Last updated: Apr-18-2019

    
 
Fund Library News Wire
4/22/2019 8:20:37 PM
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Current news, updates, and market information.


By Fund Library News Wire | Thursday, April 18, 2019

By Mike Keerma

Mixed first-quarter earnings reports kept investors on the defensive as the major U.S. stock market indices remained mostly flat on the week. Canada’s benchmark S&P/TSX Composite Index logged a near 1% advance on the week, on slightly accelerating inflation in March, rising retail sales in February, and a narrowing trade deficit. In the U.S., absent a catalyst to move markets higher (for example a U.S.-China trade deal or confirmation of a bottom to soft growth in China and Europe), the S&P 500 Composite Index flatlined on the week, while the Nasdaq Composite Index gained a marginal 0.2%.


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By Fund Library News Wire | Friday, April 12, 2019

By Mike Keerma

Spurred on by Chinese trade data, a new service from Walt Disney & Co. (NYSE: DIS), and positive quarterly earnings reports from two of America’s largest banks, JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC), investors bid the big North American stock indices to weekly gains, with the S&P 500 Composite Index edging towards its record high of 2,940.91, while gaining 0.5% on the week. The Nasdaq Composite Index also crept towards its 52-week high of 8,133.30, advancing 0.6% on the week. Toronto’s S&P/TSX Composite Index also made strides back towards its record high of 16,586.46 set last July, while also gaining 0.5% on the week as both financials and energy issues rallied.


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By Fund Library News Wire | Friday, April 05, 2019

By Mike Keerma

Buoyed by a better-than-expected U.S. job creation report for March, the major North American stock market indices logged strong gains for the week, with both the S&P 500 Composite Index and the Nasdaq Composite Index ahead over 2%, putting the Nasdaq’s year-to-date gain now at nearly 20%. Toronto’s benchmark S&P/TSX Composite Index benefitted from a surge in energy issues as crude oil gained over 5% on the week, while financials maintained strength, with the S&P/TSX Capped Financial Index gaining 2.4% on the week.


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By Fund Library News Wire | Thursday, April 04, 2019



By Felix Narhi, CIO & Portfolio Manager, Penderfund Capital Management

We can ignore reality but we cannot ignore the consequences of ignoring reality.”
– Ayn Rand


Last year was a tough one for investors, particularly the fourth quarter. There was virtually nowhere to hide. Unless you held cash, you likely experienced declines in annual returns. Although it always feels like an unusually difficult year when one is actually living through it, statistically speaking, from a long-term perspective, last year was perfectly normal. Here’s our take on the new normal and the need to adapt.


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By Fund Library News Wire | Friday, March 29, 2019

By Mike Keerma

Despite a recent inversion of the U.S. government bond yield curve and yet another rejection of a Brexit proposal by the British Parliament, the major stock market indices posted solid gains on the week, as investor sentiment was buoyed by a Tweet from U.S. Treasury Secretary Steven Mnuchin following the conclusion of this round of U.S.-China trade and tariff talks in Beijing. Mnuchin indicated further talks will take place in Washington next week. The S&P 500 Composite Index posted its best quarterly gain since 2009.


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By Fund Library News Wire | Tuesday, March 26, 2019



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

Monetary policy disruption was on full display last week: The U.S. Federal Reserve (Fed) announced a momentous change to its normalization plan, the yield curve inverted and sparked investor concerns, and a noted Fed critic was nominated to the central bank’s Board of Governors.


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By Fund Library News Wire | Friday, March 22, 2019

By Mike Keerma

The inversion of the U.S. yield curve, for the first time since 2007, caused a round of market jitters that saw the major North American indices on Friday post some of their biggest single-day losses since December, and end the week in the red. The S&P 500 Composite Index fell 2.0% on Friday, while the Nasdaq Composite Index dropped 2.5%. Toronto’s S&P/TSX Composite Index fell 1.0% on the day.


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By Fund Library News Wire | Monday, March 18, 2019



By Peter Westaway, Chief Economist, Vanguard Asset Management (Europe)

When people in the U.K. woke up on June 24, 2016, to the news that the country had voted to leave the E.U. (or “Brexit” as it is now commonly known), little did they know that 2½ years later, the future of the U.K.’s relationship with Europe would still be unclear. As debate and negotiation continue, what should investors do?


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By Fund Library News Wire | Friday, March 15, 2019

By Mike Keerma

The major U.S. stock market gauges piled on the gains this past week, as investors reacted positively to comments from China’s Premier Li Keqiang that while a trade agreement between China and the U.S. was still several weeks away, China remained “very responsible and reasonable.” U.S. Treasury Secretary Steven Mnuchin said there was still a lot of work to do. Li also stated that China would keep stimulus measures in place in an effort to reignite China’s economic growth. The S&P 500 Composite Index advanced 2.9% on the week as a result, while the tech-weighted Nasdaq Composite Index gained 3.8%. Toronto’s S&P/TSX Composite Index rode the coat-tails of U.S. markets, gaining 1.0% on the week, helped along by a 4.2% weekly surge in crude oil, as the index touched a five-month high at midday on Friday.


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By Fund Library News Wire | Tuesday, March 12, 2019

  

By Mark Raes, Head of Product, ETFs & Mutual Funds, BMO Global Asset Management Inc.

ETFs continue to make inroads into fixed-income mandates, based on their liquidity, low cost, and as an effective way to efficiently reposition portfolios. Of late, we have seen the emergence of active bond ETFs that have caused investors to take a fresh view of their portfolios.


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By Fund Library News Wire | Friday, March 08, 2019

By Mike Keerma

The week ended on a downbeat for major North American stock indices. The main market gauges all lost money, as investors were rattled by a low monthly U.S. job-creation report for February. In addition, Chinese export reportedly fell by 20% in February, while the European Central Bank took a decidedly more dovish tone on monetary policy, now extending its low rate regime until 2020 from an earlier plan to commence rate hikes this year. The S&P 500 Composite Index slumped 2.2% on the week, while the Nasdaq Composite Index retreated 2.5%. Toronto’s S&P/TSX Composite Index fared better, edging down just below breakeven on the week, as a positive jobs report and a slight weekly increase in the price of crude oil helped buoy investor sentiment for Canadian issues.


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By Fund Library News Wire | Friday, March 01, 2019

Reacting to strong U.S. GDP readings and the potential for a U.S.-China trade deal, the U.S. blue-chip S&P 500 Composite Index closed on Friday above the 2,800 mark for the first time since Nov. 8, advancing 0.4% for the week, while posting a 3.0% gain for February. The S&P 500 is now up 11.8% year to date, and is near to recovering losses sustained during the year-end stock market correction. Likewise, the technology-weighted Nasdaq Composite Index is ahead nearly 1% on the week, having closed February with a 3.4% monthly gain and advancing 14.5% year to date by Friday’s close. Toronto’s benchmark S&P/TSX Composite Index logged a 0.3% gain for the week, and was up nearly 3% in February, with a 12.2% year-to-date advance as of Friday’s close. Crude oil dropped 2.5% on the week, but is still ahead 22.8% year to date.


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By Fund Library News Wire | Thursday, February 28, 2019



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

Last week was momentous for one specific reason: The U.S. Federal Reserve Board’s (Fed) Federal Open Market Committee (FOMC) released minutes from its January meeting, which detailed the significant “about face” that the Fed has made over the last few months. In my view, the FOMC’s insights, along with apparent progress in U.S.-China trade talks, could enable stocks to move higher in the short term – but I’m also wary of negative implications that could lie beneath the surface.


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By Fund Library News Wire | Friday, February 22, 2019



By Kurt Reiman, Director, Chief Investment Strategist for Canada

Canadian stocks are off to a strong start to begin 2019. Not only has the S&P/TSX Composite Index risen roughly 9% to the beginning of February – erasing two thirds of last year’s decline – but it is also one of the world’s leading equity markets so far this year (see Chart 1). Given the Canadian equity market’s procyclical behavior, it’s not surprising to see it rally stronger than other global bourses in a risk-on period like the one we’re in now. It’s also quite possible that Canadian stocks were sufficiently on sale to warrant a bounce off levels that were consistent with deeply pessimistic sentiment: Canadian stocks were, and still are, trading at one of the cheapest levels to developed market equities in the past three decades. So the question is, how confident are we that this stellar performance can continue? Our answer: not very.


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By Fund Library News Wire | Friday, February 22, 2019

By Mike Keerma

The potential for a successful trade-tariff deal in negotiations between the U.S. President Donald Trump and China’s Vice Premier Liu He helped boost investor sentiment on Friday, giving the major North American stock indices fresh weekly gains. While a weak quarterly earnings report by food-processing behemoth Kraft Heinz Co. (NYSE: KHC) took some of the shine off market optimism, the major market gauges still closed Friday with gains for both the day and the week. The S&P 500 Composite Index advanced 0.6% on the week, while the Nasdaq Composite Index rose 0.7%. A 2.6% weekly gain in the price of crude oil also helped Toronto’s benchmark S&P/TSX Composite Index rise to a 1.1% week-over-week gain.


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By Fund Library News Wire | Friday, February 15, 2019

By Mike Keerma

The big North American stock indices posted strong weekly gains on hopes that the U.S. and China will reach a trade agreement of some sort before the March 1 deadline. U.S. President Donald Trump’s declaration of a state of emergency as a tactic for funding a wall at the Mexican border didn’t have an impact on stock markets, as the S&P 500 Composite Index advanced 2.5% on the week, while the technology-weighted Nasdaq Composite Index rallied 2.4%. Toronto’s benchmark S&P/TSX Composite Index gained 1.3% on the week, as the price of crude oil surged 5.8% on the week, boosting energy issues, which comprise about an 18% weighting on the index.


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By Fund Library News Wire | Tuesday, February 12, 2019

A SPECIAL REPORT FROM



By Nash Swamy, Junior Analyst, Analytics & Data, Fundata Canada Inc.

When analyzing the Canadian investment space, it is crucial to ask what are fund managers doing with the $1.85 trillion allocated to mutual funds, ETFs and other investment vehicles. Investment funds are often packaged and sold to investors on some criteria, such as targeting U.S. large caps, emerging markets, or specific sectors. But before a Canadian investment manager can invest millions in exchanges around the world, a simple exchange rate transaction must occur as a prerequisite to participate in global capital markets. By analyzing the deployable cash in investment funds, we can assess the street’s market sentiment and get a fix on the liquidity of investment funds on a cash and cash-equivalents basis.


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By Fund Library News Wire | Friday, February 08, 2019

By Mike Keerma

The major North American stock market indices closed Friday with gains on the week, as investors overcame trepidation about the progress of U.S.-China trade talks. U.S. President Donald Trump confirmed that he would not be meeting with China’s President Xi Xinping before the March 1 deadline for a trade deal. Meanwhile, both the Bank of England and the European Commission cut growth forecasts for both the U.K. and the eurozone overall, as uncertainty over Brexit and the slowdown in China’s economic growth impact the European economy. Canada’s S&P/TSX Composite Index gained 0.8% on the week, as financials and industrials helped buoy the market against a slide in energy issues, facing headwinds from a 4.7% drop in crude oil. The U.S. broad blue-chip S&P 500 Composite Index closed marginally higher on the week, while the Nasdaq Composite Index gained 0.5%.


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By Fund Library News Wire | Tuesday, February 05, 2019



By Hussein Rashid, Vice President, ETF Strategist, Invesco Canada

One of the key themes I’m watching for in 2019 is a continuation of the equity volatility we saw in 2018. The return of volatility may have caught some investors off guard, having grown complacent in the relatively docile 2017. How rough was 2018? Through the first three quarters of the year, the S&P 500 was up 10.6% – yet the index’s full-year return was -4.4%.


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By Fund Library News Wire | Friday, February 01, 2019

By Mike Keerma

The main North American market gauges posted gains for another week, against a backdrop of rising U.S. job creation and growing manufacturing activity. The blue-chip S&P 500 Composite Index gained 1.6% on the week, posting a 7.9% advance in January. The tech-weighted Nasdaq Composite Index rose 1.4% on the week, gaining 9.5% in the month. Meanwhile, Toronto’s S&P/TSX Composite Index rallied 1.0% on the week, gaining 8.5% in January overall, as crude oil prices rose 3.3% in the week, and surged 18.5% in the month.


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