Seeking Alpha
 

iPath GEMS Asia-8 ETN (AYT)

- NYSEARCA
  • Apr. 8, 2014, 7:57 AM
    • Alongside rallying emerging market equities is a comeback for their currencies as investors grow comfortable with the taper. Also at work is tighter monetary policy in the emerging markets - Turkey, South Africa, and Russia have all boosted rates this year, and Brazil is nearing the end of a year-long rate hike cycle.
    • "The appeal of the carry trade has returned. Emergency measures by emerging market central banks have rendered yields much higher, and hence emerging market currencies are much more attractive to hold," says SocGen's Phoenix Kalen.
    • ETFs: CYB, CNY, BZF, CEW, ICN, INR, FXCH, INCO, AYT, PGD, JEM
    | Comment!
  • Mar. 21, 2014, 2:42 AM
    • Thailand's Constitutional Court has ruled that a snap general election in February was invalid, as protests in several parts of the country prevented voting from being completed on the same day.
    • Prime Minister Yingluck Shinawatra had called the ballot in an attempt to quell often violent protests that were aimed at forcing her to resign.
    • The court's decision comes two days after the government lifted a state of emergency that had been in place since January as a response to the demonstrations, which were scaled back a couple of weeks ago.
    • The turmoil in Thailand has hit the baht and shares, and has threatened the tourism industry.
    • Thailand's SET stock index is -0.1%, while the USD-THB is +0.1% at 32.418 baht.
    • ETFs: THD, AYT, PGD
    | Comment!
  • Feb. 3, 2014, 8:43 AM
    | Comment!
  • Feb. 2, 2014, 2:45 AM
    • Thailand is going to the polls today in an election that the main opposition Democrat Party is boycotting and which comes after weeks of mass protests that were aimed at forcing Prime Minister Yingluck Shinawatra to resign.
    • Shinawatra's party is projected to win, although the country may be left in limbo due to possible legal challenges and a lack of a quorum of MPs.
    • Anti-government protestors have forced the closure of some polling stations in Bangkok and the south, while gun battles took place in the capital yesterday.
    • The turmoil in Thailand has hit the baht and shares, and threatens the tourism industry.
    • ETFs: THD, AYT, PGD
    | Comment!
  • Oct. 25, 2013, 4:24 AM
    | Comment!
  • Aug. 30, 2013, 10:52 AM
    | Comment!
  • Aug. 27, 2013, 3:14 PM
    | 3 Comments
  • Aug. 26, 2013, 4:21 AM
    • Forex reserves have been falling at Asian banks as they have attempted - not so successfully - to bolster their weakening currencies, which have been suffering partly from the Fed's talk of tapering. Six out of the 10 banks with the largest holdings have cut their reserves this year.
    • The Bank of Indonesia's holdings have plunged a record 18% in 2013, while the rupiah has dropped 12%. The Reserve Bank of India's holdings have fallen 4% as the rupee has dropped 12%.
    • The trends threaten currencies that central banks bought as they looked to diversify their reserves beyond the U.S. dollar in past years, including the euro, the Swedish krona, the Norwegian krone, the South Korean won, and the Australian and Canadian dollars.
    • ETFs: CEW, AYT, JEM, PGD, FXE, ERO, ULE, URR, EUO, DRR, EUFX, ICN, INR, FXA, GDAY, CROC, FXC, FXS,
    | Comment!
  • Aug. 26, 2013, 3:58 AM
    • Fed policy makers have rejected calls to take the recent turmoil in emerging markets into account when deciding on when and how reduce the bank's QE program. The fallout from the prospective tapering was a hot topic of discussion at the Fed's Jackson Hole annual get together over the weekend.
    • "We only have a mandate to concern ourselves with the interest of the United States," Dennis Lockhart said.
    • "They were complaining about us easing too much," James Bullard said. "Now when we start to talk about taper they're complaining about too tight of a policy. They have an independent monetary policy and they have to use that to manage" their own economies.
    • ETFs: CEW, AYT, JEM, PGD, AGEM, EEM, ADRE, SCHE, GMM, VWO, DEM, EWEM, PXH, PIE, EWX, DGS, EMLB, EDC, EET, EMSA, EDZ, EEV, EUM, TLTE, HILO, EELV, EEMA, EMFT, DVYE, FEMS, EVAL, EGRW, EMCR, IEMG, EMDR, EEME, FNI, EEB, BKF, BIK, BBRC, EMDD, BICK
    | 2 Comments
  • Aug. 22, 2013, 5:22 AM
    • Emerging-market currencies have continued to suffer losses following the release of the latest FOMC minutes yesterday, which provided little clarity about when the Fed might start tapering its QE program but left the market expecting that it will be next month.
    • Ten-year Treasury yields are +2 bps at 2.916%. The recent spike in U.S. debt yields has caused borrowing costs to rise globally, which, along with the rising dollar, has not been healthy for emerging markets with large current account deficits, such as India.
    • USD-INR is +0.5% at 65.045 Indian rupees, with the currency hitting a new low of 65.55 earlier.
    • USD-TRY +0.4% at 1.9861 Turkish lira, with the currency hitting a new low of 1.9886 earlier.
    • USD-IPR +2.1% at 11,050 Indonesian rupiah.
    • USD-MYR +0.6% at 3.3102 Malaysian ringgit.
    • USD-THB +0.4% at $32.036 Thai Baht.
    • ETFs: CEW, AYT, JEM, PGD, ICN, INR
    | Comment!
  • Aug. 19, 2013, 9:28 AM
    | 3 Comments
  • Jun. 4, 2012, 11:53 AM
    CitiFX reports a new low in its Emerging Market Currency Positioning Indicator, not significant for its size, but because managers are typically net long EM. Among the largest short positions is in the real (BRL).
    | Comment!
  • May. 30, 2012, 3:39 PM
    Only 90 days ago warning of "currency wars" and intervening to weaken their currencies, emerging nations are now moving to prop them up even as growth concerns begin to overtake inflation worries. "Policymakers have to try and strike a very careful balance," says Standard Chartered's Callum Henderson.
    | 1 Comment
  • Mar. 29, 2012, 12:05 PM
    With risk poking its head out again, emerging market currencies slide, led today by South Africa's rand (SZR) and the Hungarian forint. Both country's kept interest rates on hold last night, with South Africa's central bank sounding a bit dovish. Also hit are the Mexican peso (FXM) and India's rupee (ICN)
    | 1 Comment
  • Mar. 26, 2012, 10:39 AM
    Capital in search of returns is pouring into frontier market currencies, sending a host of them up more than double digits against the greenback this year. Many of these countries have not just high interest rates, but also hard commodities which get more dear as the balance sheets of Western central banks power upward.
    | Comment!
  • Dec. 13, 2011, 11:04 AM
    Mike Riddell returns from a trip to Asia with video diary actually feeling a bit better about Chinese property where he says there is no evidence of a bubble in the tier 2 and tier 3 cities. One story we may start hearing more about is Asian reliance on trade finance provided by European banks who are certain to be pulling back from the business as they deleverage.
    | Comment!
AYT vs. ETF Alternatives
AYT Description
The investment seeks to replicate, net of expenses, the Barclays Global Emerging Markets Strategy Asia 8 index. The index provides exposure to local currencies in specified Asian markets through short-term, liquid and diversified instruments. It is intended to replicate a diversified, multi-national money markets strategy in the eight Asian market currencies, the Indonesian rupiah, the Indian rupee, the Philippine peso, the South Korean won, the Thai baht, the Malaysian ringgit, the Taiwanese dollar and the Chinese yuan, that the index comprises, by reflecting the total return of U.S. dollar investments in the index constituent currencies.
See more details on sponsor's website
ETF Hub
Find the right ETFs for your portfolio: Seeking Alpha's new ETF Hub