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PIMCO Australia Bond Index ETF (AUD)

- NYSEARCA
AUD is defunct since October 1, 2014. Lack of investor interest
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  • May 8, 2014, 4:07 AM
    • Australia's jobless rate held steady at 5.8% in April and came in just below consensus of 5.9%.
    • The number of people in work climbed 14,200 after rising 22,000 a month earlier and topped consensus of +6,750.
    • The number of full-time jobs rose 14,200 following a drop of 22,800, while that for part-time positions was flat vs +40,200.
    • The participation rate slipped to 64.7% from 64.8%.
    • The increased number of jobs comes after the Reserve Bank of Australia left its benchmark interest rate at a record-low 2.5% this week amid slowing inflation and ahead of expected cuts in government spending.
    • The S&P/ASX 200 is +0.75%, while the AUD-USD is +0.6% at $0.9381. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Apr. 23, 2014, 2:31 AM
    • Australian CPI eased to +0.6% on quarter in Q1 from +0.8% in Q4 and came in below consensus that was also +0.8%.
    • On year, inflation rose to 2.9% from 2.7% but was below forecasts of 3.2%. The latest figure compares with the Reserve Bank of Australia's target of 2-3%.
    • Core CPI +0.5% on quarter vs +0.9% and +0.7%. On year, core inflation +2.6% vs +2.6% and +2.9%.
    • The low inflation could cool speculation that the Reserve Bank of Australia may raise interest rates from a record low of 2.5%, especially with house prices surging and amid the prospect of a looming building boom.
    • "The Reserve Bank can comfortably keep interest rates at exceptionally low levels over the near term," says economist Savanth Sebastian. "Whichever way you cut it, inflation is well and truly in check."
    • The S&P/ASX 200 is +0.7% and the AUD-USD is -0.9% at $0.9285. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Apr. 13, 2014, 6:11 AM
    • Bill Gross' and Mohamed El-Erian's different styles made "very good complements" in serving Pimco's clients and "leading the firm forward through both smooth and rough markets," the latter has told the WSJ. "That worked very well for a long time, until last year."
    • The WSJ describes El-Erian as having a "deliberate manner," which contrasted with Gross' "freewheeling style." El-Erian's comments come after he resigned in January and following media articles highlighting the break-down in the relationship between the men.
    • Still, El-Erian maintained that he "always had" and still has "an enormous amount of respect for Bill."
    • El-Erian also highlighted the desire to see his family more as another reason why he resigned from Pimco.
    • Pimco's parent company is Allianz (AZSEY).
    • Pimco funds: AUD, BABZ, BUND, CAD, CORP, DI, FIVZ, FORX, GOVY
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    | 8 Comments
  • Apr. 1, 2014, 2:22 AM
    • The Reserve Bank of Australia has left its overnight cash-rate target at a record low of 2.5%, as anticipated, and again indicated that it expects a "period of stability in interest rates."
    • "The decline in the exchange rate from its highs a year ago will assist in achieving balanced growth in the economy, but less so than previously as a result of the rise over the past few months," said RBA Governor Glenn Stevens.
    • The S&P/ASX 200 closes -0.1%, while the Australian dollar is +0.1% at $0.9272. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Mar. 13, 2014, 3:31 AM
    • The number of full-time Australian jobs has risen by the largest amount since 1991, jumping by 80,500 in February vs just 2,700 in January. The increase is also the second-largest ever and indicates that the central bank's policy of record-low interest rates is having an impact.
    • The overall number of jobs increased by 47,300 vs 18,000 previously and consensus that was 18,000 also.
    • The number of part-time jobs fell by 33,200 vs growth of 3,400 in January.
    • As expected, the unemployment rate held stead at 6%.
    • The "super strong result" should ease concerns about the labor market, says economist Savanth Sebastian. "Central bank policy makers are comfortable with the way the recovery is panning out. The housing recovery continues to gather momentum, while rising wealth levels are supporting confidence."
    • The S&P/ASX 200 rose 0.5%, while the Australian dollar is +0.8% at $0.9063.
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Mar. 7, 2014, 5:22 AM
    • Bill Gross has accused departing Pimco (BOND) CEO Mohamed El-Erian of "trying to undermine" him, telling Reuters that he has evidence that El-Erian "wrote" a recent WSJ article that described the breakdown in the men's relationship and didn't portray Gross in a particularly flattering light.
    • When asked what the evidence was, Gross replied: "You're on his side. Great, he's got you, too, wrapped around his charming right finger."
    • Gross also indicated that he has monitored El-Erian's phone calls.
    • A Pimco spokesman later denied that Gross made the comments that Reuters attributes to him, while the WSJ hotly refuted that El-Erian "wrote" the article.
    • Pimco's parent company is Allianz (AZSEY).
    • Pimco funds: AUD, BABZ, BUND, CAD, CORP, DI, FIVZ, FORX, GOVY
    • Previous
    | 18 Comments
  • Mar. 5, 2014, 2:43 AM
    • Australia's GDP grew 0.8% on quarter in Q4 after expanding 0.6% in Q3 and topped consensus of +0.7%, lifted by increased household spending and lower savings.
    • On year, GDP +2.8% vs +2.3% and +2.5%.
    • The message from the data is that the "rebalancing act" away from mining "is under way," says HSBC economist Paul Bloxham.
    • "The Australian economy hasn't fallen in a heap since mining investment peaked," says Moody's Analytics economist Katrina Ell. "Further gains are likely as the monetary stimulus continues to filter through."
    • The S&P/ASX 200 is +0.85%, while the Australian dollar is +0.2% at $0.8973. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Mar. 4, 2014, 3:25 AM
    • As expected, the Reserve Bank of Australia has held its key cash rate at 2.5% for the seventh month in a row and indicated that it will continue the policy amid high unemployment.
    • "On present indications the most prudent course is likely to be a period of stability in interest rates," Governor Glenn Stevens said in a statement. "The bank expects unemployment to rise further before it peaks," he added.
    • The jobless rate is at a 10-year high of 6%.
    • The S&P/ASX 200 is +0.3%, while the Australian dollar is +0.2% to $0.895. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Jan. 22, 2014, 2:33 AM
    • Australian CPI eased to +0.8% on quarter in Q4 from +1.2% in Q3 but came in above consensus of +0.5%.
    • On year, inflation rose to 2.7% from 2.2% and also topped forecasts of 2.5%. The latest figure compares with the Reserve Bank of Australia's target of 2-3% and so may reduce the scope of the RBA to further cut rates.
    • Core CPI +0.9% vs +0.7% and +0.6%. On year, core inflation +2.6%.
    • Increases in the cost of recreation, alcohol, tobacco and food led the rise in inflation, although the prices of clothing and footwear and health-related items fell.
    • The S&P/ASX 200 is -0.2% and the AUD-USD is +0.8% at $0.8875. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, GDAY, EWAS, FAUS
    | Comment!
  • Jan. 16, 2014, 4:28 AM
    • As expected, Australia's jobless rate was unchanged at 5.8% in December.
    • However, the number of people in employment fell by 22,600 after a rise 15,400 in November and badly missed consensus for an increase of 7,500.
    • The number of full-time jobs plummeted by 31,600 following an increase of 10,500, while that for part-time positions grew 9,500 vs +5,500.
    • The Australian dollar is -1.45% at $0.8786, although mining stocks helped lift the S&P/ASX 200 by 1.2% despite the disappointing figures. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Dec. 17, 2013, 3:02 AM
    • Australia's conservative government has forecast a budget deficit of A$47B (U.S. $42.3B) in the year ending June 30, well above a projection in August by the previous Labor government of A$30.1B.
    • Treasurer Joe Hockey said returning to sustainable surpluses would take at least a decade, and would "require a sustained and fundamental structural overhaul of expenditure."
    • Hockey left a prediction for GDP growth of 2.5% unchanged, but said unemployment would rise to 6% vs a previous forecast of 6.25% and 5.8% in November.
    • The S&P/ASX 200 is +0.3% and the AUD-USD is -1% at $0.8941.
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Dec. 12, 2013, 2:32 AM
    • As expected, Australia's jobless rate edged up to 5.8% in November from 5.7% in October as more people entered the labor force.
    • However, the number of people in work rose by 21,000 - the largest increase in seven months - after a fall of 700 and topped consensus of 10,000.
    • The number of full-time jobs increased by 15,500 following a drop of 31,100, while that for part-time positions grew 5,500 vs +28,900.
    • The S&P/ASX 200 is -0.7%, while the AUD-USD is -0.3%. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Dec. 2, 2013, 11:36 PM
    • Australia stands pat, holding its key interest rate at 2.5%.
    • The aussie is “still uncomfortably high,” the RBA says, adding that "a lower level of the exchange rate is likely to be needed to achieve balanced growth."
    • "The economy has been growing a bit below trend over the past year and the unemployment rate has edged higher," Governor Glenn Stevens notes, before predicting that this dynamic "is likely to persist in the near term, as the economy adjusts to lower levels of mining investment."
    • The aussie weakened on the news, trading down 0.3% against the greenback.
    • RBA press release
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Comment!
  • Nov. 7, 2013, 4:50 AM
    • As expected, Australia's unemployment rate held steady at 5.7% in October.
    • Employment rose by 1,100 workers, down from +3,300 in September and way below expectations of +10,000.
    • Full-time employment slumped by 27,900 vs -1,800 prior, while part-time employment increased by 28,900 vs a rise of 5,200.
    • The jobs report "keeps that easing bias in place," says economist Michael Blythe, who was referring to the Reserve Bank of Australia's monetary policy.
    • The AUD-USD is -0.4% to $0.9486, while the S&P/ASX 200 is -0.2%. (PR)
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | Comment!
  • Nov. 5, 2013, 2:50 AM
    • As expected, the Reserve Bank of Australia has left its key overnight cash-rate target at a record low of 2.5%.
    • RBA Governor Glenn Stevens said the Australian dollar is "uncomfortably high" and needs to fall for the country to achieve balanced growth.
    • "The RBA is certainly using stronger language," says HSBC economist Paul Bloxham. "I think they're really trying to jawbone the Aussie dollar lower if they can.
    • Still, markets don't expect a rate move in the next half year, especially with low borrowing costs boosting house prices.
    • The AUD-USD is -0.3% to $0.9483, while the S&P/ASX 200 is +0.8%. (PR)
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | Comment!
  • Oct. 23, 2013, 2:02 AM
    • Australian CPI +1.2% on quarter in Q3 vs +0.4% previously and consensus of +0.8%.
    • On year, CPI +2.2% vs +2.4% and +1.8%.
    • Transport prices rose 2.4% on quarter as fuel prices increased; housing costs +2%.
    • "It's still a story that inflation is subdued but perhaps it's not so much of a non-issue as markets have thought," says economist Besa Deda. "It makes the hurdle for an RBA cut a little higher and our expectation is that they won't cut any further, but will keep rates on hold for longer."
    • Interest rates are at a record low 2.5%.
    • S&P/ASX 200 -0.3%; AUD-USD -0.6% to $0.9654.
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | 1 Comment
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AUD Description
The Fund seeks to provide total return that closely corresponds, before fees and expenses, to the total return of The BofA Merrill Lynch Diversified Australia Bond Index. The BofA Merrill Lynch Diversified Australia Bond Indexsm tracks the performance of large, Australian dollar (“AUD”)-denominated investment grade debt instruments publicly issued in the Australian domestic market, including sovereign, quasi government, corporate, securitized and collateralized securities. All qualifying securities must have at least one year remaining term to final maturity and a fixed coupon schedule. Qualifying Australian sovereign securities must have a minimum amount outstanding of AUD 1 billion. Qualifying non-sovereign securities must have a minimum amount outstanding of AUD 500 million and must be rated investment grade. Index constituents are capitalization-weighted adjusted, as necessary, to meet issuer concentration limits. The Underlying Index is rebalanced on the last calendar day of the month. It is not possible to invest directly in an unmanaged index.
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Country: Australia
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