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Millennial heirs to change investment landscape
September 20, 2018--A generational shift towards impact investing will test the financial industry's mettle
A couple of years ago US Trust, a private bank, did some fascinating number-crunching on the nature of American wealth. It estimated $12tn..
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Source: FT.com
CBO-The 2018 Long-Term Budget Outlook at a Glance
September 20, 2018--In June, CBO released The 2018 Long-Term Budget Outlook, the latest installment of an annual report describing the agency's projections of federal spending, revenues, deficits, and debt over the next 30 years. This week, CBO is publishing two blog posts to share key excerpts from the report.
Today's post presents some of the report's key takeaways.
In CBO's projections, the federal budget deficit, relative to the size of the economy, grows substantially over the next several years, stabilizes for a few years, and then grows again over the rest of the 30-year period, leading to federal debt held by the public that would approach 100 percent of gross domestic product (GDP) by the end of the next decade and 152 percent by 2048—compared with 78 percent now.
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Source: Congressional Budget Office (CBO)
Five State Street ETFs to track Solactive's Global Benchmark Indices
September 19, 2018--Solactive is pleased to announce that State Street Global Advisors as one of the leading asset managers globally is starting to use Solactive indices as underlying for five members of the SPDR ETF family. The indices tracked are part of our newly launched Global Benchmark Series
Each index covers the top 85% of the corresponding equity market in terms of free float market capitalization. The consideration of strict liquidity criteria ensures the tradability of the assets linked to each benchmark index. The indices are rebalanced on a semi-annual basis in May and November with additional IPO reviews in February and August. Buffer rules are applied to prevent undesired high index turnover. The indices are weighted by free-float market capitalization and are calculated in US-Dollar.
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Source: Solactive AG
Thomson Reuters-Fund Investors and APs Embrace Fixed Income Funds and ETFs in August
September 19, 2018--For the second consecutive month investors were net purchasers of mutual fund assets, injecting $7.5 billion into the conventional funds business (excluding ETFs) for August.
Also for the second month in a row, money market funds witnessed net inflows, taking in $28.6 billion for August. Despite Federal Reserve Chair Powell’s outlining the Fed’s plans to hike its key lending rate, for the sixth month running the fixed income funds macro-group also witnessed net inflows, taking in $11.7 billion for August. However, for the fourth consecutive month stock & mixed-asset funds witnessed net outflows (-$32.8 billion for August).
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Source: Thomson Reuters
Treasury International Capital Data for July
September 18, 2018--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for July 2018. The next release, which will report on data for August 2018, is scheduled for October 16, 2018.
The sum total in July of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $52.2 billion.
Of this, net foreign private inflows were $71.6 billion, and net foreign official outflows were $19.4 billion.
Foreign residents increased their holdings of long-term U.S. securities in July; net purchases were $40.6 billion. Net purchases by private foreign investors were $54.4 billion, while net sales by foreign official institutions were $13.8 billion.
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Source: Treasury.gov
A.G. Underwood Issues Virtual Markets Integrity Report, Finding Many Platforms Vulnerable To Abusive Trading, Conflicts Of Interest, And Other Consumer Risks
September 17, 2018--Report and Interactive Website Outline What Cryptocurrency Platforms are Doing-and Not Doing-to Protect Retail Customers from Theft, Fraud, and Abuse
Attorney General Barbara D. Underwood today announced the results of the Virtual Markets Integrity Initiative, a fact-finding inquiry into the policies and practices of platforms used by consumers to trade virtual or "crypto" currencies like bitcoin and ether.
A href="https://ag.ny.gov/sites/default/files/vmii_report.pdf" TARGET="_blank">view the Virtual Markets Integrity Report
Source: Office of the New York Attorney General
AdvisorShares Active ETF Market Share Update-Week Ending 9/14/2018
September 17, 2018--Actively managed ETFs gained $678 million last week to reach $64.3 billion in total net assets.
First Trust and ARK Investment led weekly AUM growth among sponsors with $157 million and $110 million gains respectively. There were two fund closures and no fund launches, which lowered the total number of actively managed ETFs to 236.
PIMCO and iShares led weekly AUM growth among sponsors with $368 million and $43 million gains respectively.
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Source: AdvisorShares
U.S. Weekly FundFlows Insight Report: Fund Investors Take a Risk-Off Approach for the Week
September 13, 2018--For the second week in three investors were net redeemers of fund assets (including those of conventional funds and ETFs), withdrawing $3.3 billion net for Lipper's fund-flows week ended September 12, 2018. Fund investors padded the coffers of taxable fixed income funds (+$2.4 billion) but were net redeemers of money market funds (-$3.8 billion), equity funds (-$1.8 billion), and municipal bond funds (-$136 million).
Market Wrap-Up
Investors took their collective foot off the pedal for the fund-flows week as they continued to focus on escalating trade-war rhetoric between the U.S. and China and the large currency declines for Argentina and Turkey. The Dow Jones Industrial Average Price Only Index (+0.09%) and the S&P 500 Price Only Index (+0.01%) were the only U.S. broad-based indices posting plus-side returns for the flows week.
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Source: Thomson Reuters
American Century Investments(R) Launches Three Additional Exchange Traded Funds
September 12, 2018--American Century Investments today announced the further buildout of its suite of Exchange Traded Funds (ETFs). American Century(R) Quality Diversified International ETF (QINT), American Century(R) STOXX(R) U.S. Quality Growth ETF (QGRO) and American Century(R) Diversified Municipal Bond ETF (TAXF) are now available to clients and investors and are listed on the NYSE ARCA. STOXX(R) is a registered trademark of STOXX Ltd.
"We are building a line-up of ETFs that apply our unique insights to solve common investment problems and help investors achieve their goals," said Edward Rosenberg, senior vice president and head of ETFs for American Century Investments.
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Source: American Century Proprietary Holdings Inc.
CBO-Monthly Budget Review for August 2018
September 10, 2018--The federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, the Congressional Budget Office estimates, $222 billion more than the shortfall recorded during the same period last year. Revenues were 1 percent higher than in the same period in fiscal year 2017, but outlays rose by about 7 percent.
As was the case last year, this year's outlays were affected by shifts in the timing of certain payments that otherwise would have been due on a weekend or a holiday. If not for those shifts, the increase in the deficit would have been smaller: The deficit for the 11-month period would have been $154 billion larger than last year's amount.
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Source: Congressional Budget Office (CBO)
