iShares MSCI Emerging Markets ETF (EEM) - NYSEARCA
  • Tue, Jun. 28, 7:39 AM
  • Wed, Jun. 15, 4:42 AM
    • Chinese stocks rose the most in two weeks today as investors shrugged off MSCI's decision not to add mainland shares to its key Emerging Markets Index (ETF: EEM).
    • This is the third year running it has given Chinese A-shares the thumbs-down, given lingering concerns about market accessibility.
    • MSCI noted that it would consider including the equities as part of its 2017 review, but did not rule out a potential off-cycle announcement.
    • Shanghai +1.6% to 2,887.
    • ETFs: FXI, ASHR, YINN, CAF, FXP, YANG, PGJ, GXC, MCHI, PEK, CHN, TDF, XPP, ASHS, CNXT, YXI, CHAU, YAO, CN, FCA, GCH, CHAD, CXSE, KBA, JFC, AFTY, HAHA, CNHX, ASHX, XINA
    | Wed, Jun. 15, 4:42 AM | 2 Comments
  • Tue, Jun. 14, 10:23 PM
    • "International institutional investors clearly indicated that they would like to see further improvements in the accessibility of the China A shares market before its inclusion in the MSCI Emerging Markets Index (ETF: EEM)," says Remy Briand, global head of research at MSCI.
    • The decision is a surprise to most and a blow to Beijing which is eager to attract more foreign capital to the Chinese stock market. The MSCI Emerging Markets Index is tracked by money managers with about $1.5T in assets.
    • Chinese regulators had recently stepped up reform efforts in hopes of winning inclusion by MSCI, and while MSCI acknowledged those moves, it says a "period of observation" is necessary to assess effectiveness.
    • The Shanghai Composite is up 0.35% in early Wednesday action.
    • ETFs: FXI, ASHR, YINN, CAF, FXP, YANG, PGJ, GXC, MCHI, PEK, CHN, TDF, XPP, ASHS, CNXT, YXI, CHAU, YAO, CN, FCA, GCH, CHAD, CXSE, KBA, JFC, AFTY, HAHA, CNHX, ASHX, XINA
    | Tue, Jun. 14, 10:23 PM | 2 Comments
  • Tue, Jun. 14, 4:13 AM
    | Tue, Jun. 14, 4:13 AM | 2 Comments
  • Wed, Jun. 8, 9:22 AM
    | Wed, Jun. 8, 9:22 AM
  • Thu, Jun. 2, 2:54 PM
    • ETF creations of $49B this year through the end of May are only about half that for the same period in 2015, according to ETF.com.
    • Despite a swoon in the price of gold during May, most of the $12B that rolled into commodity funds went to gold ETFs, with GLD alone bringing in $8.8B.
    • Fixed-income ETFs had net inflows of $37.6B, led by TIPS and Treasury-focused funds. The iShares Core U.S. Aggregate Bond ETF (NYSEARCA:AGG) pulled in more than $5B.
    • Equity funds accounted for nearly all of  the largest asset losers, the SPDR S&P 500 ETF seeing $4.4B in net outflows, and the iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) $3.18B.
    | Thu, Jun. 2, 2:54 PM | 7 Comments
  • Wed, Apr. 27, 3:37 PM
    • The Nasdaq has more than halved its 1% decline and the S&P 500 and Dow have moved nicely into the green as markets digest the FOMC policy statement. The consensus thinking at the moment holds that the committee gave little indication it's currently inclined to hike rates at the June meeting.
    • The 10-year Treasury yield is off a full seven basis points to 1.86%, and Fed Funds futures are pricing in about a one-in-four chance of a 25 basis point move in June.
    • There's particular strength being seen in emerging markets ETFs, with EEM now higher by 0.75% on the session
    | Wed, Apr. 27, 3:37 PM | 6 Comments
  • Thu, Mar. 31, 5:24 AM
    • MSCI is resuming discussions on including Chinese mainland-listed shares in its Emerging Markets Index (ETF: EEM), though it expressed concern about barriers to investment.
    • The move would be a coup for the country, and potentially bring billions of dollars into Chinese shares from funds that passively track the index.
    • Chinese markets rallied around 50% in the first half of 2015, but slumped over 30% from mid-June after MSCI decided not to include A-shares in its benchmark.
    • Previously: MSCI paves road for A-share inclusion through ADRs (Nov. 02 2015)
    • Previously: MSCI: China A-shares still on track to join benchmark (Sep. 02 2015)
    | Thu, Mar. 31, 5:24 AM
  • Thu, Feb. 25, 11:14 AM
    • Led by chief economist Willem Buiter, Citi Research sees global growth of 2.5% this year - the same as 2015, but down 20 basis points from a forecast one month ago and 90 bps from a few months back. Factoring in "mismeasurement" in Chinese GDP, "genuine" global growth will barely clock in above 2%.
    • The risks to this forecast, however, are likely to the downside, says Buiter, meaning a growing chance of sub-2% growth, which could be termed a recession, or at least a growth recession.
    • How to play? The team no longer expects a significant rate hike cycle from the Fed, meaning the strong dollar (UUP, UDN) trade is done for.
    • Dollar weakness, however, makes emerging markets (EEM, VWO) look more attractive, and Citi raises EM to Overweight.
    • A weaker dollar also means yen (NYSEARCA:FXY) strength, so Citi cuts Japan (EWJ, DXJ) to Neutral.
    | Thu, Feb. 25, 11:14 AM | 2 Comments
  • Tue, Jan. 5, 3:13 PM
    • Investors pulled a record $72.6B, or 8% of AUM, from emerging market funds last year, according to EPFR, well more than the $39B pulled amid the global financial crisis in 2008.
    • 2015 was the third consecutive year of outflows, with $23B exiting in 2014 and $16B in 2013.
    • Since July, emerging market funds have seen outflows in 22 of 25 weeks.
    • Capitulation? Not yet, says Morgan Stanley's Jonathan Garner. In the current streak of nine straight weeks of outflows, $12.5B, or 1.7% of AUM has exited. It's typically taken outflows of more than 4% of AUM over a 10-week stretch to create a strong tactical buy signal for EM.
    • ETFs: EEM, VWO, EDC, EDZ, SCHE, IEMG, EMF, MSF, EEV, ADRE, EET, EUM, GMM, DBEM, EEME, EMCR, FEM, XSOE, EWEM, HEEM, EMLB, EMSA, EMFT, KEMP, LLEM, EDBI, KLEM, GEM
    | Tue, Jan. 5, 3:13 PM | 1 Comment
  • Nov. 20, 2015, 4:13 PM
    | Nov. 20, 2015, 4:13 PM | 4 Comments
  • Nov. 20, 2015, 12:53 PM
    • There have been emerging market equity fund outflows for 16 of the past 19 weeks, and debt fund outflows in 23 of the past 26, according to the latest fund flow data from BAML. Year-to-date fund outflows of $86B is tops since 2008.
    • For perspective, European equity funds have seen inflows for 25 of the past 27 weeks.
    • While China's devaluation complicates things, "humiliated emerging markets are ripe for a bounce as Fed expectations peak," says the team.
    • ETFs: EEM, VWO, DEM, EDC, ETF, FM, DGS, EDZ, SCHE, EEMV, IEMG, EEB, EDIV, EMF, MSF, DVYE, FRN, EWX, EEV, BIK
    | Nov. 20, 2015, 12:53 PM | 2 Comments
  • Nov. 17, 2015, 11:14 AM
    • The latest BAML fund manager survey shows 81% of pros expecting a rate hike in December, up from only 47% a month ago.
    • As a result, they're buying greenbacks, making the long dollar (NYSEARCA:UUP) trade the survey's most-crowded - with 32% overweighting the position. Next most-crowded are short commodity stocks (15% underweight) and short emerging market stocks (15% underweight).
    • BAML's Michael Hartnett says November is the "biggest long developed markets versus emerging markets (EEM, VWO) ever." It's also the second-largest overweight eurozone stocks ever, and the third-largest overweight bank names.
    • ETFs: UUP, UDN, FORX, USDU
    | Nov. 17, 2015, 11:14 AM | 3 Comments
  • Nov. 13, 2015, 2:02 AM
    • MSCI has outlined which overseas-listed Chinese shares will be added to its Emerging Markets Index (ETF: EEM) from Dec. 1, a move that is likely to draw investments of $70B.
    • ADRs to be included: 58.com (NYSE:WUBA), Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU), Ctrip.com (NASDAQ:CTRP), JD.com (NASDAQ:JD), NetEase (NASDAQ:NTES), New Oriental Education (NYSE:EDU), Qihoo 360 (NYSE:QIHU), Qunar (NASDAQ:QUNR), SouFun (NYSE:SFUN), TAL Education (NYSE:XRS), VipShop (NYSE:VIPS), Youku Tudou (NYSE:YOKU) and YY.
    • Stocks listed in mainland China, known as A-shares, are still under review for inclusion in the index.
    • Previously: MSCI paves road for A-share inclusion through ADRs (Nov. 02 2015)
    | Nov. 13, 2015, 2:02 AM | 26 Comments
  • Nov. 12, 2015, 12:13 PM
    | Nov. 12, 2015, 12:13 PM | 3 Comments
  • Nov. 2, 2015, 11:30 AM
    • U.S. equity ETFs took in more cash in October ($10B) than the rest of the year combined (Jan-Sept $6B), according to Bloomberg. The averages in October also happened to have their best month in four years. Coincidence?
    • Corporate bond ETFs (LQD) brought in $8.3B - the most money ever in one month. Most of that was in the particularly beaten-up high-yield sector (HYG, JNK), which brought in $5.6B - also a record. Up until last month, junk ETFs had seen net outflows year-to-date.
    • Emerging markets ETFs broke a 12-month string of outflows, bringing in $1.6B. Noteworthy are $900M of inflows for popular buy-and-hold ETFs like IEMG, along with $700M of inflows for a hot-money favorite like EEM.
    • Previously a golden boy sector for inflows this year, health care (NYSEARCA:XLV) saw $1.2B of cash exit in October, sparked by the Hillary Clinton-related biotech selloff.
    • After taking in $4.9B YTD through September, German ETFs EWG and HEWG saw $600M in outflows in October despite the market's rally. Both funds have about 15% exposure to auto manufacturers (like Volkswagen).
    | Nov. 2, 2015, 11:30 AM | 1 Comment
EEM Description
The iShares MSCI Emerging Markets Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in emerging markets, as represented by the MSCI Emerging Markets Index.
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