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CFTC.gov Swaps Report Update
December 3, 2014--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Midweek Market Pulse: Market News and Index Movers-Black Friday for Black Gold
December 3, 2014--The precipitous decline in crude oil prices continued this week as OPEC maintained current production levels. WTI Crude contracts slid 10.2% on Friday, as market prices converge toward domestic producers’ break-even production costs.
While the slide in crude prices may be hurting domestic tight oil producers, this move is seen as a boon to the overall domestic economy. 208,000 jobs were added in November according to the recent ADP report, continuing a recovery trend which began after the recession ended in 2013. US auto sales increased 4.6% last month as lower gasoline prices spurred demand. Gold prices turned slightly positive for the year, settling around $1210/oz in morning trading.
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Source: Nasdaq.com
BNY Mellon ADR Index Monthly Performance Update-Data as of November 30, 2014
December 3, 2014--The BNY Mellon ADR Index Monthly Performance Update is now available.
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Source: BNY Mellon
Morgan Stabley-ETF Semi-Annual Report
December 3, 2014--What’s New
With 1,449 ETFs listed in the US as of 11/25/14, it is not practical to provide research on every ETF. We currently publish one-page profiles only on a coverage universe of
larger and more liquid ETFs with attractive investment
attributes across each market segment.
Basic data on all available US-listed ETFs are still included on pages 4-31,
where we highlight in bold our favored ETFs in each market segment of our coverage universe. Selection criteria
for favored ETFs include Morgan Stanley & Co.'s market outlook, index composition, ETF expenses, and liquidity.
Semi-Annual Report: $2.0 Trillion in 1,449 ETFs
Our semi-annual report on US-listed ETFs includes a summary of investment applications, excerpts from our strategy reports, our outlook for related markets, index data, and individual profiles for the 346 ETFs in our coverage universe, which represents 87% of US-listed ETF assets.
ETFs posted net inflows of $46.7 billion in 3Q14, above the $40.3 billion average quarterly rate of net inflows since the beginning of 2011. US Large-Cap ETFs had the largest net inflows during the third quarter, at $18.8 billion, with the SPDR S&P 500 ETF (SPY) accounting for 55% of the category's net inflows. Conversely, US Sector & Industry ETFs exhibited net outflows of $1.3 billion, the most of any category we measured. Furthermore, there were 50 ETFs launched in 3Q14 and there are currently 1,449 ETFs with $2.0 trillion in assets.
ETFs provide access to favored market segments. Morgan Stanley Wealth Management's Global Investment Committee (GIC) favors equities over fixed income. Within equities, the GIC recommends international developed markets based on current valuations and earnings growth potential while advocating selectivity in fixed income. We list favored areas in the report and ways to implement these ideas via ETFs.
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Source: Morgan Stanley
CBOE Holdings Reports All-Time Record Trading Volume in October
December 3, 2014--Volume Averages a Record 7 Million Contracts Per Day-Up 29% from October 2013 and 37% from September 2014
-CBOE, CFE, C2 Establish New Monthly Volume Records
-Index Options, SPX, VIX Options and VIX Futures Set New Records
CBOE Holdings, Inc. (NASDAQ: CBOE) reported today that trading volume for options contracts on Chicago Board Options Exchange(R)(CBOE(R)) and C2 Options ExchangeSM (C2SM) and futures contracts on CBOE Futures ExchangeSM (CFE®) set an all-time monthly record of 163.08 million contracts in October.
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Source: CBOE
UBS ETRACS Launches New ETN Linked to the S&P 500 VEQTOR Switch Index
ETRACS S&P 500 VEQTOR Switch ETN
December 3, 2014--UBS Investment Bank announced that today is the first day of trading on the NYSE Arca(R) for the ETRACS S&P 500 VEQTOR Switch ETN (NYSE Arca(R): VQTS). VQTS is linked to the performance of the S&P 500 VEQTOR Switch Index (the "Index").
VQTS Offers Investors:
Strategy linked to volatility targeted S&P 500 Index and long/short VIX futures strategy
VIX futures component aims to capture VIX roll yields and volatility drops (when allocated to short positions in VIX futures) and capture VIX upside during volatility spikes (when allocated to long positions in VIX futures)
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Source: UBS
U.S. Securities and Exchange Commission Issues Order Granting Exemptive Relief to Permit the Offering of Exchange-Traded Managed Funds
December 2, 2014--Eaton Vance Management (Eaton Vance), a subsidiary of Eaton Vance Corp. (EV), announced that the U.S. Securities and Exchange Commission (SEC) has today issued an order (Order) granting Eaton Vance and related parties an exemption from certain provisions of the Investment Company Act of 1940, as amended, to permit the offering of exchange-traded managed funds.
This action follows the notice of intent to grant exemptive relief issued by the SEC on November 6, 2014 and approval by the SEC on November 7, 2014 of a new NASDAQ Stock Market LLC rule governing the listing and trading of exchange-traded managed funds.
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Source: Eaton Vance Corp.
AltaVista-Sector SPDR Analyzer December 2014
December 2, 2014--The Sector SPDR Analyzer + Equal Sector Weight ETF (EQL), December 2014 report is now available.
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Source: AltaVista Research
An ETF Pioneer Looks to the Industry's Future
December 2, 2014--Before the advent of the ETF, there was no easy way to invest in the Nasdaq composite index.
Even when ETFs first were released into the market in 1993, they were primarily for the institutional investor and known only as index shares.
After looking at the Nasdaq composite, John Jacobs, executive vice president of global information services at Nasdaq, and his team determined the Nasdaq-100 would be a more effective index for the first Nasdaq ETF, prompting the 1999 launch of the QQQ and creating a path for retail investors.
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Source: www.mmexecutive.com
Office of Financial Research 2014 Annual Report to Congress
December 1, 2014--This third annual report of the Office of Financial Research (OFR)
assesses threats to U.S. financial stability, outlines OFR research that
supports the assessment, and describes the OFR's progress in meeting
our mission.
The report also evaluates policy initiatives for promoting
financial stability and describes our work to improve the quality and
scope of financial data and analysis.
The OFR, financial regulators, and other policy institutions have made significant progress since our last annual report in assessing the buildup of vulnerabilities in the financial system, improving the quality and scope of financial data, and developing and implementing new policy tools that-although largely untested- are designed to make the financial system stronger and more transparent.
view the Office of Financial Research 2014 Annual Report to Congress
Source: OFR (Office of Financial Research)