose rule changes to reduce risks in the clearance and settlement of securities, including by shortening the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one business day after the trade date (T+1).
The proposed changes are designed to reduce the credit, market, and liquidity risks in securities transactions faced by market participants and U.S. investors.
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Source: SEC.gov
CBO-Monthly Budget Review: January 2022
February 8, 2022--Summary
The federal budget deficit was $259 billion in the first four months of fiscal year 2022, the Congressional Budget Office estimates. That amount is less than deficits recorded for the same period in the two prior years.
It is roughly one-third of the deficit recorded during the same period last year ($736 billion) and about two-thirds of the shortfall recorded for the same period two years ago ($389 billion), right before the start of the coronavirus pandemic. Revenues were $331 billion (or 28 percent) higher and outlays were $146 billion (or 8 percent) lower from October through January 2022 than during the same period last fiscal year.
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Source: CBO (congressional Budget Office)
Corporate lobbying ETF seeks to profit from influencing politician
February 7, 2022--Asset manager Strategas argues successful efforts to sway decision makers deliver earnings advantages for companies
New York-based Strategas Asset Management has unveiled an exchange traded fund designed to tap into companies' efforts to increase their...
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Source: FT.com
