Global ETF News Older than One Year
IMF Working paper-Private and Public Debt: Are Emerging Markets at Risk?
March 22, 2017--Using a dataset covering a large sample of emerging economies (EMEs), we study the relationship between debt and economic performance in bad times.
While previous research has shown that private debt buildups exacerbate the duration and intensity of recessions in advanced economies (AEs), we document that this effect is very pronounced in EMEs as well. Moreover, although rapid public debt buildups are unlikely to be the primary trigger of financial crises, in EMEs they are associated with deeper and longer recessions than in AEs. Part of this difference is explained by a less supportive fiscal policy in EMEs during crises.
view the IMF Working paper-Private and Public Debt: Are Emerging Markets at Risk?
Source: IMF
Fintech can help fight AML, but might also increase risk of financial contagion, head of MAS says
March 20, 2017--While novel financial technologies could reduce certain risks for financial institutions, they could also imperil them and trigger, among other things, financial contagion, according to Ravi Menon, the managing director of the Monetary Authority of Singapore.
Source: mlexfs-core.com
Asset managers set for multi-year adjustment phase-Morgan Stanley
March 20, 2017--Adustment process could usher in an era of large-scale consolidation
Asset managers are facing a multi-year adjustment process that will affect earnings and shares, according to analysts at Morgan Stanley.
Source: globalinvestormagazine.com
Fixed-income ETF flows across assets and maturities
March 20, 2017--Bond ETFs see net outflows on rising rates, commodities slide
Cash fled global bond exchange-traded funds in the week ended March 8 as commodity prices slid. U.S. corporate high yield led outflows as high grade inflows stalled and U.S.
Treasuries saw net inflows. Recent bond flows also reflect better interest-rate risk appetite. Yet the longer trend shows shorter-duration ETF inflows outpacing longer-duration funds.
Source: Bloomberg
Bassanese Bites: $US Breather
March 19, 2017--The Week in Review
The key development last week was market's "sell the fact" reaction to the Fed rate hike.
With the Fed signalling an earlier than market expected March rate hike in recent weeks, traders seemed to be anticipating a more hawkish Fed statement and possible lift in the number of rate hikes the Fed expects to make this year from 3 to 4.
As it turned out, the Fed was not more hawkish and stuck with its (current) plans of only two further rate hikes this year. Bonds yields and the $US dollar dropped, and equities rejoiced.
Source: BetaShares
DECPG Global Weekly-March 17, 2017
March 17, 2017--Taking Stock
U.S. Federal Reserve raised interest rates. On March 15th, the U.S. Federal Reserve raised its benchmark federal fund rate by 25 basis points to a range of 0.75-1 percent, in line with market expectations.
The interest rate hike, the third during the ongoing tightening cycle, came amid strong employment numbers and rising inflation. In its statement, the Federal Reserve noted that headline price inflation had moved closer to the 2 percent target and business sentiment had improved.
Source: World Bank
Blockchains and the G20: Building an Inclusive, Transparent and Accountable Digital Economy
March 17, 2017--At a time when governments must fight to restore the public's faith in cross-border economic cooperation, blockchain technologies can play a critical role in strengthening economic resilience while ensuring the global economy works to the benefit of all.
The G20 must take decisive steps to harness this technology in service of its policy goals across the core focus areas of economic resilience, financial inclusion, taxation, trade and investment, employment, climate, health, sustainable development and women's empowerment.
Source: Centre for International Governance Innovation
ERI Scientific Beta paper-Accounting for Cross-Factor Interactions in Multi-Factor Portfolios: the Case for Multi-Beta Multi-Strategy High Factor Exposure Indices
March 17, 2017--In a research publication entitled "Accounting for Cross-Factor Interactions in Multi-Factor Portfolios: the Case for Multi-Beta Multi-Strategy High Factor Exposure Indices", we introduce Scientific Beta's well-diversified "top-down" multi factor approaches and compare them with "bottom-up" score-weighting approaches that target high factor intensity.
Source: ERI Scientific Beta
Citadel Securities to trade US Treasuries on Tradeweb
March 15, 2017-- Bloomberg and Tradeweb dominate e-trading of US Treasuries between investors and dealers
Chicago-based broker dealer Citadel Securities will begin trading US government bonds on electronic venue Tradeweb.
The move comes as non-banks, such as Citadel Securities, continue to extend their reach into Treasury trading while banks continue to pull back as new regulations increase the cost of trading.
Source: www.globalinvestormagazine.com
Buy-side brush off blockchain for AI technology
Research has revealed buy-side market participants are convinced artificial intelligence (AI) will be more disruptive for the industry than blockchain.
Source: thetradenews.com
March 14, 2017--Investment professionals see AI technology as more disruptive for the industry than blockchain.
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