February 25, 2021
Small-capitalization stocks and related ETFs have been outperforming their large cap counterparts by the widest margin in over two decades as investors shift out of coronavirus pandemic plays and look to a broad economic recovery.
The
iShares Russell 2000 ETF (IWM), which tracks the widely observed Russell 2000 Index, increased 15.8% so far this year and jumped 42.1% over the past year. Meanwhile, the
iShares Core S&P 500 ETF (NYSEArca: IVV), which tracks the benchmark S&P 500 Index, gained 4.8% year-to-date and advanced 23.8% over the past year.
Through the end of last Friday, the Russell 2000 index of small companies climbed 15% and set 10 closing records in 2021, well above the S&P 500’s 4% gain, marking the widest such gap between the two indices through Feb. 19 since 2000, the Wall Street Journal reported.
BSP-Registered Foreign Portfolio Investments Yield Net Inflows in January 2021
02/25/2021 | 11:17pm EDT
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Message : February 25, 2021 BSP-registered foreign portfolio investments
a for January 2021 yielded net inflows of US$98 million resulting from the US$952 million gross inflows and US$854 million gross outflows for the month. This is a reversal from the net outflows of US$524 million recorded in December 2020. The US$952 million registered investments for January reflected a 12.2 percent decline compared to the US$1.1 billion recorded in December 2020 (or by US$132 million). About 62.1 percent of investments registered were in PSE-listed securities (pertaining mainly to banks, holding firms, property companies, food, beverage and tobacco companies and transportation services firms) while the remaining 37.9 percent went to investments in Peso government securities. The United Kingdom, Singapore, United States (US), Luxembou
Asset managers in Canada have been rushing to launch physically settled Bitcoin exchange traded funds (ETF), aiming to capitalise on a new market opportunity, after the country became the first to approve such ETFs this month. Canada has seen a spate of regulatory applications for Bitcoin ETF issuance, sparked by the launch of the Purpose Bitcoin ETF, the world's first ETF physically settled in the cryptocurrency. The Purpose ETF had a total asset value of about C$561.3 million ($449.8 million), as of Feb. 24, its manager told Reuters, and held about 9,647 bitcoins.
Yields on benchmark 10-year Treasury notes hit a one-year high of 1.53%, triggering a broad selloff on some of the high-flying growth stocks due to valuation concerns, Reuters reports.
“The concern is that we haven’t been in an environment of persistently rising inflation expectations so it creates this new dynamic for investors,” Max Gokhman, head of asset allocation at Pacific Life Fund Advisors, told Reuters. “The market is stretched, a lot of forward growth expectations have been baked in and that’s creating some of the excuse to blow up steam for some investors who were a little too bullish.”
By Natalia Gurushina, Chief Economist, Emerging Markets Fixed Income Strategy
Brazil’s key near-term risk is that the emergency aid bill will be approved without compensatory measures. Mexico’s electricity bill raises further concerns about reforms’ rollback.
The approval of the emergency aid bill is the most important near-term driver for Brazil’s assets. Investors are realists, and they understand that the bill will most likely be watered down. What
worries them much more is that the bill might be split into two parts―emergency spending and compensatory measures―which will be voted on separately. If the bill is approved without the compensatory measures,