Trump Boost – Rethink? (TWTW – Jan 9-13, 2017)

Trump Boost – Rethink? With the Inauguration of President Elect Donald J Trump on the immediate horizon (Jan 20th), market participants have – prompted in part by the Donald’s continued tweeting – begun reappraising the gains scored since his early November election as 45th President of the United States.

World of Post Truth Truth … Here we come!

Recent Developments:

  • Euro Area Unemployment – holds at 7 Year low as growth strenghtens (Bloomberg)
  • UK pound –  at 10 weeks lows …
  • China – factory prices rise at fastest in 5 years (Reflation?)
  • JPY – seen weakening in 2017, heading to 125 against the USD (analyst who foresaw how it would fare in 2016)
  • Gold – Keeps regaining ground, as Trump trade unwinds, with bonds gaining ground as well
  • Donald’s latest target – Pharma, whom he paints as “getting away with murder”…

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 0.32% PXG RAFI Global Fundamental -0.24% VCN FTSE Canada All Cap Index ETF -0.06%
XIC S&P/TSX Capped Composite -0.01% PXS RAFI US Fundamental Index -1.20% VCE FTSE Canada Index ETF -0.09%
CRQ RAFI CDN Fundamental 0.71% QQC NASDAQ 100 CAD Hedged 0.80% VUN CRSP US Total Market Index Unhedged -0.83%
XSP S&P 500 CAD Hedged -0.15% PZC RAFI CDN Small-Mid Fundam 1.09% VSP S&P 500 CAD Hedged -0.20%
XUS S&P500 -0.91% VXC FTSE All-World Ex Canada Index ETF -0.29%
XMU MSCI Min Vol US -1.24% XXM/b Morningstar US Value (Unh) -0.39% VEF FTSE Developed ex North-Am CAD H 0.05%
CLU RAFI US Fund 1000 CAD H -0.33% YXM/b Morningstar US Momentum (Unh) -0.83% VDU FTSE Developed ex North-America 0.13%
XSU Russell 2000 CAD Hedged 0.31% FXM Morningstar CDN Value 1.11% VE FTSE Developed Europe -0.28%
XIN MSCI EAFE CAD Hedged -0.15% WXM Morningstar CDN Momentum 0.33% VA FTSE Developed Asia Pacific 0.50%
XEH MSCI Europe IMI CAD H 0.13% VXM/b Morningstar Intl Value (Unh) 0.51% VEE FTSE Emerging Mkts 0.58%
XEC MSCI EM IMI 1.11% ZXM/b Morningstar Intl Momentum (Unh) -0.04% HAZ Active Global Dividends -0.83%
XMM MSCI Min Vol Emerging 0.08% RWE MSCI Europe Low Risk Weighted (H) -0.17% HHF Morningstar Hedge Fund Index 0.51%
CWO RAFI Broad Emerging 1.10% HMF Auspice Managed Futures -1.38%
CJP RAFI Fundam Japan CAD H -0.97% ZDJ Dow Jones CAD Hedged -0.56% HAC Seasonal Rotation 0.32%
CDZ CDN Div Aristocrats -0.41% ZEQ MSCI Europe High Quality CAD H 0.22% HPR Active Preferred Shares 0.23%
week of: Jan 9-13, 2017 Source: ETFinsight/Bloomberg

Weekly Volumes for the week of January 9-13, 2017:

weekly volume data:
Total Volume non-leveraged $5,360,853,781
top 10 Volume non leveraged $2,550,870,967
Total Volume leveraged $2,119,505,649
top 5 Volume leveraged $1,517,639,260
Total Volumes overall: $7,480,359,430
Top 10 + Top 5: $4,068,510,227
top 10 non leveraged % of total nl: 47.6%
top 5 leveraged % of total leveraged 71.6%
Top 10 + Top 5 as % of total traded: 54.4%

volumes week ending Jan 13, 2017

iShares – Tucker: “5 big things to know about the bond market in 2017”

Koesterich: “If you could ask the new administration for one thing”

Vanguard – “Retirement transitions in four countries”

Horizons ETFs – Brooke Thackray’s January 2017 Newsletter => “Trump Policies are a huge gamble”

First Asset – Value versus Momentum on the week: ahead across Canada; US; and International ETFs.

Others:

Sphere Investments “Opportunities in EM”

Forstrong Global – Ask Tyler: “The View from bond Land”

Redwood Asset Management (“Redwood”), a wholly owned subsidiary of Purpose Investments Inc. (“Purpose”), and Aequitas NEO Exchange Inc. (“NEO Exchange” or “NEO”) are pleased to announce that Redwood plans to launch four exchange traded funds, consisting of six ETF listings, on NEO.  This is the first series of Redwood ETFs to be launched on the public markets, and will provide investors with a suite of ETF solutions managed by best-in-class specialist investment boutiques.

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Top and Bottom performing ETFs for the week of January 9-13, 2017:

Ticker Name % Change Avg Price Weekly Volume $ Volume traded
Top Performers week of (Jan 9-13, 2017)
XBM CN Equity iShares S&P/TSX Global Base Metals Index ETF 8.05% $12.16 252,429 $3,055,750
ZMT CN Equity BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF 6.78% $9.88 896,051 $8,675,819
FDE CN Equity First Trust AlphaDEX Emerging Market Dividend ETF 4.16% $15.24 303,261 $4,600,383
HUN CN Equity Horizons Natural Gas ETF 3.86% $7.05 40,392 $284,808
HNY CN Equity Horizons Natural Gas Yield ETF 3.81% $15.29 52,376 $805,924
XMA CN Equity iShares S&P/TSX Capped Materials Index ETF 2.71% $13.43 1,101,717 $14,797,839
HAF CN Equity Horizons Active Global Fixed Income ETF 2.51% $8.05 43,023 $345,982
ZJG CN Equity BMO Junior Gold Index ETF 2.50% $8.97 2,658,817 $23,902,296
CBQ CN Equity iShares BRIC Index ETF 2.27% $20.16 60,822 $1,212,451
CGL CN Equity iShares Gold Bullion ETF 2.04% $10.38 524,637 $5,444,921
Bottom Performers
XHU CN Equity iShares US High Dividend Equity Index ETF -1.95% $22.29 54,930 $1,228,008
ZEO CN Equity BMO S&P/TSX Equal Weight Oil & Gas Index ETF -2.11% $12.58 1,110,714 $13,951,617
CGR CN Equity iShares Global Real Estate Index ETF -2.14% $28.19 95,756 $2,695,660
CCX CN Equity Auspice Canadian Crude Oil Index ETF -2.56% $8.77 58,518 $513,207
HUV CN Equity BetaPro S&P 500 VIX Short-Term Futures ETF -2.94% $7.65 295,468 $2,299,052
HEE CN Equity Horizons Enhanced Income Energy ETF -3.87% $15.31 28,448 $436,666
XEG CN Equity iShares S&P/TSX Capped Energy Index ETF -3.93% $13.59 20,523,581 $278,399,584
HXE CN Equity Horizons S&P/TSX Capped Energy Index ETF -4.08% $22.11 51,041 $1,126,939
ZJO CN Equity BMO Junior Oil Index ETF -4.67% $17.89 80,755 $1,451,414
ZJN CN Equity BMO Junior Gas Index ETF -4.73% $18.19 28,638 $523,824

Top Performing ETFs – Gold, and by extension, Materials, as well as base metals, alongside Nat Gas and EM fared best against the backdrop of markets reassessing the earlier Trump boost – or whatever we chose to call it.. .

Bottom Performing ETFs – Following recent strong gains, Energy related ETFs pulled back some – are they set to give back further ground?

Sectors breakdown for the week:

Sectors week of Jan 9-13, 2017

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