PowerShares S&P 500 Quality Portfolio ETFNYSEARCA
Tue, Mar. 22, 3:29 PM
- The PowerShares S&P Emerging Markets High Beta Portfolio (NYSEARCA:EEHB) changes its name to the PowerShares S&P Emerging Market Momentum Portfolio with ticker EEMO. The index goes from the S&P Emerging Market High Beta Index to the S&P Momentum Emerging Plus LargeMidCap Index.
- The PowerShares S&P International Developed High Beta Portfolio (NYSEARCA:IDHB) changes its name to the PowerShares S&P International Developed Momentum Portfolio with ticker IDMO. The index goes from the S&P International Developed High Beta Index to the S&P Developed ex US & South Korea LargeMidCap Index.
- The PowerShares S&P International Developed High Quality Portfolio (NYSEARCA:IDHQ) changes its name to the PowerShares S&P International Developed Quality Portfolio (ticker remains). The index goes from the S&P International Developed High Quality Rankings Index to the S&P Quality Developed ex US LargeMidCap Index.
- The PowerShares S&P 500 High Quality Portfolio (NYSEARCA:SPHQ) changes its name to the PowerShares S&P 500 Quality Portfolio (ticker remains the same). The index goes from the S&P 500 High Quality Rankings Index to the S&P 500 Quality Index.
Tue, Mar. 15, 5:52 AM
- In a note this morning, analysts at Jefferies sound a bullish tone, noting that relative calm has returned to the high-yield debt market and money-flows are normalizing. In their words:
- "U.S. monetary conditions have loosened as the inflation rate has climbed and real rates have gone negative despite last year's rate hike. China's monetary conditions through the double whammy of a cut in the RRR and increased bank loan growth have further eased monetary conditions in the dollar bloc.
- "The drop in non-OPEC oil production (primarily led by the U.S.) and tentative verbal agreements amongst some OPEC members appears to have put a bottom in oil prices.
- "The bottom line is that the 'perfect storm' is passing and that a number of unrelated factors have caused monetary conditions to ease."
- Contrast Jefferies' view with that of Morgan Stanley, who said yesterday there's a 30% chance of a U.S. recession.
- ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, IVV, UPRO, SPXU, PSQ, TQQQ, SPXL, SPLV, RSP, SPXS, QID, SQQQ, PRF, QLD, CRF, DOG, DXD, UDOW, RWL, EPS, SDOW, VV, VFINX, USA, SCHX, DDM, IWB, OEF, ZF, SPHB, MGC, SPHQ, QQEW, QQQE, FEX, VONE
Thu, Mar. 10, 4:54 PM
- In a note this morning, Goldman does an about-face on its recent advice to buy S&P calls:
- "The recent relief rally might be short-lived, especially with oil prices now at the upper end of our commodities team's forecast range for 1H 2016.
- "We make no changes to our asset allocation at this stage as the relief rally has been too fast, in our view. We still do not feel comfortable taking more risk in equities until valuation or growth becomes more attractive.
- "Although we believe the market has been too pessimistic, we think a key driver of the relief has been higher oil prices. With oil at the upper end of our commodities team's forecast range for 1H 2016, it could drive further volatility as we do not believe oil weakness is necessarily over.
- March 9: Goldman: Don't bet on bond market convergence
- ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, IVV, UPRO, SPXU, PSQ, TQQQ, SPXL, SPLV, RSP, SPXS, QID, SQQQ, PRF, QLD, CRF, DOG, DXD, UDOW, RWL, EPS, SDOW, VV, VFINX, USA, SCHX, DDM, IWB, OEF, ZF, SPHB, MGC, SPHQ, QQEW, QQQE, FEX, VONE, JKD, XLG, SPLX, EEH
Wed, Jan. 13, 5:06 AM
- The SocGen strategist says the West is about to be hit by a wave of deflation from emerging market economies and that central banks were unaware of the disaster about to hit them.
- “I realize most people think I am talking utter garbage but I’m used to that. And maybe I am! But the truth will come out in the next recession which may be pretty close now,” Edwards says.
- “The previous bear market low was in March 2009 when the S&P reached 666. I think we’ll go below that within this bear market.
- “Developments in the global economy will push the U.S. back into recession. The financial crisis will reawaken. It will be every bit as bad as in 2008-09 and it will turn very ugly indeed.
- “Emerging market currencies are still in freefall. The U.S. corporate sector is being crushed by the appreciation of the dollar.
- He says the U.S. economy is in far worse shape than the Fed realizes: “We have seen massive credit expansion in the U.S. This is not for real economic activity; it is borrowing to finance share buybacks.”
- Edwards attacked the “incredible conceit” of central bankers, who had failed to learn the lessons of the housing bubble that led to the financial crisis and slump of 2008-09. “They didn’t understand the system then and they don’t understand how they are screwing up again. Deflation is upon us and the central banks can’t see it.”
- Note: Edwards's "Ice Age" thesis goes back to Aug. 2008, and was reiterated in Dec. 2009, Sept. 2011, and May 2012.
- ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, IVV, UPRO, PSQ, SPXU, TQQQ, SPXL, SPLV, RSP, SPXS, QID, PRF, SQQQ, QLD, CRF, DOG, DXD, RWL, UDOW, EPS, SDOW, VV, USA, SCHX, DDM, VFINX, IWB, OEF, ZF, SPHB, MGC, SPHQ, BXUB, QQEW, FEX, QQQE, VONE, XLG, JKD, EEH, SPLX, SFLA, BXUC, EQL, QQXT, ROLA, IWL, SPUU, ONEK, EQWL, EWRI, LGLV, ERW, EQAL, FWDD, FMK, ZLRG
Mon, Jan. 11, 4:38 AM
- JPM strategists note that earnings expectations have been managed aggressively going into earnings season. Four months ago, the "hurdle rate" for S&P 500 stocks was +5% Y/Y; now it's -4% Y/Y. “If this were to materialize, it would be the weakest quarter for EPS delivery so far in the upcycle.”
- Energy sector earnings consensus signals only single-digit losses, while oil prices are 36% below the 21015 average.
- Sees euro-zone earnings outperforming U.S. for second year running.
- Overall, firm says risk/reward for stocks is poor. Use bounces as selling opportunities.
- ETFs: SPY, QQQ, DIA, SH, XLE, SSO, SDS, VOO, IVV, VDE, UPRO, PSQ, SPXU, ERX, TQQQ, OIH, SPXL, SPLV, XOP, RSP, SPXS, QID, PRF, SQQQ, ERY, FCG, QLD, CRF, DOG, DIG, GASL, DXD, PBW, RWL, UDOW, EPS, DUG, SDOW, BGR, XES, IYE, VV, USA, IEO, SCHX, DDM, VFINX, IEZ, QCLN, FENY, PXE, IWB, OEF, PXI, ZF, FIF, PXJ, SPHB, MGC, SPHQ, PSCE, BXUB, NDP, RYE, QQEW, FEX, QQQE, VONE, XLG, JKD, FXN, EEH, SPLX, PUW, SFLA, BXUC, EQL, QQXT, DDG, ROLA, IWL, SPUU, ONEK, HECO, EQWL, EWRI, LGLV, ERW, FWDD, EQAL, ZLRG, FMK, CFA, SYE, CFO, LLSP, UDPIX, SBUS, USWD, USSD, DRIP, GUSH, OTPIX, QUS, RYARX, GSLC
Mar. 5, 2014, 12:27 PM
- First Trust will be growing its product base on March 6th with the launch of the Dorsey Wright Focus 5 ETF (FV).
- The fund is based on the Dorsey Wright systematic momentum strategy for sector rotation and will invest in ETFs in the index.
- "This is a strategy that Dorsey Wright created and has maintained for years," said Tom Dorsey, President & CEO of Dorsey, Wright & Associates; "I personally use the strategy in my portfolio as an important piece of the core."
- Other momentum and sector rotation ETFs: CAPE, SPHQ, HUSE, GSAX, GSGO, GSMA