EZU: iShares MSCI EMU Index ETF Instablogs

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Tuesday, May 14, 8:59 AM GMO's 7-year asset allocation model for U.S. stocks (VTI) is now predicting negative returns, says James Montier, presenting at the London Value Conference, and telling the audience GMO is now 50% in cash. Liking Europe (VGK, EZU, FEZ) a year ago, the big run has GMO less excited now. The best value could be emerging markets (EEM, DEM, VWO), but China's property bubble has GMO allocating less to EM than its models suggest. 14 Comments [Global & FX]
Thursday, May 2, 1:17 PM Mario Draghi's hint of negative interest rates -which sent the euro tumbling this morning - might perk up investor interest in WisdomTree's (WETF) Europe Hedged Equity ETF (HEDJ +1.3%). WisdomTree has scored big-time this year as its previously little-known Japan Hedged Equity Fund (DXJ) has raked in assets. Unhedged Europe ETFs: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, DFE. Comment! [Global & FX, Quick Ideas, Financials]
Thursday, April 4, 11:41 AM Europe (FEZ, VGK, EZU) gives up a sizable early pop (following the BOJ) to close with solid losses. Leading is the FTSE (EWU) -1.1% as it appears the lame-duck leadership of the BOE is going to pass the baton to Mark Carney in July before further stimulus is forthcoming. The euro (FXE) is on a wild ride - plummeting as Draghi started his press conference only to gain it all back and more as the ECB chief said there are limits to what the central bank can do. Comment! [Global & FX]
Wednesday, March 20, 3:40 PM Enjoying a great run of inflows from its currency-hedged Japan Fund (DXJ), is WisdomTree (WETF) planning something similar for European shares? Director of Research Jeremy Schwartz shows how a hedged strategy lowers the risk of owning stocks across the pond. 1 Comment [Financials]
Tuesday, March 19, 3:18 PM The bailout rejected, what's next for Cyprus? Open Europe suggests the EU will allow a few days for Cypriot MPs to get their minds right before the ECB thinks about cutting off funding for the country's banks (which would lead to their collapse). Or not. Reuters' Anatole Kaletsky notes the ECB needs two-thirds of its board to cut off ELA funding, and the Germans don't have the votes. "Time to get bullish ... German U-turn ahead!" 126 Comments [Global & FX]
Thursday, March 7, 7:52 AM Europe sheds some gains after the ECB keeps policy on hold, even though the decision was expected. The Stoxx 50 (FEZ) +0.2%. The euro (FXE) meanwhile adds to its gains, +0.4% at $1.3018. Comment! [Global & FX]
Saturday, March 2, 8:43 AM Along with the bull market are wealth managers continuing to ratchet up their exposure to equites at the expense of bonds and cash, according to Penta's latest survey which shows recommended stock allocations rising to 48% from 45% a year ago. Also of interest are the swings in foreign stock holdings - in favor in 2011, out in 2012, and popular again this year. Comment!
Friday, March 1, 4:25 AM Eurozone February Manufacturing PMI unchanged from January at 47.9 (flash 47.8) as Germany stabilizes but with all other countries except Ireland contracting. "The combination of a revival in export orders and resilient domestic demand has helped propel Germany’s growth so far this year, while deteriorating domestic demand is holding back the economies of France, Italy and Spain," Markit says. (PR) Comment! [Global & FX, Top Stories]
Monday, February 4, 7:23 AM The euro takes a breather from what has been a huge run higher as Spain and Italy get their names in the paper again. Described as "unstoppable" last week and with speculative longs shooting higher, the euro almost had to turn lower. Currently -0.8% to $1.3563. Stoxx 50 -1%. Comment! [Global & FX]
Tuesday, January 15, 4:36 PM Professional bear Albert Edwards generates headlines calling European stocks "unambiguously cheap." His more subtle message is the idea pension funds and such have swung the needle too far in favor of bonds over stocks, a move not yet fully played out, but that will leave equity fans with an incredible opportunity. 1 Comment [Global & FX]
Wednesday, January 2, 7:13 AM European markets soar as they catch up to Monday afternoon's big rally in the States and react to last night's fiscal cliff deal. Stoxx 50 +3.6%, led by Spain +3.1%. The euro +0.5% to $1.3256. 1 Comment [Global & FX]
Monday, December 31, 2012, 11:56 AM More details on iShares' ETF fee hikes: Going to 0.53% from 0.52% (a 1.9% hike) are its Ireland Capped Investable Market Fund (EIRL), Australia Fund (EWA), Canada Fund (EWC), Hong Kong Fund (EWH), Belgium Capped Fund (EWK), Switzerland Fund (EWL), Malaysia Fund (EWM), Netherlands Investable Market Fund (EWN), Spain Fund (EWP), France Fund (EWQ), Singapore Fund (EWS), United Kingdom Fund (EWU), Mexico Investable Market Fund (EWW) and EMU Fund (EZU). 2 Comments [Global & FX]
Tuesday, December 4, 2012, 8:16 AM Based simply on recent PMI levels, Western stock markets are 15-35% overvalued, says Deutsche Bank, which believes the Fed's QE∞ and the ECB's OMT have allowed equities a 6-month grace period. If early 2013 economic prints don't start to improve, look for stock markets to give up and adjust downward. 6 Comments [Global & FX, U.S. Economy]
Monday, December 3, 2012, 12:47 PM Among JPMorgan's (JPM) 9 market themes for 2013 is its belief European equities will outperform the U.S. as fiscal issues which have dogged the Continent for so long now move across the pond. It's more continuation play than contrarian play as Europe (VGK) has bested the U.S. (SPY) by nearly 300 basis points thus far in 2012. Comment! [Global & FX]
Tuesday, August 28, 2012, 9:47 AM Ahead of the times? WisdomTree is changing the broad international focus of its HEDJ ETF into one offering exposure solely to European exporters (while hedging against euro fluctuations). Comment! [Global & FX, Quick Ideas]
Monday, August 20, 2012, 9:04 PM More on the ECB: Mario Draghi appears to have won over at least one Bundesbank member as Jorg Asmussen tells a German newspaper high peripheral bond yields reflect exchange rate risk, thus "our monetary policy (is) achieved only incompletely." It's crucial wording, suggesting he's okay with ECB bond purchases as long as they're couched in saving EMU, not financing Spanish and Italian governments. "We are working on (a) new program and will deal with it (at the next policy meeting)." 11 Comments [Global & FX]

EZU iShares MSCI EMU Index ETF

EZU

iShares MSCI EMU Index ETF