ICE ETF Hub a ‘highway’ for modernizing ETFs: BlackRock

BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom. The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading. The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bon


BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom.
The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading.
The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bon
ICE ETF Hub a ‘highway’ for modernizing ETFs: BlackRock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: annie pei, lizzy gurdus
Keywords: news, cnbc, companies, etfs, bond, market, investors, ice, modernizing, really, trade, trading, cohen, highway, etf, hub, blackrock


ICE ETF Hub a 'highway' for modernizing ETFs: BlackRock

It’s been a big year for ETFs and investment giant BlackRock is aiming to make next year even bigger for the industry.

BlackRock and NYSE owner ICE are looking to improve efficiency in the ETF market with their new ETF Hub as the industry continues to boom. The hub’s key features, according to the ICE ETF Hub website, include processes to streamline ETF order entries, consolidate issuer data and provide the analytic tools needed while also facilitating fixed income ETF trading.

The latter has been a focus of BlackRock’s Samara Cohen, co-head of iShares Markets and Investments at Blackrock, given the surge in bond ETF trading. In fact, over half of net ETF inflows have gone to bond ETFs in 2019.

“What’s happening is, as lots of asset managers seek to meet the demand of investors to participate in bond ETFs, they’re creating a bunch of, you can think of it as local access roads to create and redeem bond ETFs,” she said Tuesday on CNBC’s “ETF Edge.”

“What the Hub is doing — and it’s really a market utility that has never existed before — is creating a highway to facilitate the manufacturing process for bond ETFs,” she added.

This is particularly relevant given that bond ETF trading, unlike for many ETF groups, has yet to be electronified, another goal Cohen has for the Hub.

“The demand for bond ETFs has really forced the electronification of the bond market because you can’t trade a big portfolio, and some of these ETFs have thousands of bonds,” she explained. “You can’t trade that by voice or over the phone, so you need electronic systems and that has facilitated a huge change in the bond market, broadly.”

Aside from the bond market, Cohen also points to the rising interest in ESG, short for Environmental, Social and Governance ETFs as another group that could drive the ETF industry.

“There’s been a real desire by investors in the U.S., [and that interest] has been there longer in Europe, to combine their investing with their beliefs, and investors are becoming educated in what that means for them,” she said.

Net inflows into U.S.-based ETFs have hit $271 billion this year, making 2019 the second-biggest year on record for the ETF market, according to ETF.com.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: annie pei, lizzy gurdus
Keywords: news, cnbc, companies, etfs, bond, market, investors, ice, modernizing, really, trade, trading, cohen, highway, etf, hub, blackrock


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Buy a Monet instead of a Treasury? Art has shown long-term returns that rival bonds

Astronomical auction prices may have defined the art market in recent years, but new research shows that over the long-term the value of art has steadily climbed, delivering returns relatively in-line with bonds. Impressionist art averaged 5.0%, while the art market as a whole returned 5.3% annually. Chesnot | Getty ImagesIn 2018 the art market hit $67.4 billion, according to estimates from UBS, which was the second highest on record. “Periods of falling and/or low real rates have coincided with


Astronomical auction prices may have defined the art market in recent years, but new research shows that over the long-term the value of art has steadily climbed, delivering returns relatively in-line with bonds.
Impressionist art averaged 5.0%, while the art market as a whole returned 5.3% annually.
Chesnot | Getty ImagesIn 2018 the art market hit $67.4 billion, according to estimates from UBS, which was the second highest on record.
“Periods of falling and/or low real rates have coincided with
Buy a Monet instead of a Treasury? Art has shown long-term returns that rival bonds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: pippa stevens
Keywords: news, cnbc, companies, art, longterm, returns, market, return, investors, returned, prices, bonds, monet, shown, rival, buy, citi, firm, works, instead, treasury


Buy a Monet instead of a Treasury? Art has shown long-term returns that rival bonds

(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) Astronomical auction prices may have defined the art market in recent years, but new research shows that over the long-term the value of art has steadily climbed, delivering returns relatively in-line with bonds. Since 1985 contemporary art has been the best bet for investors of the asset class, returning an average of 7.5% per year, Citi said in a report using data from Masterworks.io. Impressionist art averaged 5.0%, while the art market as a whole returned 5.3% annually. Art can be a wildly volatile market — among other things it’s subject to the whim of consumer tastes — but Citi said that it’s becoming an increasingly popular way for investors to diversify their portfolio since art’s return isn’t correlated with any other major asset class. In other words, its performance is independent of strength or weakness in various areas of the market. This is “art’s most attractive investment quality over the long run,” Citi said.

Visitors look at a painting entitled ‘Salvator Mundi’ by School of Leonardo da Vinci during a press visit of the exhibition “Leonardo da Vinci” at the Louvre museum on October 22, 2019 in Paris, France. The painting sold at auction by Christie’s for over $450 million on November 15, 2017. Chesnot | Getty Images

In 2018 the art market hit $67.4 billion, according to estimates from UBS, which was the second highest on record. In May one of Monet’s haystacks went for $110.7 million, and Picasso’s “Young Girl with a Flower Basket” and a Modigliani painting of a reclining nude woman were among the works to top $100 million at auction in 2018. Perhaps most famously, Leonardo da Vinci’s “Salvator Mundi” sold for a record $450.3 million in 2017. While these numbers are attention grabbing, there’s also a robust market at much lower prices. Citi found that works under $50,000 actually offer “the best performing price point from both a return and a risk per unit of return basis,” adding that “there is no disadvantage from a return perspective to having a small purse.”

Art offers similar returns to fixed income

Using data from Masterworks.io, which tracks auction sales from Sotheby’s, Christie’s and Phillips, Citi found that between 1985 and 2018 the art market as a whole has returned an average of 5.3% annually. Contemporary art has been the top performer, returning an average of 7.4% annually, while art from the Impressionist period has returned 5%. The return on art most closely matches that of fixed income. In the same time frame investment grade bonds from developed countries returned 6.5%, while global high yield bonds returned 8.1%, Citi said. Developed-market equities and private equity returns 9.8% and 13.9%, respectively. Citi said that the relative outperformance of post-war and contemporary art is likely because it currently “commands the largest share of annual transaction volume,” and “appears to attract the most demand from new entrants to the market.” The firm also found that art typically does better when interest rates are low since the opportunity cost — or the higher that investors might otherwise be getting from fixed income — goes down. “While the relationship has been far from perfect, art prices have tended to move in line with broad shifts in real interest rates,” the firm said. “Periods of falling and/or low real rates have coincided with rising art prices.” After crunching the numbers from 13,000 works of art sold since July of 2016, the firm found a few key takeaways, including that holding art for longer typically lowers the risk of future returns, and that higher returns are typically given to more liquid artists. “Art has proven to be an excellent store of wealth over all time periods, easily exceeding inflation,” the firm said. Overall, the firm said that art has been “an excellent store of wealth over all time periods” since it easily exceeds inflation.

Traction with technology

A lack of transparency around sales has been a longstanding hurdle for the art market, but Citi said that could be about to change thanks to technological advancements like blockchain. “Digital technologies such as blockchain could help automate vital processes, including establishing authenticity and performing valuations, as well as enabling sharebased investment in individual works and collections,” the firm said. “More transparent pricing, more readily available data on sales, greater market liquidity, and lower transaction costs could result. If realized, such efficiencies would make the art market more attractive for collectors and investors alike.” This is especially important as baby boomers prepare to pass an estimated $68 trillion to their children in the United States alone. Millennials and Generation X care more about how their money is being used, Citi said, so blockchain technology could be an important way for users trace and set up protocols for their donations, for example.

“With the potential for technology to enhance the world of art over the coming years, we believe that art’s existing appeal to collectors and investors could increase further,” Citi said.

Returns, but not without risk


Company: cnbc, Activity: cnbc, Date: 2019-12-07  Authors: pippa stevens
Keywords: news, cnbc, companies, art, longterm, returns, market, return, investors, returned, prices, bonds, monet, shown, rival, buy, citi, firm, works, instead, treasury


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Treasury yields tick higher as investors await jobs report

ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%. Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump. On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade a


ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%.
Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.
On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal.
His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade a
Treasury yields tick higher as investors await jobs report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, worlds, higher, jobs, upbeat, trumpon, tariffs, yield, washington, treasury, yields, investors, report, tick, await


Treasury yields tick higher as investors await jobs report

At 02:50 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.8034%, while the yield on the 30-year Treasury bond was also higher at around 2.2482%.

Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.

On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called “phase one” trade agreement, with less than 10 days to go before Washington is poised to impose even more tariffs on Chinese goods.

Dec. 15 is the date when tariffs on another $156 billion in Chinese goods will go into effect.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: sam meredith
Keywords: news, cnbc, companies, trade, chinese, worlds, higher, jobs, upbeat, trumpon, tariffs, yield, washington, treasury, yields, investors, report, tick, await


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This chart shows how ‘depressing’ life has been for stock pickers

While savvy stock picking used to make money managers billions of dollars, the likelihood of beating passive investors these days is slimming. Investors have a 22% chance of picking a stock that will perform better than the S&P 500, according to Societe Generale. In a universe of 16,000 global and emerging market stocks, 78% have underperformed the S&P 500 in the past two years. Further, only 34% have performed better than the S&P 500 in the last year, said Societe Generale in a note titled “the


While savvy stock picking used to make money managers billions of dollars, the likelihood of beating passive investors these days is slimming.
Investors have a 22% chance of picking a stock that will perform better than the S&P 500, according to Societe Generale.
In a universe of 16,000 global and emerging market stocks, 78% have underperformed the S&P 500 in the past two years.
Further, only 34% have performed better than the S&P 500 in the last year, said Societe Generale in a note titled “the
This chart shows how ‘depressing’ life has been for stock pickers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, passive, lapthorne, life, pickers, depressing, stock, investing, 500, investors, global, money, shows, chart, active


This chart shows how 'depressing' life has been for stock pickers

It certainly doesn’t pay to be an old-fashioned stock picker anymore.

While savvy stock picking used to make money managers billions of dollars, the likelihood of beating passive investors these days is slimming. Investors have a 22% chance of picking a stock that will perform better than the S&P 500, according to Societe Generale.

In a universe of 16,000 global and emerging market stocks, 78% have underperformed the S&P 500 in the past two years. Further, only 34% have performed better than the S&P 500 in the last year, said Societe Generale in a note titled “the most depressing chart ever!”

“The strong performance of the S&P 500 leaves everything in its wake,” Andrew Lapthorne, Global Head of Quantitative Research at the firm said in a note to clients. “This is lauded as a success and an abject failure of active fund management.”

With data like this, it’s no surprise that assets in passive investing topped those of active investing for the first time ever in August. U.S. index funds and ETFs assets reached $4.271 trillion, compared with $4.246 trillion run by stock-pickers, according to Morningstar. This shift has been coming for decades as passive investing consistently outperforms active over long time periods despite active management charging higher fees.

In the last five years, 82% of active funds in the United States underperformed the S&P 500, according to S&P Dow Jones Indices’ most recent global SPIVA report. And with over 12,400 stocks failing to beat the S&P 500 in the past two years its no wonder why stock-picking shops are closing their doors.

Billionaire investor Jeffrey Vinik closed his hedge fund this year less than a year after its relaunch, citing a challenging environment to raise money. Veteran money manager Louis Bacon plans to close his New York-based hedge fund Moore Capital Management and return capital to investors, the Financial Times reported last month.

This trend is also dissuading private companies from entering the public markets, Lapthorne noted.

“If the measurement of company success is outperforming the 500 largest-cap US businesses supported by the US Federal Reserve, debt-funded share buybacks, and increasingly sophisticated financial products, then you can understand why less business are going public and private equity is booming,” said Lapthorne.

— with reporting from CNBC’s Michael Bloom.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, passive, lapthorne, life, pickers, depressing, stock, investing, 500, investors, global, money, shows, chart, active


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What a ‘Santa Claus rally’ is — and whether investors can expect such a gift in their investment portfolio

Historically speaking, there’s been a small lift to stock-market portfolios at the end of the year — a phenomena that many in the financial industry call “the Santa Claus rally.” “The Santa Claus rally is when the market tends to do well over the last two weeks of the year,” he says. It does happen — not 100% of the time, but around 60% of the time,” Lambert says. Some years, investors get coal: Last year, for example, the S&P 500 dropped almost 20% by late December. But historically, Lambert sa


Historically speaking, there’s been a small lift to stock-market portfolios at the end of the year — a phenomena that many in the financial industry call “the Santa Claus rally.”
“The Santa Claus rally is when the market tends to do well over the last two weeks of the year,” he says.
It does happen — not 100% of the time, but around 60% of the time,” Lambert says.
Some years, investors get coal: Last year, for example, the S&P 500 dropped almost 20% by late December.
But historically, Lambert sa
What a ‘Santa Claus rally’ is — and whether investors can expect such a gift in their investment portfolio Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: sam becker
Keywords: news, cnbc, companies, small, portfolio, week, investment, gift, tends, rally, historically, claus, market, financial, santa, lambert, investors, expect, weeks


What a 'Santa Claus rally' is — and whether investors can expect such a gift in their investment portfolio

Historically speaking, there’s been a small lift to stock-market portfolios at the end of the year — a phenomena that many in the financial industry call “the Santa Claus rally.”

Because Christmas lands within the last week of the year, Santa often gets credit for a small but measurable boost in the markets during that time, says Jason Lambert, the president and CEO of Northwest Financial & Tax Solutions near Portland, Oregon. “The Santa Claus rally is when the market tends to do well over the last two weeks of the year,” he says.

“It’s a real effect. It does happen — not 100% of the time, but around 60% of the time,” Lambert says. Some years, investors get coal: Last year, for example, the S&P 500 dropped almost 20% by late December.

But historically, Lambert says, the stock market tends to gain between 1% and 2% during the last 10 trading days of the year.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: sam becker
Keywords: news, cnbc, companies, small, portfolio, week, investment, gift, tends, rally, historically, claus, market, financial, santa, lambert, investors, expect, weeks


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Asia stocks set to trade higher amid trade confusion

Stocks in Asia were set to trade higher on Thursday as investors digest recent developments on U.S.-China trade. Futures pointed to a higher open for Japanese stocks, with the Nikkei futures contract in Chicago at 23,350 while its counterpart in Osaka was at 23,360. Meanwhile, shares in Australia jumped in early trade after leading losses among regional markets on Wednesday, with the S&P/ASX 200 gaining about 1%. Investors will watch for the release of Australia’s merchandise trade and retail sa


Stocks in Asia were set to trade higher on Thursday as investors digest recent developments on U.S.-China trade.
Futures pointed to a higher open for Japanese stocks, with the Nikkei futures contract in Chicago at 23,350 while its counterpart in Osaka was at 23,360.
Meanwhile, shares in Australia jumped in early trade after leading losses among regional markets on Wednesday, with the S&P/ASX 200 gaining about 1%.
Investors will watch for the release of Australia’s merchandise trade and retail sa
Asia stocks set to trade higher amid trade confusion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, spasx, watch, stocks, nikkei, amid, trade, tradefutures, asia, confusion, set, higher, uschina, investors


Asia stocks set to trade higher amid trade confusion

Stocks in Asia were set to trade higher on Thursday as investors digest recent developments on U.S.-China trade.

Futures pointed to a higher open for Japanese stocks, with the Nikkei futures contract in Chicago at 23,350 while its counterpart in Osaka was at 23,360. The Nikkei 225 last closed at 23,135.23.

Meanwhile, shares in Australia jumped in early trade after leading losses among regional markets on Wednesday, with the S&P/ASX 200 gaining about 1%. Investors will watch for the release of Australia’s merchandise trade and retail sales data for October, set to be released around 8:30 a.m. HK/SIN.

On the economic front, the Reserve Bank of India is expected to announce its interest rate decision at 2:15 p.m. HK/SIN.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, spasx, watch, stocks, nikkei, amid, trade, tradefutures, asia, confusion, set, higher, uschina, investors


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Treasury yields little changed as investors await economic data, auctions

U.S. government debt prices were little changed on Thursday as investors monitored U.S.-China trade talks and awaited a fresh batch of economic data. The yield on the benchmark 10-year Treasury note, which moves inversely to price, was flat at around 1.7818%, while the yield on the 30-year Treasury bond was also little changed at around 2.2359%. President Donald Trump also said Wednesday that he believed trade talks with Beijing were going “very well.” Market participants are closely monitoring


U.S. government debt prices were little changed on Thursday as investors monitored U.S.-China trade talks and awaited a fresh batch of economic data.
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was flat at around 1.7818%, while the yield on the 30-year Treasury bond was also little changed at around 2.2359%.
President Donald Trump also said Wednesday that he believed trade talks with Beijing were going “very well.”
Market participants are closely monitoring
Treasury yields little changed as investors await economic data, auctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: sam meredith
Keywords: news, cnbc, companies, tariffs, uschina, auctions, yield, investors, yields, report, data, limited, talks, trade, changed, await, goods, little, economic, treasury


Treasury yields little changed as investors await economic data, auctions

U.S. government debt prices were little changed on Thursday as investors monitored U.S.-China trade talks and awaited a fresh batch of economic data.

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was flat at around 1.7818%, while the yield on the 30-year Treasury bond was also little changed at around 2.2359%.

Market focus is largely attuned to global trade developments, following a media report suggesting the world’s two largest economies were on the cusp of signing a so-called “phase one” trade deal.

A Bloomberg report, which cited people familiar with U.S.-China trade talks, said both countries were inching closer to securing an agreement on the amount of tariffs that would be rolled back in a limited trade deal. President Donald Trump also said Wednesday that he believed trade talks with Beijing were going “very well.”

Market participants are closely monitoring the prospect of a limited trade agreement with 10 days to go before Washington is poised to impose even more tariffs on Chinese goods. Dec. 15 is the date when tariffs on another $156 billion in Chinese goods would go into effect.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: sam meredith
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Sterling jumps to 7-month high as investors bet on Conservative majority

Sterling surged to seven-month highs on Wednesday as investors raised their expectations for the ruling Conservative Party to win an outright majority, which could remove some of the political uncertainty that has weighed on the currency. Investors have welcomed the prospect of Britain avoiding another hung parliament. Polls have consistently given Johnson’s party a lead over the opposition Labour Party. While Johnson has vowed to take Britain out of the EU on Jan. 31, the Labour Party has said


Sterling surged to seven-month highs on Wednesday as investors raised their expectations for the ruling Conservative Party to win an outright majority, which could remove some of the political uncertainty that has weighed on the currency.
Investors have welcomed the prospect of Britain avoiding another hung parliament.
Polls have consistently given Johnson’s party a lead over the opposition Labour Party.
While Johnson has vowed to take Britain out of the EU on Jan. 31, the Labour Party has said
Sterling jumps to 7-month high as investors bet on Conservative majority Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04
Keywords: news, cnbc, companies, labour, expectations, majority, britain, win, 7month, conservative, investors, sterling, party, bet, sevenmonth, jumps, prospect, pound, high


Sterling jumps to 7-month high as investors bet on Conservative majority

Sterling surged to seven-month highs on Wednesday as investors raised their expectations for the ruling Conservative Party to win an outright majority, which could remove some of the political uncertainty that has weighed on the currency.

Investors have welcomed the prospect of Britain avoiding another hung parliament. Many appear to think a parliamentary majority under the right-leaning Conservative Party would do more good for the pound than ongoing worries about a more decisive break from the European Union should Prime Minister Boris Johnson win the Dec. 12 election.

Polls have consistently given Johnson’s party a lead over the opposition Labour Party. While Johnson has vowed to take Britain out of the EU on Jan. 31, the Labour Party has said it would push for a second referendum on the departure.

“The market continues to cut back on sterling short portfolios & hedges in expectation of certainty derived from single party majority expectations,” said Neil Jones, head of FX hedge fund sales at Mizuho bank.

Some investors also worry about what the Labour Party’s spending plans would do for government finances, although Labour leader Jeremy Corbyn says its proposals are fully costed.

By 0930 GMT, the pound had added 0.5% to touch $1.3063, its strongest since May.

Against the euro too, the pound rallied 0.5% to 84.855 pence, another seven-month high.

The pound was little moved by the final IHS Markit/CIPS UK Services Purchasing Managers’ Index survey data, which confirmed that Britain’s services sector shrank in November.

Sterling has soared since October, gaining 6% in the last two months, when the prospect of a disorderly no-deal Brexit quickly receded after the EU granted Britain a delay to its exit until Jan. 31.

Investors have since latched on to the prospect of Britain avoiding a hung parliament.

Some weakness in the greenback as also behind sterling’s rally, and triggered some technical demand for the British currency.

Traders reported some option structures above $1.30 fuelling some pent-up demand for the pound. Refinitiv data shows some large options of around $1.5 billion around $1.31, which could mean that sterling may hit resistance around that level.

Five-year credit default swaps (CDS) on British government debt are down around 5 basis points since the election was called in early-November, as expectations grew that the Brexit impasse could be breached, according to IHS Markit.

Investors could grow more cautious as elections approach, with two-week implied volatility, a contract straddling the election, rising steadily to the highest since May.


Company: cnbc, Activity: cnbc, Date: 2019-12-04
Keywords: news, cnbc, companies, labour, expectations, majority, britain, win, 7month, conservative, investors, sterling, party, bet, sevenmonth, jumps, prospect, pound, high


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European markets open slightly higher as investors await economic data

Market focus is largely attuned global trade developments after President Donald Trump said a limited trade agreement with China might have to wait until after the 2020 presidential election. Speaking to reporters in London on Tuesday, Trump said he had “no deadline” for striking a deal with Beijing. It had previously been expected the world’s two largest economies could sign a so-called “phase one” trade deal before the end of 2019. On the data front, Italy will publish composite PMI (Purchasin


Market focus is largely attuned global trade developments after President Donald Trump said a limited trade agreement with China might have to wait until after the 2020 presidential election.
Speaking to reporters in London on Tuesday, Trump said he had “no deadline” for striking a deal with Beijing.
It had previously been expected the world’s two largest economies could sign a so-called “phase one” trade deal before the end of 2019.
On the data front, Italy will publish composite PMI (Purchasin
European markets open slightly higher as investors await economic data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: sam meredith
Keywords: news, cnbc, companies, president, pmi, slightly, economic, higher, data, investors, await, markets, markit, trump, deal, european, london, trade, open, services


European markets open slightly higher as investors await economic data

The pan-European Stoxx 600 was up around 0.1% during early morning deals, with most sectors and major bourses in positive territory.

Market focus is largely attuned global trade developments after President Donald Trump said a limited trade agreement with China might have to wait until after the 2020 presidential election.

Speaking to reporters in London on Tuesday, Trump said he had “no deadline” for striking a deal with Beijing. It had previously been expected the world’s two largest economies could sign a so-called “phase one” trade deal before the end of 2019.

Earlier in the week, Trump threatened to slap duties against French goods and imposed tariffs on Argentina and Brazil imports. It appears to have dampened market sentiment at a time when many had hoped the U.S. and China might be able to de-escalate an ongoing trade war.

On the data front, Italy will publish composite PMI (Purchasing Managers’ Index) figures for November shortly after the opening bell.

France and Germany will both release Markit services PMI data for November slightly later in the session, while a final reading of euro zone Markit services PMI data for November will be released at around 9 a.m. London time.

In the U.K., several world leaders have gathered in London to mark the 70th anniversary of NATO.

The U.S. president is scheduled to hold a bilateral meeting with German Chancellor Angela Merkel, before holding a working lunch with representatives from the U.K., Greece and some central and eastern European countries.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: sam meredith
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Treasury yields tick higher as investors await employment data

Market players are monitoring high-level meetings between President Donald Trump and other NATO leaders, as the institution celebrates 70 years of existence. The U.S. Trade Representative announced Monday a list of French goods that could see tariffs of up to 100%. The decision came after France introduced a digital services tax, which the U.S. argues treats U.S. tech companies unfairly. Fed Vice Chairman for Supervision Randal Quarles is also due to speak at 10 a.m. ET and the U.S. Treasury is


Market players are monitoring high-level meetings between President Donald Trump and other NATO leaders, as the institution celebrates 70 years of existence.
The U.S. Trade Representative announced Monday a list of French goods that could see tariffs of up to 100%.
The decision came after France introduced a digital services tax, which the U.S. argues treats U.S. tech companies unfairly.
Fed Vice Chairman for Supervision Randal Quarles is also due to speak at 10 a.m.
ET and the U.S. Treasury is
Treasury yields tick higher as investors await employment data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: silvia amaro
Keywords: news, cnbc, companies, tick, yields, yield, treasury, higher, data, goods, investors, await, trump, employment, services, trade, tariffs, european


Treasury yields tick higher as investors await employment data

Market players are monitoring high-level meetings between President Donald Trump and other NATO leaders, as the institution celebrates 70 years of existence. There’s also further trade uncertainty after Trump told reporters in London that it might be better to wait until after the 2020 presidential election to conclude a trade deal with China.

At 01:40 a.m. ET, the yield on the benchmark 10-year Treasury note , which moves inversely to price, was higher at around 1.7208%, while the yield on the 30-year Treasury bond was also higher at 2.1712%

Meanwhile, France and the wider European Union have promised to retaliate against potential U.S. tariffs on French goods. The U.S. Trade Representative announced Monday a list of French goods that could see tariffs of up to 100%. The decision came after France introduced a digital services tax, which the U.S. argues treats U.S. tech companies unfairly. Other European countries, including the U.K. have plans to impose a digital tax.

At the same time, the U.S. Commerce Secretary Wilbur Ross said the Trump administration has not ruled out imposing tariffs on imported European autos, despite not announcing a decision in November on whether to put additional levies on cars in the region.

On the data front, there will be ADP payrolls out at 8:15 a.m. ET; followed by services PMIs at 9:45 a.m. ET and ISM nonmanufacturing data at 10 a.m. ET.

Fed Vice Chairman for Supervision Randal Quarles is also due to speak at 10 a.m. ET and the U.S. Treasury is not scheduled to issue any auctions Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: silvia amaro
Keywords: news, cnbc, companies, tick, yields, yield, treasury, higher, data, goods, investors, await, trump, employment, services, trade, tariffs, european


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