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Minutes of the Federal Open Market Committee, September 16-17, 2015
October 8, 2015--The Federal Reserve Board and the Federal Open Market Committee on Thursday released the attached minutes of the Committee meeting held on September 16-17, 2015.
A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.
view the Minutes of the Federal Open Market Committee, September 16-17, 2015
Source: federalreserve.gov
CBO-Monthly Budget Review for September 2015
October 7, 2015--The federal government ran a budget deficit of $435 billion fiscal year 2015, CBO estimates-$48 billion less than the shortfall recorded in fiscal year 2014, and the smallest deficit recorded since 2007.
Relative to the size of the economy, that deficit-at an estimated 2.4 percent of gross domestic product(GDP)-was slightly below the average experienced over the past 50 years, and 2015 was the sixth consecutive year in which the deficit declined as a percentage of GDP since peaking at 9.8 percent in 2009. By CBO's estimate, revenues were about 8 percent higher and outlays were about 5 percent higher in 2015 than they were in the previous fiscal year.
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Source: Congressional Budget Office (CBO)
Vix index reflects confidence in stocks
October 6, 2015--Wall Street's "fear gauge" is trading below its long-term average for the first time in more the six weeks as investors regain confidence in US
stocks after volatile trading over the past two months.
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Source: FT.com
Bitcoin Exchange Gemini Approved for Launch in New York
October 5, 2015-Gemini, the much-anticipated bitcoin exchange led by entrepreneurs and investors Cameron and Tyler Winklevoss, has received approval from the New York
State Department of Financial Services to begin serving US customers in 26 states as well as Washington, DC.
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Source: coindesk.com
From Bad To Worse: Brazilian ETFs Begin To Close
October 4, 2015--There is no denying the it has been hard to convince investors to purchase Latin American ETFs over the past few months, let alone Brazilian ETFs, due to constant underperformance, commodity price falls and fears over China.
With the Brazilian economy already in turmoil-including economic stagnation, social unrest and record disapproval rates for the incumbent President Dilma Rousseff-the Latin American giant is about to be dealt another blow: the liquidation of two ETFs: The Global X Brazil Financials ETF (BRAF) and The EGShares Brazil Infrastructure ETF (BRXX).
Following the trend of the MSCI Brazil Index, both the BRAF and BRXX have declined up to 75% over a 5 year period, with some of the worst declines occurring over the past year.
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Source: emergingequity.org
From Bad To Worse: Brazilian ETFs Begin To Close
October 4, 2015--There is no denying the it has been hard to convince investors to purchase Latin American ETFs over the past few months, let alone Brazilian ETFs, due to constant underperformance, commodity price falls and fears over China.
With the Brazilian economy already in turmoil-including economic stagnation, social unrest and record disapproval rates for the incumbent President Dilma Rousseff-the Latin American giant is about to be dealt another blow: the liquidation of two ETFs: The Global X Brazil Financials ETF (BRAF) and The EGShares Brazil Infrastructure ETF (BRXX).
Following the trend of the MSCI Brazil Index, both the BRAF and BRXX have declined up to 75% over a 5 year period, with some of the worst declines occurring over the past year.
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Source: emergingequity.org
ETF Investors Exit Emerging-Market Stock Bets As China Falters
October 1, 2015--Traders dumped exchange-traded funds tracking emerging-market stocks at the fastest pace in over a year last quarter amid concerns over the slowdown in China, a selloff in commodities and the prospect of higher interest rates in the U.S.
Investors pulled $6.1 billion from U.S.-traded ETFs that offer exposure to a basket of developing-nation equities in the three months through September, the most since the first quarter of 2014, according to data compiled by Bloomberg. Exchange-traded funds that invest in both emerging-market stocks and debt as well as individual countries saw outflows in 12 out of 13 weeks ending Sept. 25, with losses totaling$12 billion, the data show.
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Source: www.fa-mag.com
Bats will offer to pay for companies to list ETFs
October 1, 2015--BATS Global Market Holdings Inc said on Thursday it would pay exchange-traded product issuers to list their products on its exchange as it attempts to become the No. 1 U.S. listing venue for the popular securities.
The exchange operator told Reuters in March that it aimed to become the largest listing venue for ETPs such as exchange-traded funds and exchange-traded notes, within three to five years.
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Source: Reuters
OFR-Working Papers-Measuring the Unmeasurable: An Application of Uncertainty Quantification to Financial Portfolios
October 1, 2015--Uncertainty is a crucial factor in financial stability, but it is notoriously difficult to measure. This working paper extends techniques from engineering to quantify,fundamental economic uncertainty, and applies the method to an example of portfolio stress testing.
By this measure, uncertainty peaked in late 2008.
view the Measuring the Unmeasurable: An Application of Uncertainty Quantification to Financial Portfolios
Source: Office of Financial Research
CBOE Holdings Reports September 2015 Trading Volume
October 1, 2015--CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that total trading volume in September for options contracts on Chicago Board Options Exchange(R) (CBOE(R)) and C2 Options Exchange (C2) and futures contracts on
Chicago Board Options Exchange(R)(CBOE(R)) and C2 Options Exchange (C2) and futures contracts on CBOE Futures Exchange (CFE(R)) was 104.0 million contracts, a decrease of 5 percent from September 2014 and 17 percent from August 2015.
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Source: CBOE
