Look at any newspaper or watch any financial news channel and you will hear someone saying the U.S. economy is growing. To prove their point, they will refer to gross domestic product (GDP) figures and unemployment data. Yes, the GDP numbers and the unemployment picture do look better, but our economy is still in very big trouble.
UBS (UBS) rolled out the ETRACS Diversified High Income ETN (DVHI) on Thursday (9/19/13). The new exchange traded note (“ETN”) is targeted at investors desiring significant monthly income from a diversified multi-asset mix. It will track the new NYSE Diversified High Income Index minus the 0.84% annual tracking fee. The underlying index has a current yield of 7.7%, and the ETN will make monthly cash distributions.
Investors have had to endure much more volatility in the past few weeks. We may know why — the Federal Reserve put an expiration date on its $3 trillion-plus bond-buying program. But some investors don’t know how to proceed. The Fed’s easy-money policy — mainly known as quantitative easing, or QE — probably will end next year.
Company Update: CME Group Inc (NASDAQ:CME) – CME Group fines Credit Suisse, JPM units for trading violations
[Reuters] - CME Group Inc on Friday fined a unit owned by JPMorgan Chase & Co $210,000 and an affiliate of Credit Suisse $175,000 for various trading violations. It was the second time in just over two months that CME Group, the world's largest futures exchange operator, fined Credit Suisse for problems with its automated trading systems in 2012. Credit Suisse and JPMorgan declined to comment. CME Group fined Credit Suisse Securities after an automated trading system malfunctioned in December 2012, causing an excessive number of electronic orders and cancel messages to be entered in the Two-Year Treasury market. Read more on this. CME Group Inc. (CME), with a current market cap of $29.82B, started the session at $88.50. Looking at the equity, the company's one day range is $87.68 to $88.94 and has traded between $66.44 and $93.91 over the past year.
Since the inception of the Investment Company Act of 1940, investors have grown to expect every mutual fund, closed-end fund (“CEF”), and exchange traded fund (“ETF”) to be treated as a “pass-through vehicle” for tax purposes. The entity itself would not pay any taxes, and all tax liabilities would be passed-through to the shareholders. That was the status quo for decades, until master limited partnership (“MLP”) funds came along.
The Energy Report: Jason, last summer oil was more than $100/barrel ($100/bbl) and most analysts were forecasting long-term stability in the $80+/bbl range. What tipped the oil price into freefall in July? Jason Wangler: For the last five to seven years, Saudi Arabia has effectively filled the hole between supply and demand.