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CBO-Monthly Budget Review for May 2016
June 7, 2016--The federal budget deficit was $408 billion for the first eight months of fiscal year 2016, CBO estimates-$41 billion more than the shortfall recorded during the same period last year.
Outlays were 3 percent higher than they were at this time last year, and receipts were 2 percent higher.
Total Receipts: Up by 2 Percent in the First Eight Months of Fiscal Year 2016
Receipts totaled $2,137 billion during the first eight months of fiscal year 2016, CBO estimates-$33 billion more than they did during the same period last year.
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Source: Congressional Budget Office (CBO)
ESMA updates its EMIR Q&A
June 6, 2016--The European Securities and Markets Authority (ESMA) has issued today an update of its Q&A on practical questions regarding the European Markets Infrastructure Regulation (EMIR).
The updated Q&A includes new answers in relation to the clearing obligation, specifically about the self-categorisation that is necessary in order to establish which counterparties belong to which categories. The Q&A also provides clarifications on how counterparties should handle the situation where some of their counterparties have not provided the information on the category they belong to.
view more view the Q&A XVIII on EMIR implementation Franklin Templeton Investments Introduces LibertyShares with First Suite of Strategic Beta Exchange Traded Funds BMO elevates Wilson to global funds chief Moriarty on the SEC's Moves to Curb Leveraged ETFs in The Wall Street Journal SEC Moves to Curb Leveraged ETFs view more US job growth slowest since 2010 Chile's Pension Risk Rating Commission Approves Sale of Eight First Trust ETFs view more TrimTabs Asset Management Response to AdvisorShares Announcement of TTFS Sub-Advisor Change Convergex ETF Direct Platform Executes Over $1 Billion in Notional Value Since Its Inception view more
Source: ESMA
June 6, 2016--Franklin Templeton Investments today introduced LibertyShares, a new line of business, with the launch of its first suite of strategic beta exchange traded funds (ETFs), LibertyQ.
The suite includes three multi-factor core portfolio funds and one fund that focuses on stocks with high and persistent dividend income. Franklin Templeton's strategic beta ETFs use proprietary LibertyQ indices1, which are truly unique indices that have employed a research-driven approach in customizing their factor weightings.
June 6, 2016--Former F&C chief who joined Canadian group after 2014 takeover named CEO and CIO of its £160bn asset management unit.
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Source: Financial News
June 6, 2016--In 'SEC Moves to Curb Leveraged ETFs,' Corporate partner Kathleen Moriarty spoke with The Wall Street Journal about the recent news of the Securities and Exchange Commission (SEC) moving to limit a type of ETF allowing small investors to try to double, or even triple, the daily return of stock markets, or even bet on such swings in the opposite direction.
This potential restriction reflects the SEC's effort to rein in the riskiest activities of mutual funds, which were not a problem when these ETFs were initially approved during more upbeat economic times.
Investments can double or triple daily return of stock markets or bet on opposite moves
June 6, 2016--It is a rare case of regulator's remorse.
During a deregulatory heyday a decade ago, the Securities and Exchange Commission approved a type of exchange-traded fund allowing mom-and-pop investors to try to double or even triple the daily return of stock markets or bet on such swings in the opposite direction.
Source: Wall Street Journal
June 3, 2016--Worse than expected data deal blow to chance of rate rise at next Fed meetings.
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Source: FT.com
June 2, 2016--First Trust Advisors L.P. ("First Trust"), a global ETF provider and asset manager, announced that Chilean pension funds investment risk rating commission, La Comisión Clasificadora de Riesgo (CCR), has approved six additional First Trust ETFs for sale to Chilean pension funds, known as la Asociación de Administradoras de Fondos de Pensiones (AFPs).
The CCR previously approved two First Trust ETFs last year.
Source: First Trust Advisors
June 2, 2016---- AdvisorShares has announced its intention to replace TrimTabs Asset Management (TTAM), the investment adviser that conceived the TrimTabs Float Shrink ETF (NYSE Arca: TTFS), and the manager after which the fund was named and branded, thereby changing the ETF strategy.
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Source: TrimTabs Asset Management
June 2, 2016--Convergex, an agency-focused global brokerage and trading related services provider, announced today that its ETF Direct platform continues to experience significant volume growth with notional value surpassing $740 million during the month of May, an increase of approximately 140% over the previous month.
During the month of May, ETF shares traded increased over 175% from the month of April and the number of trades increased over 105%.
Source: Convergex
