Americas ETP News
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Virtu makes $1.3 billion unsolicited offer to buy KCG
March 16, 2017--Virtu Financial has made an unsolicited offer to buy its rival, KCG Holdings, in a deal that could create one of the largest global high-frequency trading firms.
KCG confirmed receipt of the offer to purchase all outstanding shares for KCG's common stock for $18.50-$20.00 per share, which would amount to around $1.3 billion.
Both firms have seen revenues drop across trading and market making business units due to low volatility and decreased trading volumes
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Source: thetradenews.com
Redwood Asset Management Expands Income Solutions with Launch of the Redwood U.S. Preferred Share Fund and ETF units of the Redwood Floating Rate Preferred Fund
March 15, 2017--Redwood Asset Management Inc. ("Redwood") is pleased to announce the listing of two income-generating preferred share funds, the Redwood U.S. Preferred Share Fund (NEO:RPU and RPU.B) and the Redwood Floating Rate Preferred Fund (NEO:RPS). Redwood has completed the initial public offering of ETF units of the Funds.
The ETF units of the Redwood U.S. Preferred Share Fund and the Redwood Floating Rate Preferred Fund will commence trading on the NEO Stock Exchange today under the ticker symbols RPU (currency hedged), RPU.B (non-currency hedged) and RPS, respectively.
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Source: Redwood Asset Management Inc
Federal Reserve Board and Federal Open Market Committee release economic projections from the March 14-15 FOMC meeting
March 15, 2017--The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the March 14-15 meeting.
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Source: federalreserve.gov
Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The March 14-15 FOMC Meeting
March 15, 2016--Information received since the Federal Open Market Committee met in February
indicates that the labor market has continued to strengthen and that economic activity has continued to expand at a moderate pace.
Job gains remained solid and the unemployment rate
was little changed in recent months
Household spending has continued to rise moderately while business fixed investment appears to have firmed somewhat. Inflation has increased
in recent quarters, moving close to the Committee's 2 percent longer-run objective; excluding energy and food prices, inflation was little changed and continued to run somewhat below 2 percent.
Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.
Consistent with its statutory mandate, the Committee seeks to foster maximum
employment and price s
tability. The Committee expects that, with gradual adjustments in the
stance of monetary policy, economic activity will expand at a moderate pace, labor market conditions will strengthen somewhat further, and inflation will stabilize around 2 percent over
the medium term. Near-term risks to the economic outlook appear roughly balanced. The Committee continues to closely monitor inflation indicators and global economic and financial
developments.
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Source: federalreserve.gov
MSCI denies report it rejected S&P takeover bid
March 15, 2017--Shares of MSCI jumped Wednesday after a report from Evening Standard, citing sources, said the index provider rejected a takeover offer from S&P Global.
The S&P Dow Jones Indices parent had offered to buy MSCI for $120 a share, the London newspaper said, citing people familiar with the matter.
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Source: CNBC.com
CFTC.gov Swaps Report Update
March 15, 2017-- CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Deeper Integration Vital for Growth in Latin America and the Caribbean, World Bank Report Says
March 14, 2017--A deeper economic integration among Latin American and Caribbean countries will make the region more competitive in international markets and boost long-term growth, according to a new World Bank report.
Better Neighbors: Toward a Renewal of Economic Integration in Latin America, argues that a renewed integration strategy that takes advantage of the complementarities between regional and global economic integration can contribute to growth with stability. This is particularly relevant for a region that is just coming out of two years of recession.
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Source: World Bank
FT.com Bitcoin ETF: quick silver
March 14, 2017--The idea of moving the cryptocurrency into the mainstream is far-fetched.
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Source: FT.com
Invesco announces changes to PowerShares municipal bond ETF
March 13, 2017--Invesco PowerShares has announced an upcoming adjustment to the name, underlying index, investment objective and strategy for one of its US municipal bond ETFs.
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Source: etfstrategy.co.uk
AdvisorShares This Week in Active ETFs: The Best Week of the Year!
March 13, 2017--Weekly Market Review-Highlights of the Prior week of March 6 to March 10, 2017
Macro
The title for this week's update refers to the start of the NCAA basketball tournament with the First Four games Tuesday and Wednesday and then the full slates of games Thursday and
Friday. Enjoy the games!
Moving on to markets, by now you know the jobs data on Friday was very strong (although Barron's did try to rain on the parade with seasonal adjustments), showing 235,000 new jobs in February with the headline unemployment rate at 4.7%.
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Source: AdvisorShares
