Fund Library News Wire
| Friday, January 11, 2019
By Mike Keerma
Boosted by a tick down in the U.S. inflation rate for December, to an
annual 1.9%, dovish comments from U.S. Federal Reserve Board officials on
interest rate policy, and growing momentum in U.S.-China trade talks this
past week, markets made considerable gains on the week, continuing their
rally from late-December lows. Toronto’s
S&P/TSX Composite Index
gained 3.6% on the week, propelled by a 7.1% advance in the price of
crude oil, which has gained 13.7% in the past two weeks, as well as indications from
the Bank of Canada that it is pausing its rate-hike program for now as it
left its benchmark rate unchanged last week. The broad U.S. blue-chip
S&P 500 Composite Index
logged a 2.5% advance on the week, while the
Nasdaq Composite Index
* RBC and BlackRock form ETF alliance.
RBC Global Asset Management Inc. and BlackRock Asset Management Canada
Limited announced on Jan. 8 a strategic alliance that will bring the ETF
lineups offered by both companies together under a new brand to be named
RBC iShares. With $60 billion in assets under management, the new combined
lineup will be the largest in Canada with a total of 150 ETFs: 106 index
funds managed by BlackRock Canada, and 44 index, smart beta, and actively
managed funds managed by RBC GAM Inc. Five RBC ETFs will be merged into
similar iShares ETFs. Complete details of the proposed changes can be found
RBC press release.
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Market Activity page
regularly for active updates on key market indexes and commodities.
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