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Thomson Reuters-U.S. Fund-Flows Weekly Report: Funds Experience Overall Net Inflows for the Volatile Week
February 9, 2018--Thomson Reuters Lipper's fund asset groups (including both mutual funds and ETFs) took in net-positive flows of $10.7 billion for the fund-flows week ended Wednesday, February 7.
In what appeared to be a flight to safety, net inflows into money market funds (+$30.8 billion), taxable bond funds (+$3.1 billion), and municipal bond funds (+$675 million) offset the net outflows from equity funds (-$23.9 billion).
Market Overview
In a volatile week of trading the Dow Jones Industrial Average and the S&P 500 Index both gave up the lion's share of their respective year-to-date increases. The S&P 500 lost 5.03% and the Dow retreated 4.80% to reduce their gains for 2018 to 0.30% and 0.70%, respectively.
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Source: Thomson Reuters
Canadian digital currency exchange Coinsquare closes record $30 million investment
February 8, 2018--Canada's most secure digital currency platform set to lead industry in 2018.
goNumerical Ltd. (d.b.a. Coinsquare), one of Canada's leading and most secure digital currency exchanges, announced today that it has closed a fully marketed equity financing led by Canaccord Genuity Corp. for gross proceeds of approximately $30 million.
In just over four months Coinsquare has raised a total of $47.3 million, at equity valuations increasing from $30 million to $430 million. The most recent round of funding will be used to fuel a global growth plan and diversification strategy focused on making the platform even more responsive to mainstream customers' needs.
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Source: Coinsquare
Franklin Templeton Adds Four Passive ETFs to Franklin LibertyShares Suite
February 8, 2018--Franklin Templeton Investments today announced the addition of four new passive ETFs to its Franklin LibertyShares(R) lineup-Franklin FTSE India ETF (FLIN), Franklin FTSE Russia ETF (FLRU), Franklin FTSE Asia ex Japan ETF (FLAX) and Franklin FTSE Switzerland ETF (FLSW)-expanding its country and regional passive ETF suite to now include 20 funds.
"Our suite of passive country-and region-specific ETFs has been well received in the marketplace, as clients look for low-cost vehicles that can be used to access different exposures for their portfolios or solutions capabilities," said Patrick O'Connor, head of Global ETFs at Franklin Templeton Investments."
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Source: Franklin Templeton Investments
Wheat futures fall from highest levels since August
February 8, 2018--Wheat futures fell Thursday after settling a day earlier at their highest since August.
Prices declined "in reaction to historically high global wheat stocks," said Sal Gilbertie, president and chief investment officer at Teucrium Trading LLC. In a monthly report, the U.S. Department of Agriculture on Thursday lowered its forecast on global wheat ending stocks for the 2017/2018 crop year by 1.9 million tons, but said they "remain significantly higher than a year ago."
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Source: Market Watch
The First US Based Marijuana ETF Celebrates 30 Day Success and a New NYSE Ticker
February 8, 2018--As of today's market open the ETFMG Alternative Harvest ETF has evolved its NYSE ticker by dropping the "X" to go from the previous MJX to the simpler MJ. This change came about as a response to market feedback.
Since its first day of trading on December 26, 2017, the ETFMG Alternative Harvest ETF has seen rapid market adoption and strong asset growth. Just 30 days after the fund began trading the AUM grew from $5.7 Million to $417 Million1.
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Source: ETF Managers Group (ETFMG)
NYSE Announces April 30 Launch of NYSE National; Expands Customer Choice with Taker-Maker Market Model
February 8, 2018--The New York Stock Exchange (NYSE), part of Intercontinental Exchange (NYSE:ICE), today announced that NYSE National, an electronic equities exchange, plans to commence trading on Monday, April 30, 2018.
As previously announced, the launch of NYSE National is part of the NYSE's strategy to deliver greater choice. As a trading-only venue, NYSE National will trade all U.S.-listed securities using a simple price/time priority allocation method similar to NYSE Arca, but it will be the NYSE's only venue to offer a "taker-maker' pricing model. This alternative fee structure will complement NYSE Group's other markets, and is intended to attract a new community of participants.
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Source: Intercontinental Exchange
Canadian securities regulators publish revised disclosure expectations for issuers with U.S. marijuana-related activities
February 8, 2018--The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-352 (Revised) Issuers with U.S. Marijuana-Related Activities, which sets out CSA staff's disclosure expectations for specific risks facing issuers with marijuana-related activities in the U.S.
"In light of political and regulatory uncertainty surrounding the treatment of U.S. marijuana-related activities, CSA staff have updated our disclosure expectations for issuers in this space," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers.
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Source: Canadian Securities Administrators
Canadian Blockchain ETF Launches Amid Bitcoin Volatility
February 7, 2018--Canada's first blockchain exchange-traded fund is shrugging off Bitcoin's bust and launched Wednesday as planned.
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Harvest Portfolios Group Inc.'s Blockchain Technologies ETF will began trading on the Toronto Stock Exchange under the symbol HBLK, amid extreme market volatility that saw the Dow swing more than 900 points in 25 minutes Tuesday after plummeting the most ever Monday
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Source: Bloomberg
Fed's Dudley eyes risks of betting on volatility
February 7, 2018--Financial products that bet on swings in equities and cryptocurrencies should be monitored to understand their risk to market stability, Federal Reserve Bank of New York President William Dudley said on Wednesday.
The comments came after BlackRock Inc, the world's biggest asset manager, urged more regulation of the so-called inverse volatility-linked products that were hammered during a stock meltdown that wiped out $4 trillion in market value worldwide on Monday.
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Source: Reuters
CBO-Monthly Budget Review for January 2018
February 7, 2018--The federal budget deficit was $174 billion for the first four months of fiscal year 2018, the Congressional Budget Office estimates, $16 billion more than the shortfall recorded during the same period last year.
Revenues and outlays were higher, by 4 percent and 5 percent, respectively, than during the first four months of fiscal year 2017.
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. If not for those shifts, outlays and the deficit through January would have been slightly larger, both this year and last year-but the year-to-year changes would not have been very different.
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Source: Congressional Budget Office (CBO)
