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Emerging-Markets Bond ETF BreakdownMorningstar • Fri, Jul 13, 2012
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It May Take A Dragon To Breathe Fire Into MarketsFrank Holmes • Tue, Jan 24, 2012
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Emerging Markets: What To Expect In The Year Of The DragonYiannis Mostrous • Wed, Jan 4, 2012
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Top 10 Noteworthy ETF Trends Of 2011Michael Johnston • Tue, Dec 27, 2011
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First China Bond ETF Debuts: RMB Taps 'Dim Sum' MarketEric Dutram • Thu, Sep 22, 2011
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Emerging-Markets Bond ETF BreakdownMorningstar • Fri, Jul 13, 2012
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It May Take A Dragon To Breathe Fire Into MarketsFrank Holmes • Tue, Jan 24, 2012
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Emerging Markets: What To Expect In The Year Of The DragonYiannis Mostrous • Wed, Jan 4, 2012
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Top 10 Noteworthy ETF Trends Of 2011Michael Johnston • Tue, Dec 27, 2011
There are no Transcripts on RMB.
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at CNBC.com (Oct 27, 2011)
RMB vs. ETF Alternatives
RMB Description
The Guggenheim Yuan Bond ETF (NYSE:RMB) seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of a Yuan bond index called the AlphaShares China Yuan Bond Index. The Index is a rules-based index comprised of, as of August 31, 2011, approximately 37 securities. The securities in the Index are bonds that are eligible for investment by U.S. and other foreign investors and denominated in Chinese Yuan, whether issued by Chinese or non-Chinese issuers and traded in the secondary market, a market commonly referred to as the “Dim Sum” bond market. The Index was created by AlphaShares, LLC, the index provider. The Fund will not invest in securities traded in mainland China. The Fund will invest at least 80% of its total assets in fixed income securities that comprise the Index.
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Country: China
Key Info
- In Your Portfolio: A Guide to International and Emerging Market Government Bond ETFs
- Asset Class Performance: Bonds, Countries
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- | Earnings
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- | M&A
- | On the move
- Thursday, May 23, 3:17 AM China PMI shrinks for the first time in seven months, dropping to 49.6 from 50.4 in April, missing expectations. HSBC, who collect the data, didn't mince words in an appeal to Beijing: "The cooling manufacturing activities in May reflected slower domestic demand and ongoing external headwinds. A sequential slowdown is likely in the middle of Q2, casting downside risk to China's fragile growth recovery. Moreover, the further signs of labor market slackness call for more policy support. Beijing still has fiscal ammunition to do so." ETFs: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF; BONDS: RMB, DSUM, CHLC, CNY, CYB, FXCH 1 Comment [Global & FX]
- Monday, May 20, 8:22 AM Guggenheim announces the closing of its Chinese Yuan bond ETF (RMB), effective June 14 as the fund failed to generate significant investor interest since its 2011 launch. The fund’s May dividend distribution will be suspended which should maximize the amount shareholders will receive at liquidation on or about June 21st. Comment!
- Tuesday, April 16, 1:05 PM China's local government debt is "out of control," says Zhang Ke, head of a top Chinese accounting firm, and it could spark a bigger crisis than the U.S. property crash. He says his firm has mostly exited from the business of underwriting local government bond issues as the municipalities cannot service the debt they are taking on. "Things could become very serious." 8 Comments [Global & FX]
- Thursday, November 29, 2012, 5:58 AM S&P affirms China's sovereign long-term rating at "AA-" and its outlook at stable, citing "strong economic growth potential, (a) robust external position, and the government's relatively healthy fiscal position." Despite the conservative nature of China's new Politburo Standing Committee, S&P reckons that "efforts toward deepening structural and fiscal reforms are likely to continue." Comment! [Global & FX]
- Thursday, November 1, 2012, 3:34 PM Yield-starved investors are moving assets into emerging-market corporate debt ETFs, and the industry responds by upping the number of products offered to 10 from just 3 at the end of 2011. There's still plenty of room for growth - in total, such ETFs (a selection here) have about $1B AUM with the size of the EM corporate debt market at $776B. The largest U.S. corporate debt ETF, LQD alone has about $25B AUM. Comment! [Global & FX]
- Friday, August 17, 2012, 8:01 AM Fascinating research from BCA shows the divergence of late between Chinese stocks (down) and corporate bond spreads (getting tighter). Such is not the case in America or in Europe where equity prices and bond spreads move in lockstep. Has an opportunity arisen in beaten-down Chinese shares? 2 Comments [Global & FX, Quick Ideas]
- Wednesday, June 27, 2012, 4:54 PM The collapse of a property developer in Hangzhou causes a mini-financial meltdown in the city and shines more light on so-called "credit guarantees," reminiscent, says Patrick Chovanec, of the circular arrangements common on Wall Street prior to 2007. Chovanec may be doing disservice to China, which appears to have outdone anything concocted in the U.S. during its credit bubble. Comment! [Global & FX]
- Tuesday, May 1, 2012, 10:10 PM "Why did 10-year Treasurys yield 14% under the vice-like grip of iron-man Volcker, but yield just 1.8% under ... Weimar-like Bernanke," asks Hugh Hendry, defining his weapons in the global macro business as irony and paradox. Hendry's latest investor letter describes China's epic, credit-fueled binge, and why the crisis that started in the U.S. and moved to Europe, is about to end in Asia - and how he's playing it by buying CDS on Japanese corporations. 6 Comments [Global & FX]
- Monday, April 30, 2012, 11:19 PM China's official April PMI rises to 53.3 vs. expectations of 53.5 and 53.1 previously. The print is well above last week's HSBC "flash" PMI of 49.1 (HSBC's final April read will be released tomorrow). 2 Comments [Global & FX]
- Friday, April 27, 2012, 5:03 AM China's industrial profits rose 4.5% in March, recovering from a January-February decline, and were down 1.3% Y/Y for the quarter. Comment! [Global & FX]
- Thursday, April 26, 2012, 7:35 AM Included in Volvo's (VOLVY.PK) mostly upbeat earnings report, is an expected 15-25% drop in the market for construction equipment in China. The company had previously guided for a flat 2012 in China. Volvo becomes the 3rd heavy equipment maker in 2 days to warn on slowing in China. Comment! [Global & FX]
- Thursday, April 19, 2012, 11:36 AM China moves to allow domestic funds to introduce yuan-denominated equity ETFs in Hong Kong, affording offshore investors the opportunity to use yuan to invest in mainland markets. It's not the first move this year suggesting Beijing's interest in funneling investor dollars towards the country's stock markets. 3 Comments [Global & FX]
- Tuesday, April 17, 2012, 4:49 PM HSBC is marketing a yuan-denominated bond to be listed in London, part of a move to expand "dim sum" bonds beyond Hong Kong, where the vast majority of them are traded. Earlier, the LME said it may allow its members to clear contracts in yuan. Comment! [Global & FX, Financials]
- Friday, April 13, 2012, 3:15 PM Slowing GDP growth doesn't make the top of the list of China's worries, writes John Foley. At the head of the pack is political shenanigans - as exemplified by the Bo Xilai saga - surrounding next year's leadership change. Next is the banking system - "built on distortions that promote misallocation of capital" - reporting a spurious 1% of loans as non-performing. 6 Comments [Global & FX]
- Friday, April 13, 2012, 9:13 AM More on China's GDP: Q1 annualized growth dips to 7.4% from 7.8% in Q4 and below the government target of 7.5%. Consumption spending contributed 76% of the growth vs. a 10-year average of 42%. Real estate was the main drag with prices, floor space started, and floor space sold all in negative territory. 7 Comments [Global & FX]
- Friday, April 13, 2012, 7:45 AM More on supposed China RRR cut: The still-unconfirmed report was lifted off of Sina and says China has cut the reserve rate requirement for some rural banks by 1%. Beijing cut the rate for its ag banks ahead of a national reduction the last time around. 1 Comment [Global & FX, Financials]
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Jason Tillberg
US$ slammed against RMB last night.. now 6.2944. Lets see if mainland stocks in US catch any kind of bid today. - View all 0 replies
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Canary Cash
To keep the RMB down China prints and hands out easy money - bubbalicious loads of that debt is going bad now - Hard landing & RMB soars? - View all 0 replies
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