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Treasury International Capital Data For July
September 16, 2016--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for July 2016. The next release, which will report on data for August 2016, is scheduled for October 18, 2016.
The sum total in July of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $140.6 billion. Of this, net foreign private inflows were $162.7 billion, and net foreign official outflows were $22.1 billion.
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Source: treasury.gov
Renaissance Capital-US IPO Week Ahead: Year's most active week with 9 IPOs
September 16, 2016--Analyst IPO Market Commentary
Nine deals are on the IPO calendar for the week ahead, aiming to raise a combined $1.2 billion. Set to be the most active week of 2016, the wave of deals counts three founder-led high-growth software companies and a telecom equipment provider.
Other deals include two consumer brands, two biotechs and one bank.
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Source: Renaissance Capital
Exchange Traded Concepts to Close and Liquidate the CrowdInvest Wisdom ETF
September 16, 2016--After careful consideration, the Board of Trustees of Exchange Traded Concepts Trust has determined to close and liquidate the CrowdInvest Wisdom ETF (NYSE Arca: WIZE) (the "Fund").
Exchange Traded Concepts, LLC ("ETC") serves as the investment adviser and Vident Investment Advisory, LLC ("Vident") serves as the sub-adviser to the Fund.
The Fund will be closed to orders for new creation units as of September 19, 2016, and the last day of trading of the Fund's shares on the NYSE Arca will be September 27, 2016.
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Source: Exchange Traded Concepts
Unit Investment Trust Rollover Review
September 16, 2016--FINRA is conducting an inquiry with respect to Unit Investment Trust ("UIT") rollovers. In connection with our inquiry, we request that the firm provide the following documents and information for the period from January 1, 2014 through June 30, 2016 (the "Review Period") to FINRA by no later than October 10, 2016.
The firm's Written Supervisory Procedures ("WSPs") with respect to UITs in effect during the Review Period.
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Source: Finra
Harvard Business School Report: Pessimism about the Future of the U.S. Economy Deepens; Political Dysfunction the Greatest Barrier to Strengthening U.S. Competitiveness
September 15, 2016--As political discourse confuses national discussion and candidates fail to put forth credible plans to improve U.S. economic growth and shared prosperity, Harvard's Michael E. Porter, Jan W. Rivkin, and Mihir A. Desai call for U.S. economic strategy involving business and government
5th annual U.S. competitiveness assessment polls business leaders and general public on federal policy changes that could improve competitiveness, such as corporate tax reform and immigration reform
view the PROBLEMS UNSOLVED AND A NATION DIVIDED-The State of U.S. Competitiveness 2016 Including findings from Harvard Business School's 2016 surveys on U.S. competitiveness
Source: Harvard Business School
J.P. Morgan Asset Management Launches First Fixed Income ETF: JPHY
strategy takes advantage of potential opportunities in the high yield market
September 15, 2016--J.P. Morgan Asset Management announced that the JPMorgan Disciplined High Yield (JPHY) actively-managed ETF officially launched today for trading
However, the high yield universe includes segments where risk has not been rewarded with commensurate return. JPHY provides high yield exposure by systematically excluding securities that exhibit what may be considered unattractive risk-reward profiles.
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Source: J.P. Morgan Funds
Nuveen Announces NuShares Enhanced Yield U.S. Aggregate Bond ETF; First Product Launched on Nuveens NuShares ETF Platform
September 15, 2016--Nuveen, an operating division of TIAA Global Asset Management, today announced that the NuShares Enhanced Yield U.S. Aggregate Bond ETF is now trading on the NYSE Arca under the symbol NUAG.
This new exchanged-traded fund (ETF), the first product to be launched on Nuveen's NuShares ETF platform, seeks to offer enhanced yield relative to the broad, investment-grade fixed income market with comparable risk and credit quality.
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Source: newson6.com
H.R. 1550, Financial Stability Oversight Council Improvement Act of 2015
September 15, 2016--H.R. 1550 would require the Financial Stability Oversight Council (FSOC) to change the procedures by which it designates certain companies as systemically important financial institutions (SIFIs).
Those procedural changes would apply only to SIFIs that are not banking institutions and would affect the regulatory activities of other federal financial regulators including the Board of Governors of the Federal Reserve.
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Source: Congressional Budget Office (CBO)
IMF Working paper-Highways to Heaven: Infrastructure Determinants and Trends in Latin America and the Caribbean
September 15, 2016--Summary: Inadequate infrastructure has been widely viewed as a principal barrier to growth and development in Latin America and the Caribbean. This paper provides a comprehensive overview of infrastructure in the region and highlights key areas in which infrastructure networks can be enhanced.
The public and private sectors play complementary roles in improving the infrastructure network. Therefore, it is critical to strengthen public investment management processes as well as the regulatory framework, including to ensure an appropriate mix of financing and funding for projects and to address environmental concerns.
KCG Completes Acquisition of Neonet
September 15, 2016--KCG Holdings, Inc. (NYSE: KCG) ("KCG") today announced that it has completed the acquisition of Neonet Securities AB ("Neonet"), an independent agency broker and execution specialist based in Stockholm,Sweden.
The Neonet business, which will operate as a subsidiary of KCG and be renamed KCG Neonet, will continue to be based in Stockholm and led by CEO Tim Wildenberg.
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