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Bill Ackman to return $4bn to Spac investors if new vehicle is approved
August 20, 2021--Billionaire investor plans to pivot to new 'Sparc' model following lawsuit.
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Source: ft.com
Bearish Bets on Stocks Outside U.S. Emerge Timed to Fed Meeting
August 20, 2021--Some investors appear to be hedging against a slump in stocks outside the U.S. should the Federal Reserve announce plans to taper stimulus at its September meeting.
New bearish bets with Sept. 24 expiries are evident on the iShares MSCI EAFE (ticker EFA) and iShares MSCI Emerging Markets (ticker EEM) ETFs. The trades appear to be targeting the September FOMC meeting, according to Susquehanna derivatives strategist Chris Murphy.
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Source: bnnbloomberg.ca
Jay Clayton praises blockchain as he joins crypto platform Fireblocks
August 19, 2021--Former SEC chair is the latest former regulator to embrace the digital assets sector
Jay Clayton, the previous US Securities and Trade Fee chair, has mentioned he believes each within the promise of blockchain expertise and the necessity for extra regulation for the crypto sector.
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Source: FT.com
Stockpickers find new niche in thematic ETF strategies
August 19, 2021--Equity picking finds niches in the ETF market through its thematic strategies and more shops are choosing to avoid indexing new trend-following products.
Active ETFs represent a quarter of the 34 thematic ETFs that launched in the first seven months of the year
Less than 18% of ETFs focused on the 197 themes specified by FactSet are actively managed. However, active ETFs make up 26% of the 34 thematic ETFs launched in the United States by August 6, this year.
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Source: FT.com
John Hancock Investment Management launches actively managed Mortgage-Backed Securities ETF subadvised by Manulife Investment Management
August 19, 2021-- John Hancock Investment Management LLC today announced the availability of John Hancock Mortgage-Backed Securities ETF (ticker: JHMB). The exchange-traded fund (ETF) is subadvised by Manulife Investment Management (US) LLC, John Hancock Investment Management's affiliated asset manager.
It is the second actively managed fixed-income ETF launched by John Hancock Investment Management this year, following the launch of John Hancock Corporate Bond ETF (ticker: JHCB) in March 2021.
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Source: John Hancock Investment Management
'I don't think the market is ready for this': Cathie Wood outlines what short-sellers betting against her innovation strategy don't get
August 19, 2021--Cathie Wood is hitting back amid a record rise in short-sellers betting against her fund, including Michael Burry of "The Big Short" fame.
Burry initiated a $31 million put position in the Ark Invest Disruptive Innovation ETF, according to a recent 13f filing. That's on top of his $731 million put position in Tesla, which happens to be Wood's highest conviction stock and largest holding at Ark.
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Source: businessinsider.com
REX Shares Lists ETNs Including the Largest US Tech Companies in Two Easily Investable Products-The ETNs Track Solactive Indices
August 18, 2021--Changing the life of billions of people for the better is an accomplishment that is reserved only for few companies. In the past decade, four technology giants created a supergroup of companies that goes by the acronym FANG standing for Facebook, Amazon, Netflix, and Alphabet (formerly acknowledged as Google).
Undeniably, these four companies deserve the top spot, but other tech companies like Nvidia or Tesla hold a candle to these big four. US-based financial company REX Shares released two ETNs, the MicroSectors Solactive FANG & Innovation 3x Leveraged ETN (BULZ) and MicroSectors Solactive FANG & Innovation -3x Inverse Leveraged ETN (BERZ), tracking the Solactive FANG Innovation Index and including the largest thirty US-based technology stocks.
Not only are FANG companies enormous market drivers, but their performances are regarded by many as a proxy for the entire US economy.
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Source: Solactive AG
CME in $16bn bid for Chicago exchange rival Cboe
August 18, 2021-All-share deal would combine futures and equity options specialists
CME Group, the world's largest futures exchange operator, is in talks to acquire fellow Chicago exchange company Cboe Global Markets in a deal worth nearly $16bn.
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Source: ft.com
Federal Reserve issues FOMC statement-Minutes of the Federal Open Market Committee, July 27-28, 2021
August 18, 2021--The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen.
The sectors most adversely affected by the pandemic have shown improvement but have not fully recovered. Inflation has risen, largely reflecting transitory factors.
Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.
The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run.
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Source: federalreserve.gov
CME and Cboe Stock Respond to Media Report of Deal Talks
August 18, 2021--Exchange operator CME denies report that it made acquisition offer; Cboe shares jump 12% but finish the day lower.
Shares of exchange operators CME Group Inc. and Cboe Global Markets Inc. swung Wednesday following a media report that the two Chicago-based companies were discussing a merger.
CME immediately denied the report.
The Financial Times reported that CME had approached Cboe with a $16 billion acquisition offer.
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Source: wsj.com
