Americas ETP News
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EURO STOXX 50 Licensed To U.S. Based Direxion
July 12, 2017--STOXX Ltd., the operator of Deutsche Boerse Group's index business and a global provider of innovative and tradable index concepts, today announced that the EURO STOXX 50 has been licensed to Direxion Funds to underlie a 3x Leveraged ETF.
"We are delighted that Direxion has chosen our European flagship index to underlie an exchange-traded fund in the U.S." said Matteo Andreetto, chief executive officer, STOXX Limited. "The EURO STOXX 50 Index remains Europe's most favored and well-known blue chip equity index. Its liquidity, transparency and rules based methodology makes the index an ideal tool to participate in the performance of the Eurozone equity markets."
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Source: STOXX
Canada's rate rise is latest shift in global central bank policy
July 12, 2017--Rate rise boosts the Canadian currency as central bank positions for inflation uptick.
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Source: FT.com
Semiannual Monetary Policy Report to the Congress
July 12, 2017--Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve's semiannual Monetary Policy Report to the Congress.
In my remarks today I will briefly discuss the current economic situation and outlook before turning to monetary policy.
Current Economic Situation and Outlook
Since my appearance before this committee in February, the labor market has continued to strengthen. Job gains have averaged 180,000 per month so far this year, down only slightly from the average in 2016 and still well above the pace we estimate would be sufficient, on average, to provide jobs for new entrants to the labor force.
view the Monetary Policy Report submitted to the Congress on July 7, 2017, pursuant to section 2B of the Federal Reserve Act
Source: federalreserve.gov
Yellen Says Economy Is Robust, but Adds That Fed Will Stay Flexible
July 12, 2017-- Janet L. Yellen, the Federal Reserve chairwoman, delivered an upbeat message on the state of the American economy to Congress on Wednesday, highlighting the strength of job growth and indicating that the Fed remained on course to begin reducing its bond holdings in the fall.
Ms. Yellen added, however, that the Fed was paying close attention to the recent weakness of inflation. While emphasizing that she expected prices to start rising more quickly, she said persistent weakness could lead the Fed to raise interest rates more slowly.
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Source: NY Times
Investing Legend Burton Malkiel Joins the Toroso ETF Industry Index Committee
July 12, 2017--Author of "A Random Walk Down Wall Street" brings wealth of experience to the team overseeing the only benchmark for the fast-growing ETF industry
Burton Malkiel, the legendary Princeton professor and author of the seminal best-selling book "A Random Walk Down Street," has joined the Index Committee for the Toroso ETF Industry Index ("TETF.Index"), it was announced today.
"In the years since I first wrote 'Random Walk' the asset management industry has undergone nothing short of a sea change, marked by the emergence and increasing dominance of index-based investment approaches," said Dr. Malkiel.
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Source: Toroso Investments
IndexIQ Lowers Fees For Its Suite Of 50 Percent Currency Hedged International Equity ETFs
July 12, 2017--HFXI expense ratio lowered by almost half; HFXE & HFXJ lowered by more than a third
IndexIQ, a leading provider of innovative investment solutions, today announced that it is lowering the total expense ratio (TER) for its suite of 50 percent currency hedged international equity ETFs, as of July 12, 2017.
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Source: IndexIQ
Horizons ETFs Management (US) LLC Announces Successful Reorganization of Horizons S&P 500(R) Covered Call ETF
July 11, 2017--Today, Horizons ETFs Management (US) LLC (the "Firm") announced that the Horizons S&P 500(R) Covered Call ETF (the "Fund") has officially been reorganized as a series of the Horizons ETF Trust I.
The Fund will maintain its listing on NYSE Arca under the ticker symbol HSPX.
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Source: Horizons ETFs Group
Solactive adds some grey hair to the management team
July 11, 2017--Entering a new chapter of growth with new key hires and the
establishment of the first overseas office
Award-winning Solactive is delighted to
announce three new key appointments to its management team and the establishment of the first overseas office in Toronto, in
addition to the main location in Frankfurt. The new hires include Bernd Henseler as Head of Americas,
Stephen Chew as Head of Platform Management and Timo Pfeiffer
as Head of Research & Business Development.
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Source: solactive.com
CME Group Announces First Trades After the Return of the Russell 2000 Index Suite of Products
July 11, 2017--CME Group, the world's leading and most diverse derivatives marketplace, today announced the successful launch of futures and options based on the Russell 2000(R)Index.
The total volume through the first trading day was 2,918 contracts across futures, options and BTIC from 76 market participants. Open interest reached 712 as of July 10.
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Source: CME Group
IMF Working paper-A License to Issue (Anywhere): Patterns and Drivers of Corporate Bonds in Latin America
July 11, 2017--Summary:
This paper overviews patterns in bond issuance in local and external markets by firms in six large Latin American countries.
Data suggest that despite rising issuance, local markets remain small and shallow in several countries. Nevertheless, since greater funding is available to many firms in both markets, we investigate the factors that may explain the firm's choice on where to issue a bond. Using an unbalanced panel of firm and market-level indicators for years 1995-2015, we control for variables representing several theories of capital structure, and the results show that firm characteristics such as size and liquidity increase the likelihood of firms to issue externally. With respect to market characteristics, the market completeness hypothesis generates the most support, where market scale and depth are most important for the issuer's choice of the market, suggesting that local markets will have to become deeper to draw more firms and investment.
