Trump this, Trump that … (TWTW – January 2-6, 2017)

Trump this, Trump that … – and Trump the other thing! From Carrier, to Ford, to Toyota, to Boeing, to China, to security briefings, Russia, etc => TRUMP the President-Elect, soon to be the President inaugurated (Jan 20th) is EVERYWHERE…

Boy – if you find that annoying, it will be a (very) long 4 years on Twitter, and everywhere else …

Recent Developments:

  • President Elect Donald J Trump – Was briefed by security officials regarding the DNC hack, the latest news on that front being that the trail leads all the way right up the chain to one … Vladimir Putin
  • US Payrolls – Came in a notch below consensus, and with greater labor participation, also feature an uptick in unemployment. Wages picked up.
  • The US Dollar – Encountered some headwinds this week, in the aftermath of the release of the FED’s Dec 13-14 FOMC Minutes, which caused some to rethink the speed and magnitude of hikes in 2017
  • China – Is apparently bracing itself for Trump the Protectionist, and won’t sit idle, having identified how it will retaliate, if said President materializes, come his January 20th, 2017 inauguration
  • Several Nobel-Winning Economists – gave Trumponomics the thumbs down, summing their views thus: “There is a broad consensus that the kind of policies that our president-elect has proposed are among the policies that will not work”.
  • Bill Gross – For his part, likened Trump’s arm wrestling of companies to what happened in Italy under … Mussolini
  • And going further, Billionaire George Soros – Didn’t mince his words, suggesting: “Democracy is now in crisis … Even the U.S., the world’s leading democracy, elected a con artist and would-be dictator as its president.” (If George wasn’t already on Trump’s blacklist … this probably gets him top billings there …)

Latest market numbers as seen through the ETFs providing exposure to the most commonly referred to benchmarks:

ticker name change ticker name change ticker name change
XIU S&P/TSX 60 1.50% PXG RAFI Global Fundamental 0.09% VCN FTSE Canada All Cap Index ETF 1.42%
XIC S&P/TSX Capped Composite 1.36% PXS RAFI US Fundamental Index 0.21% VCE FTSE Canada Index ETF 1.30%
CRQ RAFI CDN Fundamental 1.76% QQC NASDAQ 100 CAD Hedged 3.00% VUN CRSP US Total Market Index Unhedged 0.24%
XSP S&P 500 CAD Hedged 1.60% PZC RAFI CDN Small-Mid Fundam VSP S&P 500 CAD Hedged 1.69%
XUS S&P500 0.21% VXC FTSE All-World Ex Canada Index ETF 0.45%
XMU MSCI Min Vol US -0.31% XXM/b Morningstar US Value (Unh) 0.34% VEF FTSE Developed ex North-Am CAD H 2.09%
CLU RAFI US Fund 1000 CAD H 1.37% YXM/b Morningstar US Momentum (Unh) -0.06% VDU FTSE Developed ex North-America 0.97%
XSU Russell 2000 CAD Hedged 0.76% FXM Morningstar CDN Value 1.76% VE FTSE Developed Europe -0.16%
XIN MSCI EAFE CAD Hedged 2.24% WXM Morningstar CDN Momentum 0.07% VA FTSE Developed Asia Pacific 2.11%
XEH MSCI Europe IMI CAD H 1.41% VXM/b Morningstar Intl Value (Unh) 0.98% VEE FTSE Emerging Mkts 1.21%
XEC MSCI EM IMI 1.17% ZXM/b Morningstar Intl Momentum (Unh) 0.95% HAZ Active Global Dividends -0.26%
XMM MSCI Min Vol Emerging 0.75% RWE MSCI Europe Low Risk Weighted (H) 0.55% HHF Morningstar Hedge Fund Index -0.51%
CWO RAFI Broad Emerging 1.71% HMF Auspice Managed Futures -2.40%
CJP RAFI Fundam Japan CAD H 4.04% ZDJ Dow Jones CAD Hedged 1.27% HAC Seasonal Rotation 1.65%
CDZ CDN Div Aristocrats 1.09% ZEQ MSCI Europe High Quality CAD H 1.57% HPR Active Preferred Shares 1.95%
week of: Jan 2-6, 2017 Source: ETFinsight/Bloomberg

Weekly Volumes for the week of January 2-6, 2017:

weekly volume data:
Total Volume non-leveraged $3,911,384,798
top 10 Volume non leveraged $1,732,477,805
Total Volume leveraged $1,751,505,577
top 5 Volume leveraged $1,313,415,896
Total Volumes overall: $5,662,890,375
Top 10 + Top 5: $3,045,893,701
top 10 non leveraged % of total nl: 44.3%
top 5 leveraged % of total leveraged 75.0%
Top 10 + Top 5 as % of total traded: 53.8%

etfinsight-weekly-volumes-jan-6-2017

iShares – Matteos y Lago: “What’s behind China’s stabilizing growth?” ;

Koesterich: “Why Stock market tranquility is unlikely to last”

Turnill: “The themes (and risks) that will shape 2017”

Vanguard – Davis: “Are negative interest rates a negative for bond investors?”

Horizons ETFs – ICYMI: Horizons announced the Advisors’ class elimination, come the end of April 2017, with no more subscriptions taken by the end of this month => Click HERE to read!

IFIC … meanwhile, is apparently asking the CSA to reconsider as far as announcing an elimination / ban on trailer fees that could be announced as soon as Tuesday. (Turns out … if you ask me: it is so comfortable to just take the money without having to ask, and have the whole process automated and well oiled – why would one ever want to give that up? I too, would of course beg, plead, etc for endless extensions. Best interest? Why the clients’? must be the thinking – what about the industry’s best interest – which no doubt lies in the status quo…

First Asset – Value trounced Momentum in 2016 – will 2017 see a relative rebound on the part of Momentum? Last week? Didn’t happen. Value was marginally ahead across the board, the more so in Canada.

Other – Forstrong Global Thinking, Q1, 2017 => Click HERE to read!

Coming up: Jan 22-25 Inside ETFs => Click HERE for details!

ETFinsight – Defining 2017 … (Perspectives – Janary 2017) => Click HERE!

Performance – 2016 and Dec 2016 => Click HERE! (Tier 1) or HERE (Tier 2)

Top and Bottom performing ETFs for the week of January 2-6, 2017:

Ticker Name % Change Avg Price Weekly Volume $ Volume traded
Top Performers week of (Jan 2-6, 2017)
ZJG CN Equity BMO Junior Gold Index ETF 8.64% $8.62 2,238,307 $19,335,951
ZGD CN Equity BMO S&P/TSX Equal Weight Global Gold Index ETF 7.29% $10.16 332,867 $3,465,226
XGD CN Equity iShares S&P/TSX Global Gold Index ETF 5.61% $12.67 21,129,142 $266,242,420
HEP CN Equity Horizons Enhanced Income Gold Producers ETF 5.19% $25.41 82,709 $2,116,559
ZMT CN Equity BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF 5.16% $9.45 328,684 $3,129,176
CBQ CN Equity iShares BRIC Index ETF 4.86% $19.51 49,134 $968,897
XBM CN Equity iShares S&P/TSX Global Base Metals Index ETF 4.38% $11.57 476,259 $5,493,574
XMA CN Equity iShares S&P/TSX Capped Materials Index ETF 4.33% $13.16 810,375 $10,745,519
SVR CN Equity iShares Silver Bullion ETF 4.18% $9.12 93,726 $848,293
CJP CN Equity iShares Japan Fundamental Index ETF CAD-Hedged 4.04% $14.18 220,840 $3,141,686
Bottom Performers
XHU CN Equity iShares US High Dividend Equity Index ETF -0.97% $22.72 24,221 $548,923
ZWH CN Equity BMO US High Dividend Covered Call ETF -1.07% $20.43 675,857 $13,792,784
XST CN Equity iShares S&P/TSX Capped Consumer Staples Index ETF -1.14% $52.41 297,363 $15,550,584
ZIC CN Equity BMO Mid-Term US IG Corporate Bond Index ETF -1.16% $18.85 343,101 $6,469,035
DLR CN Equity Horizons US Dollar Currency ETF -1.46% $13.26 1,475,169 $19,531,858
USB CN Equity PowerShares LadderRite US 0-5 Year Corporate Bond Index ETF -1.72% $23.63 105,114 $2,469,097
HUN CN Equity Horizons Natural Gas ETF -5.03% $7.02 45,613 $315,957
HNY CN Equity Horizons Natural Gas Yield ETF -7.76% $15.52 78,517 $1,204,788
HUV CN Equity BetaPro S&P 500 VIX Short-Term Futures ETF -13.22% $8.20 195,575 $1,598,581
GAS CN Equity Canadian Natural Gas Index Etf -15.58% $10.57 5,012 $52,344

Top Performing ETFs – The + side saw Goldcos rebound as the USD lost some of its recent buoyancy. Japan (CAD -Hedged) was also notably strong, adding to its December gains – and perhaps establishing a favorable trend, after disappointing overall in 2016.

Bottom Performing ETFs – USD exposure figured amongst bottom performers for the week, given the Greensback pullback. Nat Gas also gave back some ground after its recent strength. With Volatility for the moment remaining very subdued, Long Vol kicked off 2017 in usual fashion … by producing losses for those going Long! As January goes … so the year? for the moment: ok. Within the next few weeks? A lot can change…

Sectors breakdown for the week:

etfinsight-weekly-sector-performance-jan-6-2017

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