One year on: Lessons of the March financial crisis
Next Monday marks one year since the start of a financial crisis on Wall Street that had the potential to go beyond the crash of 2008 and bring about the collapse of the global financial system.
As Randal Quarles, vice-chair for supervision on the Federal Reserve’s board of governors, told a conference organised by the Institute for International Finance (IIF) in November, it was, as the Duke of Wellington had said of the Battle of Waterloo, “a damn close-run thing.”
Traders work on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)
Press release content from Business Wire. The AP news staff was not involved in its creation.
VanEck Expands Its Global Product Lineup With Launch of New ETF in Peru
March 12, 2021 GMT
NEW YORK (BUSINESS WIRE) Mar 12, 2021
VanEck, a leader in global investment management, today announced the launch of the Fondo Bursátil VanEck El Dorado Perú ETF (Ticker: ETFPERUD), the firm’s first Peruvian-listed Exchange Traded Fund and in further expansion of VanEck’s strong presence in the Latin American marketplace.
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“Peru has a vibrant and fast-growing public equity market, but to this point gaining access to the largest and most liquid stocks in-market via a single point of entry has not been possible,” said Eduardo Escario, Director, International ETF Sales with VanEck. “This was despite the fact that Peru and many other countries in Latin America have pension funds and other large institutions that could benefit from a vehicle such as this. With the launch of
The sudden spike in interest for junk-rated bonds reflects the ongoing reflation trade that has spanned across assets as the economic outlook improves. The improved outlook has weighed on bond markets and set yields soaring higher, but it has also improved demand for relatively lower duration junk bond ETFs.
“What we’ve had in bond markets for much of the year to date is a selloff in duration, which has meant that high yield, which is high spread and low duration, has been the safer asset class,” Peter Chatwell, head of multi-asset strategy at Mizuho International Plc, told Bloomberg. “These flows reflect that, and we expect there will be further moves in that direction as U.S. growth becomes more broad based and helps to support the rest of the world.”
U.S. Bonds Still Disappoint. But EM Debt ETFs Are Going Strong March 12, 2021
Investors are still disappointed with many income-generating assets as interest rates remain low, but with the dollar weak, emerging markets debt is growing increasingly appealing. Enter the
PCY is based on the DBIQ Emerging Market USD Liquid Balanced Index. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index (the ‘Index’). The Index tracks the potential returns of a theoretical portfolio of liquid emerging markets US dollar-denominated government bonds issued by more than 20 emerging-market countries. The countries in the Index are selected annually pursuant to a proprietary index methodology, and the fund as well as the index are re-balanced and reconstituted quarterly.