Global ETF News Older than One Year
BCBS and IOSCO issue criteria for identifying simple, transparent and comparable short-term securitisations
May 14, 2018--The Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) today issued the Criteria for identifying simple, transparent and comparable short-term securitisations (the short-term STC criteria), which are available on the BCBS and IOSCO websites.
The short-term STC criteria aim to assist the financial industry in its development of simple, transparent and comparable short-term securitisations. The criteria maintain and build on the principles in the Criteria for identifying simple, transparent and comparable securitisations issued by BCBS-IOSCO in July 2015. The criteria published today take account of the characteristics of asset-backed commercial paper (ABCP) conduits, such as (i) the short maturity of the commercial paper issued, (ii) the different forms of programme structures and (iii) the existence of multiple forms of liquidity and credit support facilities.
Source: BIS
Singapore Exchange (SGX) and Tel-Aviv Stock Exchange (TASE) Establish Partnership to Grow Cross-Border Capital Raising Opportunities for Technology Companies
May 14, 2018--Partnership complements efforts by the exchanges to boost their respective technology sector listings
Singapore Exchange (SGX) and The Tel-Aviv Stock Exchange (TASE) today announced that they have established a partnership focused on growing capital raising opportunities for companies, particularly in the technology sector.
The two exchanges will work together to support technology and healthcare companies which are looking to tap the capital markets to fund their growth plans in Asia and globally. The two exchanges will pro-actively engage with technology companies seeking to penetrate Asian markets, to list on both exchanges. This will include assisting companies during the pre-listing stage, facilitating the listing process, and providing issuers with post-listing support by leveraging the exchanges' network and platforms.
Source: SGX
ETF Securities Weekly Flows Analysis: Geopolitical risks drove ETP flows last week
May 14, 2018--Oil ETPs see US$39.5mn outflows as investors take profit on 3.2% rise in oil price.
Gold continues to attract in an environment of heightened security risk.
Source: etfsecurities.com
ETF sales hit by return of global market volatility
May 14, 2018--About $2.9bn in new money flowed into gold exchange traded funds globally.
Source: FT.com
BlackRock Global ETP Landscape-April 2018
May 11, 2018--Summary
Global ETP flows in April were fueled by Fixed Income
April industry flows of $35.4bn doubled in comparison to $17.7bn in March as flows into Fixed Income funds
accelerated and U.S. equity flows turned positive after two
months of outflows
Global fixed income flows during April reached $17.3bn -a ten-month high- diversified across U.S. Treasuries with 6.6bn, investment grade corporate with $3.2bn and broad multi-sector funds with $3.0bn
U.S. equities added $6.9bn compared to the redemption activity of ($7.1bn) from last month amid a strong U.S. earnings season
Gold flows scaled to $2.9bn-the highest since July 2016-indicating demand for perceived safe-haven categories alongside the U.S. Treasury flows mentioned above
Source: BlackRock
IMF Regional Economic Outlook Update: Middle East and Central Asia
May 11, 2018-- Summary
Growth is improving in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region and was stronger than expected last year in the Caucasus and Central Asia (CCA) region. However, the regions are not fully benefitting from the stronger global outlook.
In MENAP, the fragile recovery requires further reforms that will help diversify economies, create jobs, and secure resilience.
Meanwhile, the growth momentum in the CCA is temporary, which is why action is needed now to spur private-sector development, so that the region avoids a new reality of low growth.
view the IMF Regional Economic Outlook Update: Middle East and Central Asia
Source: IMF
DECPG Global Weekl
May 11, 2018--TAKING STOCK
U.S. inflation rose less than expected in April; consumer confidence held steady in May
Bank of England kept interest rates on hold; Euro Area investor sentiment fell to a 15-month low
Japan's household spending fell for a second consecutive month in March
China's consumer price inflation slowed in April; producer price inflation picked up; export growth rebounded
Crude oil prices rose
U.S. inflation rose less than expected in April; consumer confidence held steady in May. The headline consumer price index (CPI) rose 2.5 percent (y/y) in April, slightly up from 2.4 percent in March, as rising energy costs were partly offset by a moderation in health care prices.
Source: World Bank
Investment Update: Using gold to hedge emerging market risk
May 10, 2018--Over the long run, economic growth is a key driver of gold demand, especially in emerging market countries where there is high affinity for gold as jewellery and investment. At the same time, gold tends to perform well in period of crisis.
Having a strategic position in gold helps improve EM portfolio performance as it can be used to:
capture EM upside through gold's link to rising incomes
protect against systemic risks, which reduce portfolio volatility and losses- producing gains in some systemic sell-offs
hedge foreign-exchange risk at a lower cost than traditional currency hedges
Source: World Gold Council
IMF Working Papers-Cross-Border Transmission of Fiscal Shocks: The Role of Monetary Conditions
May 9, 2018--Fiscal stimulus was widely advocated during the global crisis, a period characterized by monetary policy constrained by the effective lower bound (ELB) in many countries, in part because of expected positive spillovers.
Standard New Keynesian models predict the cross-border transmission of fiscal shocks is stronger when monetary policy is constrained in recipients. However, the empirical evidence is scarce. This paper bridges this gap by looking at the impact of fiscal shocks in systemic (source) economies on output and demand components in a large group of (recipient) countries, under different monetary policy conditions. Empirical results are compared to simulations with a state-of-the-art estimated open-economy New Keynesian model. Our results corroborate model predictions, finding larger spillovers when recipients are at the ELB, driven by stronger responses of investment and consumption relative to normal times.
Source: IMF
ETF Securities Weekly Flows Analysis: Gold ETPs took the lions share of flows amidst the ongoing risk-off environment
May 9, 2018--Gold ETP inflows surged to their highest level at US$62.8mn in 25 weeks after a tepid jobs report.
Gold ETPs took the lions share of flows after a tepid jobs report and ongoing trade tensions.
Source: etfsecurities.com
