Good timing often helps some new exchange traded funds. And that was expected to be the case for the 10 recently launched spot bitcoin ETFs, including the Invesco Galaxy Bitcoin ETF (BTCO).
US gross domestic product surprised to the upside in the fourth quarter of 2023, primarily led by US consumers and the government. Franklin Fixed Income Economist Nikhil Mohan sees the growth mix remaining largely the same in 2024.
The “Magnificent Seven” were at the forefront of 2023’s market rally, but the same leader board has done some shifting to start 2024. After an earnings miss, the stock of Tesla faltered, while peers like Microsoft and Apple continue to see higher heights, reaching the $3 trillion club.
For many investors, fixed income investments have a primary objective of preserving wealth. The known characteristics of owning individual bonds are a major reason for this: known income, known cash flow, known redemption date, known redemption value.
A renewed sense of optimism emerged during the fourth quarter, sparking an increase in U.S. equity trading volumes and a rally in risk-on fixed income assets.
As the calendar closed on 2023, investors were once again treated to magnificent returns in their stock and bond portfolio.
Income investors have an overwhelming number of investment options today. The menu ranges from traditional fixed income to equity investments like REITs to innovative covered call ETFs to more exotic vehicles.
As money market account balances soar, the mainstream media again proclaims, “There is $6 trillion of cash on the sidelines just waiting to come into the market.”
History shows that monetary policy drives investment performance. When the Federal Reserve (Fed) hikes or cuts the fed funds target rate in response to economic conditions—or stays on hold while it assesses the data—performance will differ by sector.
The first round of the ETF Playoffs has concluded! Exchange, a conference for financial services professionals, is happening in Miami, February 11-14. Since Exchange is hosting a party for the big game at Miami’s hottest club, LIV, we’re hosting an ETF championship bracket.
Market expectations have established a high bar for central banks' rate cuts. Any disappointment like stronger inflation or economic growth could spark market volatility.
The economy is still growing. Real GDP rose at a solid 3.3% annual rate in the fourth quarter, and consumer spending was strong in December meaning the first quarter is off to a good start.
Prior to 2022, many retail investors likely eschewed buying individual Treasury bonds from the U.S. government. That’s because they didn’t offer much in the way of income.
Andy Rothman reviews data points that offer insights into the coming quarters.
To celebrate the pending Exchange conference, VettaFi and some key industry partners were at the Nasdaq MarketSite to help ring the opening bell last week. Exchange will be the industry’s largest ETF-, and most valuable advisor-focused, conference.
C.S. Lewis coined the term ‘chronological snobbery’. According to Lewis, the definition of chronological snobbery is “the uncritical acceptance of the intellectual climate of our own age and the assumption that whatever has gone out of date is on that count discredited.”
This week, follow Exchange on LinkedIn and vote for your favorite ETF trends of 2024.
Conventional thinking holds that higher interest rates mean lower home prices – or the corollary, lower rates mean higher prices. This naïve formulation, DoubleLine Portfolio Manager Ken Shinoda argues, overlooks the interplay of home prices and mortgage costs with housing supply and demand dynamics.
Can inflation continue to decline, and what will drive it down?
Emerging markets debt proved sturdy in 2023. And more of the same could be on the way this year. That’s because fixed income investors are looking outside of the U.S. for elevated levels of income.
More institutional investors are exploring infrastructure for diversification, income and stable return potential as well as inflation protection. Investors are looking at both the traditional segments and newer digital sectors along with renewables.
In the middle of 2023 we argued that, according to our forecast for GDP at the time for the whole of 2023, employment was growing too fast and that it would have to slow considerably during the second half of the year.
A traditional 60/40 stock/bond portfolio has been a tried and tested strategy among financial planners. But income seekers can specifically reap the benefits of both assets with exposure to one active exchange-traded fund: the NEOS Enhanced Income Aggregate Bond ETF (BNDI).
Falling inflation hasn’t yet translated into good feelings among US consumers. Based on the latest data, that might be changing.
The European Central Bank left interest rates unchanged, without conveying any urgency to start cutting rates in the next few months. David Zahn, Franklin Templeton Fixed Income’s Head of European Fixed Income, weighs in on the implications for investors—and why lengthening duration may make sense.
Jeff and Ron Muhlenkamp provide a recap of 2023 and look at the state of the economy at the start of 2024. They also explain their reason behind why they have significant portfolio holdings in certain industries.
As the stock market hit all-time highs this past week, there remains an interesting disconnect from the more dour economic concerns of the average American. A recent survey by Axios, a left-leaning website that supports the current Administration, addressed this issue.
During the macroeconomic segment of its 2024 edition, participants in DoubleLine Round Table Prime among other issues debate the seeming failure of the most telegraphed recession in history to materialize in 2023, the intersection of Federal Reserve policy with a presidential election year and deep changes in the economy post-2020.
A recent report from the International Monetary Fund (IMF) has projected that AI will affect almost two out of every five jobs done by humans around the world. AI of course will impact work that is already somewhat or totally automated.
The fourth quarter of 2023 was a more favorable environment for active managers in the UK, Europe, Emerging Markets, U.S. Small Cap and Listed Infrastructure, while being more challenging for U.S. Large Cap, Global, Global ex-U.S., Japan, Australia, Canada, Long/Short and Global Real Estate managers.
Interest rates in most parts of the world appear to be stabilizing, as inflation trends continue to decline from the high levels seen in the summer of 2022. Learn more about the implications for hedge fund strategies from K2 Advisors.
While interest rates have presumably peaked, we remain skeptical that rate cuts will be delivered as forcefully as the market expects.
This dividend aristocrat has increased their dividend for 67 consecutive years. How’s that for reliability? But the best part is it’s finally in the cheap buy range for value investors.
Mega-cap tech-related names (MAGMAN) drove equity returns in 2023. However, heading into 2024 market consensus expected returns to broaden to other equity sectors and market cap sizes.
Despite several physical gold ETFs on the market seeing strong outflows and spot Bitcoin ETFs stealing market share, gold miner ETFs haven’t necessarily faced the same problem of outflows.
In thinking about the 2020s, I often find myself looking back to the 1920s. That decade began with a deep recession/depression and ended with a stock market crash. While we now see the 1920s as a kind of “in between” period, people at the time didn’t know another depression and war were coming.
A new report by BMO Capital Markets suggests that the price of gold is no longer being driven by real interest rates. What replaced them? I unveil the answer below.
Many investors buy individual bonds as a means to preserve their wealth. They can serve as a method to balance growth assets (such as stocks).
While 2023 was the year of Fed rate hikes, the fixed income market is expecting 2024 to be the year of rate cuts. At the December 2023 meeting, the Federal Reserve’s own guidance was for three 25 basis point reductions in 2024.
Investors who wait too long to get off the sidelines may find they’ve missed out.
Bitcoin has fallen below $40,000 after rising to just under $50,000 before the spot bitcoin ETF launch. Many investors expected this to be the beginning of a price rally that would be extended later this year through the halving event and take us to prices seen in 2021.
Credit quality in the muni market likely has peaked, but we believe states' strong rainy-day funds and other attributes will lend stability in the near term.
The expectation of higher corporate earnings in 2024 could help prop up the actively managed NEOS S&P 500 High Income ETF (SPYI). Of course, capital markets are brimming with optimism, with the expectation of rate cuts to come.
Registered investment advisors have long leaned on the 60% equities/40% fixed income portfolio structure. While it’s not perfect, it has served clients well, broadly speaking.
The BlackRock U.S. Equity Factor Rotation ETF (DYNF) is approaching its fourth birthday. The active ETF outperformed the S&P 500 over the past one- and three-year periods.
Defensive equity strategies that limit downside losses but lag too much in up-markets may be missing the mark. Is there another way to reduce volatility?
Amid expectations that the worst case scenario for interest rates this year is that the Federal Reserve will halt its tightening cycle, some fixed income investors may be inclined to take their eyes of floating rate notes (FRNs).
After 2023's price cuts and tougher competition, Tesla is set to report late Wednesday. Lower demand and a big, one-time jump in used EVs could drive a very different 2024.
The economy slowed substantially in the last quarter of 2023 from the rapid pace of the third quarter, but, as we explain below, still expanded at a moderate rate.
Following a period of relatively calm asset markets from 2013-2019, in which the CBOE Volatility Index (VIX) averaged just below 15, volatility in asset markets has returned1 and investors have been looking for ways to protect themselves.
