Americas ETP News
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J.P. Morgan launching its first exchange-traded fund
June 17, 2014--J.P. Morgan Chase & Co (JPM.N) is launching its first exchange-traded fund on Tuesday as the Wall Street bank's asset management business makes its debut in the $1.8 trillion U.S. exchange-traded fund arena.
The JPMorgan Diversified Return Global Equity ETF (JPGE.P) is set to start trading Tuesday on the NYSE Arca under the ticker "JPGE." The launch brings J.P. Morgan Asset Management,m a long-time mutual fund provider, into a fast-growing ETF market dominated by asset managers including BlackRock Inc (BLK.N), State Street Corp (STT.N) and Vanguard Group.
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Source: Reuters
2014 Article IV Consultation with the United States of America Concluding Statement of the IMF Mission
June 16, 2014--The 2014 U.S. Article IV highlighted five broad themes to both strengthen the recovery and improve the long-term outlook: raising productivity growth and labor participation, confronting poverty, keeping public debt on a sustained downward path, managing the exit from zero policy rates, and securing a safer financial system.
To achieve these goals and fortify the country's economic future the policy focus should be to undertake more proactive labor market policies that lower long-term unemployment and raise participation; increase the minimum wage while strengthening the Earned Income Tax Credit; invest in infrastructure; improve the tax structure and raise revenues; fundamentally reform social security; and lower the growth of health care costs.
1.Near-term growth and jobs. In the early part of this year, as a harsh winter conspired with other factors (including inventory drawdown, a still-struggling housing market, and slower external demand), momentum faded in the U.S economy. Recent data, however, suggest a meaningful rebound in activity is now underway and growth for the remainder of this year and 2015 should well exceed potential.
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Source: IMF
Alamo Capital Launches New Online Trading Website: ACAP Trading
June 16, 2014--Alamo Capital announced on Monday, June 16, 2014, the launch of their new website for their online investment trading division, ACAP Trading. ACAP Trading will be home to two dynamic platforms for trading stocks and bonds online.
Users will have the ability to trade equities, ETFs, mutual funds, and options (with an options agreement +$0.80 per contract) at $6.70 per trade. ACAP Trading's bond platform, BOLTS (Bond On-Line Trading System), will give users the ability to comparison shop and search for bonds: municipals, agencies, corporates, strips & zero coupons, treasuries and CDs.
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Source: Reuters
U.S. recovery could be strengthened by key reforms, OECD says
June 13, 2014--Economic recovery in the United States is stronger than in most OECD countries, but it will remain sluggish unless new reforms are launched to boost growth, according to OECD's latest Economic Survey of the United States.
The U.S. recovery has spread across a wide array of sectors. Most banks have generally returned to health, housing prices are rising and unemployment has fallen. That said, growth could be bolstered by new reforms of taxes, education, training, immigration and working conditions-all of which could improve the economic prospects of middle-class families.
view the OECD Overview of the 2014 Economic Survey of the United States
Source: OECD
Assessment of Basel III capital regulations in Canada concluded by the Basel Committee
June 13, 2014--The Basel Committee on Banking Supervision has today published a report assessing Canada's implementation of the Basel capital framework.
Overall, Canada's implementation was found to be "compliant" with the standards prescribed under the Basel framework. Thirteen of the 14 components assessed were graded as "compliant", while one component-the definition of capital -was assessed as being "largely compliant" with the Basel standards.
view the
Assessment of Basel III regulations- Canada (June 2014) report
Source: BIS
Egypt: Foreign Investors' Purchases Lead EGX to Gain EGP 2.2 Billion
June 13, 2014--The Egyptian Exchange (EGX) main index went up during the Thursday transactions thanks to the foreign investors' purchases,
as the market capital gained about EGP 2.2 billion.
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Source: AllAfrica.com
Global X SuperDividend TM ETF (SDIV) Crosses $1 Billion In Assets
Global X experiences strong demand for income producing ETFs
June 12, 2014--Global X Management Company LLC (Global X), sponsor of innovative exchange traded funds (ETFs), today announced that its suite of income producing ETFs has achieved several key milestones in assets under management.
The Global X SuperDividendTM ETF (SDIV) crossed the $1 billion threshold, while the Global X SuperDividendTM U.S. ETF (DIV), the Global X SuperIncomeTM Preferred ETF, the Global X MLP ETF (MLPA) and Global X MLP & Energy Infrastructure ETF (MLPX) each reached $100 million in assets.
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Source: Global X
State Street Global Advisors Expands Advanced Beta ETF Offering To Meet Demand for Multi-Factor Approach
June 12, 2014--State Street Global Advisors (SSgA), the asset management arm of State Street Corporation (NYSE:STT) today announced the launch of a suite of advanced beta SPDR ETFs that seek to combine the performance of quality, value and low volatility strategies to provide investors the potential diversification benefits of a multi-factor approach in an objective, transparent and consistent manner.
The nine new ETFs, which are all trading on the NYSE Arca as of June 12, 2014, include:
SPDR MSCI World Quality Mix ETF (Symbol: QWLD)
SPDR MSCI EAFE Quality Mix ETF (QEFA)
SPDR MSCI Emerging Markets Quality Mix ETF (QEMM)
SPDR MSCI Australia Quality Mix ETF (QAUS)
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Source: State Street Corporation
ETRACS introduces the first MLP ETN to track non-energy MLPs offers significant monthly income potential
ETRACS Wells Fargo(R) MLP Ex-Energy ETN
June 11, 2014--UBS Investment Bank announced that today is the first day of trading on the NYSE Arca(R) for the ETRACS Wells Fargo(R) MLP Ex-Energy ETN (NYSE Arca(R): FMLP).
FMLP is linked to the performance of the Wells Fargo(R) Master Limited Partnership Ex-Energy Index (the "Index").
FMLP Profile
Underlying Index: Wells Fargo(R) Master Limited Partnership Ex-Energy Index
Index Yield*: 7.69%
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Source: UBS
Canada: Sustain inclusive growth by reducing housing market risks and overcoming specific skills shortages, says OECD
June 11, 2014--Canada has experienced solid economic growth since the global crisis, allowing it to reverse recession-induced job losses and put federal public finances on a sound footing, says the OECD. Growth is expected to accelerate from 2.5% this year to 2.7% in 2015.
Despite the overall positive outlook, important challenges remain to ensure strong, inclusive growth going forward and preserve Canada's high levels of well-being, according to two new OECD reports.
High housing prices in certain large cities and household debt pose financial stability risks that should be addressed. Fiscal consolidation should continue as planned at both the federal and provincial levels, with a particular focus on long-term health costs at provincial level. Efforts must be taken to protect the environment while saving a greater share of resource revenues for future generations, and further action is needed to ease localised and sector-specific skills shortages.
view the OECD Overview of the Economic Survey of Canada
Source: OECD
