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Minutes of the Federal Open Market Committee, September 25-26, 2018
October 17, 2018--Developments in Financial Markets and Open Market Operations
The manager of the System Open Market Account (SOMA) discussed U.S. and global financial developments. In global markets, strains in emerging market economies (EMEs) contributed to volatility in currency and equity markets over the period.
In addition, concerns about trade tensions between the United States and China were the focus of a great deal of attention among market participants. Such concerns led the Shanghai Composite index to drop as much as 8 percent at one point over the intermeeting period before recovering somewhat. The renminbi, however, was relatively stable, reportedly in part because investors believed that Chinese authorities were prepared to take measures to counter significant renminbi depreciation.
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Source: federalreserve.gov
Official Statistics: Forecasts for the UK economy: October 2018
October 17, 2018--Forecasts for the UK economy is a monthly comparison of independent forecasts.
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Source: HM Treasury
SEC Ruling Takes Aim at Stock-Exchange Profits
October 16, 2018--The Securities and Exchange Commission decision blocking higher fees for certain stock-market data casts doubt on a crucial and growing source of revenue that has helped exchanges make up for the declining income from trading.
In recent years, U.S. stock exchanges thought they had a guaranteed profit machine that could revive their sagging businesses: selling market data at ever-higher prices to a captive audience of Wall Street banks and traders.
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Source: Wall Street Journal
AdvisorShares Active ETF Market Share Update-Week Ending 10/12/2018
October 16, 2018--Actively managed ETFs lost $372 million in the wake of the recent market decline, which brought the total net assets to $65.8 billion.
JP Morgan and iShares led weekly AUM growth among sponsors with $169 million and $137 million gains, respectively. No fund launches or fund closures occurred last week, and the total number of actively managed ETFs remained at 238.*
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Source: AdvisorShares
Franklin Templeton Launches 3 Passive ETFs: Portfolio Products
October 15, 2018--Franklin Templeton Investments introduced three new passive exchange traded funds to its Franklin LibertyShares lineup-Franklin FTSE Saudi Arabia ETF (FLSA), Franklin FTSE South Africa ETF (FLZA) and Franklin FTSE Latin America ETF (FLLA).
All are linked to market-cap weighted foreign stock indexes and seek results that closely respond to those indexes before fees and expenses.
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Source: thinkadvisor.com
Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies
October 15, 2018--Fidelity Investments, which administers more than $7.2 trillion in client assets, announced a new and separate company called Fidelity Digital Asset Services on Monday.
The firm will handle custody for cryptocurrencies such as bitcoin and will execute trades on multiple exchanges for investors such as hedge funds and family offices.
Other crypto companies have debuted similar products, but Fidelity is the first Wall Street incumbent to officially provide cryptocurrency solutions such as custody.
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Source: CNBC.com
IMF-Western Hemisphere Region Outlook for Latin America and the Caribbean: An Uneven Recovery
October 12, 2018--Amid escalating trade tensions, tighter financial conditions, and volatile commodity markets, economic recovery in Latin America and the Caribbean (LAC) has both moderated and become more uneven. The recovery has slowed in some of the region's largest economies (Brazil and Mexico), even coming to a halt in the case of Argentina, as the impact of external headwinds has been amplified by country-specific vulnerabilities.
In a similar vein, higher oil prices coupled with increased political uncertainty have dampened the near-term outlook in several economies in Central America. There is still no end in sight to the economic and humanitarian crisis in Venezuela. Meanwhile, better terms of trade over the past year and improvements in consumer and business confidence have provided a fillip to growth prospects in some Andean economies, and activity is recovering in the Caribbean, reflecting the uptick in tourism owing to robust US and global growth.
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Source: WisdomTree
BNY Mellon DR Index Monthly Performance-September 2018
October 11, 2018--The BNY Mellon DR Index Monthly Performance for October 2018 report is now available.
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Source: BNY Mellon
China’s $3 Billion Bond Sale Defies Global Markets Slump
October 11, 2018--China on Thursday sold $3 billion in U.S. dollar bonds, raising money as cheaply as some of America's strongest companies at a time of heightened tensions with its largest trading partner and in the midst of a global markets selloff.
The successful sale shows foreign investors remain confident in China's ability to repay debt, even though economic growth is slowing and the country is trying to keep a lid on corporate-debt levels.
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Source: Wall Street Journal
