Light Hearted (TWTW – Feb 6-10, 2017)

Light Hearted – How some described Trump Advisor Kellyanne Conway’s plug for Ivanka Trump’s fashion line, as she urged Americans to go buy it on TV last Thursday…

Of course, at the other end of this, the Donald was going all out on TWITTER to vilify Nordstrom, which had abandoned his daughter’s line as it wasn’t selling …

#Long4years (of this kind of non-sense?)

Latest Developments:

  • Markets – While the Dow Jones, Nasdaq, and S&P500 reached new records last week – interesting to note that leaders on the week overall are actually Gold and Materials…
  • Politics – Marine le Pen according to Bloomberg unveiled a manifesto pledge to take her country out fo the euro. (apparently some bank – which one doesn’t come to mind at the moment … suggested that even if that came to pass, it wouldn’t mark the end of the EURO… I guess they buy into the irreversibility argument from Draghi… then again – by the time everybody exits … what is the EURO then? a weaker Deutsche Mark?)
  • China – China’s currency reserves are at their lowest level of below $3 Trillion in January, their lowest point since early 2011
  • Greece – the next chapter of an ongoing nightmare? Yields push 10%…
  • Gold – Billionaire investor Druckenmiller revealed he had recently bought gold as a currency substitute – seeing that everyone wants their currency to weaken, which he interpreted as meaning he’d be better off in gold that no one was looking to push down…
  • Bombardier – finally gets some $$$ out of the Federal Government … but with plenty criticism from all corners … and already the Brazilians going to the WTO to complain on behalf of their own manufacturer – Embraer…
  • Upcoming – Janet Yellen’s semi-annual testimony to Senate Banking Committee: Opportunity to get a sense of how the FED will go about their 3 2017 hikes as Trump’s Fiscal initiatives seen possibly stoking inflation …

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 1.53% PXG RAFI Global Fundamental 0.90% VCN FTSE Canada All Cap Index ETF 1.63%
XIC S&P/TSX Capped Composite 1.63% PXS RAFI US Fundamental Index 1.26% VCE FTSE Canada Index ETF 1.47%
CRQ RAFI CDN Fundamental 1.67% QQC/F NASDAQ 100 CAD Hedged 1.40% VUN CRSP US Total Market Index Unhedged 1.36%
XSP S&P 500 CAD Hedged 0.92% PZC RAFI CDN Small-Mid Fundam 1.65% VSP S&P 500 CAD Hedged 0.94%
XUS S&P500 1.37% VXC FTSE All-World Ex Canada Index ETF 1.21%
XMU MSCI Min Vol US 1.50% XXM/b Morningstar US Value (Unh) 0.73% VEF FTSE Developed ex North-Am CAD H 0.84%
CLU RAFI US Fund 1000 CAD H 0.56% YXM/b Morningstar US Momentum (Unh) 1.79% VDU FTSE Developed ex North-America 0.58%
XSU Russell 2000 CAD Hedged 0.88% FXM Morningstar CDN Value 1.77% VE FTSE Developed Europe -0.12%
XIN MSCI EAFE CAD Hedged 0.76% WXM Morningstar CDN Momentum 0.98% VA FTSE Developed Asia Pacific 1.26%
XEH MSCI Europe IMI CAD H 0.63% VXM/b Morningstar Intl Value (Unh) 0.00% VEE FTSE Emerging Mkts 2.07%
XEC MSCI EM IMI 1.64% ZXM/b Morningstar Intl Momentum (Unh) 0.75% HAZ Active Global Dividends 1.20%
XMM MSCI Min Vol Emerging 1.56% RWE MSCI Europe Low Risk Weighted (H) 1.53% HHF Morningstar Hedge Fund Index 0.58%
CWO RAFI Broad Emerging 2.28% HMF Auspice Managed Futures 0.10%
CJP RAFI Fundam Japan CAD H 1.28% ZDJ Dow Jones CAD Hedged 1.19% HAC Seasonal Rotation 1.02%
CDZ CDN Div Aristocrats 0.82% ZEQ MSCI Europe High Quality CAD H 1.43% HPR Active Preferred Shares -0.22%
week of: Feb 6-10, 2017 Source: ETFinsight/Bloomberg

Weekly Volumes for the week of Feb 6-10, 2017:

weekly volume data:
Total Volume non-leveraged $4,835,593,783
top 10 Volume non leveraged $1,978,999,259
Total Volume leveraged $1,614,631,559
top 5 Volume leveraged $1,191,420,986
Total Volumes overall: $6,450,225,342
Top 10 + Top 5: $3,170,420,245
top 10 non leveraged % of total nl: 40.9%
top 5 leveraged % of total leveraged 73.8%
Top 10 + Top 5 as % of total traded: 49.2%

volumes week ending feb 10, 2017

iShares – Rieder: “Why a March Hike is on the table

Turnill:upgrading European Equities; downgrading EM Debt

Vanguard – Rounded out their offering by launching 4 additional Canadian Bond ETFs => Click HERE to read more! Want to try something fun? Try reading out loud the name of each of these Bond Index ETFs at increasing speed. Tell me if that isn’t a mouth full? And tell me I am not the only one needing to catch my breadth half way through?

Horizons – HPR through $1 Billion => Click HERE! HMP: fees lowered=> click HERE!

First Asset – Momentum ahead on the week both in US and Internationally, while in Canada – Value continues to rule …

Other:

BMO ETFs – to launch Short, Mid, and Long US Treasury Bond ETFs, both CAD trading and USD trading, come mid-February, on … NEO Exchange.

Hamilton Capital – launches Global Financials Yield ETF (HFY) => Click HERE!

ETFinsight – February Perspectives: Not in your best Interest

Overall industry AUM – at CAD 115.8 Billion, a new high and up markedly year-over-year, also the year ago number, obviously, was depressed by market conditions at the time – recalling that early 2016 was … to quote a Donald who likes the word quite a bit: a disaster!

Top and Bottom performing ETFs for the week of Feb 6-10, 2017:

Ticker Name % Change Avg Price Weekly Volume $ Volume traded
Top Performers week of (Feb 6-10, 2017)
ZJG CN Equity BMO Junior Gold Index ETF 5.60% $9.96 1,498,514 $14,975,324
ZGD CN Equity BMO S&P/TSX Equal Weight Global Gold Index ETF 5.44% $11.55 178,003 $2,027,074
XGD CN Equity iShares S&P/TSX Global Gold Index ETF 4.25% $14.16 12,143,767 $172,058,693
ZMT CN Equity BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF 4.24% $10.74 817,999 $8,744,947
XCH CN Equity iShares China Index ETF 4.22% $23.51 49,166 $1,160,080
XMA CN Equity iShares S&P/TSX Capped Materials Index ETF 4.11% $14.48 429,810 $6,219,846
MXF CN Equity First Asset Can-Materials Covered Call ETF 4.05% $17.05 36,854 $629,716
ZLE CN Equity BMO Low Volatilty Emerging Markets Equity ETF 3.23% $20.29 70,461 $1,425,055
HEP CN Equity Horizons Enhanced Income Gold Producers ETF 3.11% $28.09 190,840 $5,333,460
SVR CN Equity iShares Silver Bullion ETF 3.09% $9.88 83,624 $827,750
Bottom Performers
RPF CN Equity RBC Canadian Preferred Share ETF -0.48% $23.04 882,915 $20,347,816
EUR CN Equity First Trust AlphaDEX European Dividend Index ETF CAD-Hedged -0.73% $21.85 191,560 $4,138,063
ZFH CN Equity BMO Floating Rate High Yield ETF -0.84% $15.34 335,101 $5,139,300
HFP CN Equity Horizons Active Floating Rate Preferred Share ETF -0.87% $9.19 240,156 $2,205,249
HXX CN Equity Horizons Euro Stoxx 50 R Index Etf -0.88% $25.93 66,016 $1,717,081
ZJO CN Equity BMO Junior Oil Index ETF -0.94% $16.58 114,282 $1,897,284
HPF CN Equity Energy Leaders Plus Income ETF -1.32% $5.95 87,334 $520,880
CCX CN Equity Auspice Canadian Crude Oil Index ETF -2.11% $8.78 54,480 $475,026
HUV CN Equity BetaPro S&P 500 VIX Short-Term Futures ETF -3.02% $6.59 216,387 $1,424,568
FHB CN Equity First Asset European Bank ETF -4.12% $7.81 177,236 $1,407,254

Top Performing ETFs – Led by Gold, Gold stocks, and related ETFs … is this the sign of confidence one would like at this juncture? or an indication of pending problems hitting the news shortly?

Bottom Performing ETFs – Still no meaningful volatility pick up out there … although hard to fathom we won’t get some sizable spikes in coming weeks and months…

Sector Performance for the week:

sectors performance for the week of feb 10, 2017

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