Global ETF News Older than One Year
Pimco vs Vanguard: numbers tell the story
May 5, 2015--The changing of the guard among bond funds, as Vanguard surpasses Pimco as the manager of the world's largest fund, has its roots in two places
-the growing attraction of low-cost index tracking funds and the management troubles at Pimco.
Source: FT.com
China share in global indices set to rise
May 5, 2015--Renminbi's growing international stature will draw assets.
Come June, the International Monetary Fund will probably decide to include the Chinese renminbi in its special drawing rights (SDR).
Source: FT.com
BATS Files Exclusive Listings Proposal
Seeks to Improve Investors' Trading Experience in Thinly-Traded Securities
May 5, 2015--BATS Global Markets (BATS), a leading global operator of exchanges and services for financial markets, today filed the "BATS Exclusive Listings Proposal" with the Securities and Exchange Commission, seeking to improve investors' trading experience in thinly-traded securities.
Under the proposal, to be implemented at the company's discretion, the BATS exchanges would no longer offer trading in thinly-traded stocks that maintain a primary listing on other U.S. stock exchanges.
Source: BATS Global Markets
DB-Synthetic Equity & Index Strategy-Global-The Flow Whisperer-TAARSS says prefer Intl DM and EM equities in May
May 4, 2015--Tactical Asset Allocation Relative Strength Signal (TAARSS) Monthly Update
Top recommendations for May: Intl DM, EM, Hong Kong, and Indian equities, and Energy Commodity.
Market review
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Risky assets had a good month in April with Global equities (ACWI) and Commodities (DBC) advancing by 2.9% and 7.1%, respectively. While US bonds (AGG) edged slightly lower by 0.3%.
TAARSS rotation strategy monthly performance review
The monthly equity regional and market, and the commodity sector TAARSS rotations recorded the best results of our model for the month of April.
Tactical positioning for May 2015 based on TAARSS
This month in global equity markets prefer Intl DM and EM, and stay neutral to the US. Region wise prefer Europe and Asia Pacific, with some Latin America exposure, while keeping a minimal allocation to North America. In US equities prefer Small and Mid caps over Large caps. Sector wise Defensives ex Utilities present the best support in the US, especially Telecom. Domestic Cyclicals are experiencing some selling pressure. In Intl DM countries prefer Hong Kong, Japan, and Germany. Within EM countries, most of them experienced positive support with India continuing to show strong investment demand support despite its second month of performance setback; in addition, China, Mexico, and Russia also exhibited some noteworthy support. In Fixed Income we did not see any notable flow trend readings. Within commodities, we saw some positive developments for energy. See Figure 13 and Figure 14 for full allocation details for the month of May.
Source: Deutsche Bank-Synthetic Equity & Index Strategy-Global
Experts see trouble ahead from MiFID II
Rules for non-equity trading could wind up pinching asset owners
May 4, 2015--European market regulators' efforts to apply equity templates to trading in other asset classes will be felt by U.S. money managers and asset owners through higher trading costs,
reduced investment performance and a potential move to more in-house management by asset owners, industry analysts said.
Oil hits 2015 high as traders look beyond ample current supply
May 4, 2015-Oil's collapse in 2014 was due to ample supply and the refusal by the Organization of the Petroleum Exporting
Countries to cut output.
Source: AME Info
IMF-Rethinking Financial Deepening: Stability and Growth in Emerging Markets
May 4, 2015-Summary: The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging markets can learn from the advanced economy experience.
It finds that gains for growth and stability from financial deepening remain large for most emerging markets, but there are limits on size and speed. When financial deepening outpaces the strength of the supervisory framework, it leads to excessive risk taking and instability. Encouragingly, the set of regulatory reforms that promote financial depth is essentially the same as those that contribute to greater stability. Better regulation-not necessarily more regulation-thus leads to greater possibilities both for development and stability.
Source: IMF
Male Investors vs. Female Investors
Studies show men and women could learn from the other's approach
May 3, 2015--When it comes to investing, men sometimes have their ways of doing things, and women have different ways.
And each could learn from the other.
Broad generalizations, of course, are inherently risky. And nobody would suggest that gender drives investment success.
Source: Wall Street Journal
Male Investors vs. Female Investors
Studies show men and women could learn from the other's approach
May 3, 2015--When it comes to investing, men sometimes have their ways of doing things, and women have different ways.
And each could learn from the other.
Broad generalizations, of course, are inherently risky. And nobody would suggest that gender drives investment success.
Source: Wall Street Journal
IMF Working paper- How Important are Debt and Growth Expectations for Interest Rates?
May 1, 205--Summary: This paper uses a dataset on private-sector risk aversion as well as expectations of long-run growth and debt to explain trends in implied forward rates on government bonds in the G-7 countries.
The results show, consistent with the literature, that a one-percent rise in the long-run projected debt-to-GDP ratio causes an increase in bond yields of a relatively modest 1-to-6 basis points. Shocks to growth expectations and risk aversion have been comparatively more successful in explaining the behavior of long-term rates. The findings imply that growth policies rather than long-run projections of fiscal outcomes may be more important in helping influence long-term borrowing costs.
view the IMF Working paper- How Important are Debt and Growth Expectations for Interest Rates?
Source: IMF
