Financial markets saw a whirlwind of activity last week as Euro zone debt woes swayed investor sentiment from euphoric to fearful. Equity markets came under serious selling pressures after news of a Greek referendum reignited default fears. Confidence in the currency bloc quickly returned however as the Greeks rescinded their referendum and bullish investors were quick to pile into equity markets following the sell-off the day before. The European Central Bank interest rate cut further bolstered markets higher as investors were happy to see the ECB taking preemptive measures to ensure financial stability in the debt burdened region. Gold worked its way higher amidst the continuing uncertainty, and the precious metal closed right around $1,760 an ounce for the week.
Van Eck beefed up its lineup of international bond ETFs today, rolling out a product focused on Chinese debt traded in the “Dim Sum” bond market in Hong Kong. The new Market Vectors Renminbi Bond ETF (CHLC) will seek to replicate an index comprised of investment grade debt that is denominated in renminbi and available [...]
Wall Street was able to close out the week in solid positive territory, although investor worries remain escalated over the uncertainty still plaguing the debt-stricken Euro zone. Waves of optimism and improvements in investor confidence, following a better-than-expected employment report at home, helped stocks climb higher last week. Gold prices remain range-bound although the yellow [...]
Rydex, the firm behind the CurrencyShares suite of exchange-traded products, made a splash with the latest addition to its product lineup on Tuesday. The recently-launched CurrencyShares Chinese Renminbi Trust (FXCH) will offer exposure to the official currency of the People’s Republic of China, bringing the total number of currency products offered by the company up [...]
One of the biggest stories in global finance over the past few months has been China and their unwillingness to revalue their currency to what many Western nations see as an appropriate level. Some analysts believe that the yuan is undervalued by as much as 40%, potentially giving the People’s Republic an unfair advantage in [...]
Guggenheim, the Chicagoland ETF issuer that has been a pioneer in the target maturity date bond ETF space, may have plans to take its fixed income lineup international. The company recently made an SEC filing detailing plans for a China bond ETF. Details on the proposed fund were scarce–no ticker symbol, expense ratio, or even [...]
No matter where investors look in the developed world, the picture isn’t pretty. In the U.S. unemployment remains intolerably high, and uncertainty over the latest round of QE will continue to hang over stock markets. In Europe efforts to control surging deficits have been met with protests and public outrage, complicating the process of reeling [...]
Earlier this summer, investors around the world cheered an unexpected announcement out of Beijing, when the Chinese government announced that it would allow its currency to become more flexible against the U.S. dollar. But since June 19, the date of the landmark currency decision, the Chinese yuan has moved little, and the frustration towards China [...]
When the global economy transitioned into “recovery mode” following the latest recession, the emerging markets of the world jumped into the lead and quickly left their developed counterparts in the dust. Although advanced economies have resumed expansion, growth rates in the U.S. and Western Europe lag far behind the impressive figures being put up by [...]
A week that got off to a hot start on news of a floating yuan came to a close on a relatively tame note on Friday, despite news of a financial overhaul that will fundamentally alter the way big banks do business. There was no shortage of action this week, as new twists emerged in [...]
A week before the leaders of the Group of 20 economies were scheduled to meet in Toronto, China’s central bank announced that it will embrace policies that the international community has been promoting for years. In a somewhat unexpected development, Beijing stated its intention to make its exchange rate more flexible on Saturday night, ending [...]
