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Mischief Over The China Sea

Posted by on Sep 27, 2016 in Dennis Gartman, Market Insight

September 26, 2016 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   Now that the FOMC and BOJ meetings are out of the way and by the calendar from the ECB’s own website we’ve not a monetary policy council meeting there until the 4th of October, the market is left to wonder about and deal with day-to-day comments from central bank spokespeople as well...

AdvisorShares Weekly Market Review – Week Ending 9/23/2016

Posted by on Sep 26, 2016 in ETF Strategist, Market Insight

Highlights of the Prior Week What Did The BoJ Actually Do? Macro The Bank of Japan appears to have issued a confusing policy announcement on Wednesday. Bespoke Investment Group took the news as saying the BOJ would attempt to manage the yield curve to be flatter while Barron’s reported that the BOJ would attempt to manage the yield curve to be steeper. A flat yield curve generally makes lending less profitable and so is thought to impede access to capital which would seem to be the opposite of a stimulative policy. This sent the dollar lower against the yen which would also seem to be the opposite of what...

9/26/16 Macro Update

Posted by on Sep 26, 2016 in Laif Meidell, Macro Update

Please listen to American Wealth Management’s Laif Meidell and Heidi Foster discuss the latest events and trends across the markets in their weekly Macro Update. Mr. Meidell also serves as portfolio manager of the AdvisorShares Meidell Tactical Advantage ETF (NYSE Arca: MATH) and the AdvisorShares Market Adaptive Unconstrained Income ETF (NASDAQ: MAUI).  ...

The Labor of LIBOR

Posted by on Sep 23, 2016 in Market Insight, Pacific Asset Management

Pacific Asset Management (PAM) is a Newport Beach, Calif.- based SEC registered investment adviser that specializes in institutional fixed income management, and features an investment professional team that carries multiple decades of experience managing an diverse suite of actively managed bond and floating rate loan portfolios, including as sub-advisor to the AdvisorShares Pacific Asset Enhanced Floating Rate ETF (FLRT).   Since mid-June, the three-month London Interbank Offered Rate (LIBOR)1 has increased by approximately 20 basis points.2 This is despite an unchanged federal funds rate in the United States and caution by the U.S. Federal Reserve (Fed) on future rate hikes. The rise in LIBOR has been driven in part...

Using Momentum to Invest in ADRs Proves Highly Effective Says Dorsey, Wright & Associates’ John Lewis

Posted by on Sep 22, 2016 in Investment Perspective

Editor’s note: This is an excerpt from a feature in HedgeWeek on Dorsey Wright & Associates investment process as well information about the ADR market.   Back in July 2014, the Sterling/US Dollar exchange rate was reached a high of USD1.71 but since then it has headed south, falling as low as USD1.29 following Brexit. This downward trend has been a boon for US investors travelling to Europe on vacation. And whilst many have continued to focus their investment portfolios on US domestic stocks, the idea of actually owning international stocks has taken a back seat. This is ill advised, however, given that there are already early signs that...

Allocation Efficiency

Posted by on Sep 21, 2016 in ETF Strategist, Market Insight

By Roger Nusbaum, AdvisorShares ETF Strategist   Last week, Bloomberg TV had an interesting segment on increasing correlations in the last few days as prices for equities, bonds and even gold all went down. It noted a sharp decline for risk parity as measured by the Salient Risk Parity Index. Ray Dalio and Cliff Asness are probably the two most well-known managers who use the strategy or at least a version of it. Risk parity weights exposure to the asset classes such that it attempts to balance out the risk of being in those asset classes. This means bonds have a much greater weighting than equities to the point...

AdvisorShares Active ETF Market Share Update – Week Ending 9/16/2016

Posted by on Sep 20, 2016 in Active ETF Reports, ETF Strategist

Assets inactively managed ETFs were essentially unchanged, adding $6 million to total $27.162 billion. There was one new fund listed from JP Morgan, which brings the total up to 149. PIMCO was the largest gainer bringing $60 million followed by $27 million for State Street. iShares endured a $42 million outflow while WBI dipped by $25 million. At the sector level Short Term Bond was again out in front, bringing in $41 million while Global Bond added $24 million. Tactical contracted by $22 million, Alternative lost $15 million and High Yield was down by $14 million. To subscribe to our full monthly report, please register at http://www.advisorshares.com/ (note the...

Equity Prices: Utterly & Completely Confusing

Posted by on Sep 19, 2016 in Dennis Gartman, Market Insight

September 19, 2016 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   SHARE PRICES HAVE FALLEN JUST A BIT SINCE FRIDAY as our International Index has fallen 16 “points” or just a bit more than 0.1%, led downward by weakness in European and South American share prices; however, with the return of the markets in mainland China and Hong Kong… both of which are...

AdvisorShares Weekly Market Review – Week Ending 9/16/2016

Posted by on Sep 19, 2016 in ETF Strategist, Market Insight

Highlights of the Prior Week The FOMC Meets To Determine The Fate Of The Galaxy Macro The FOMC is scheduled to meet this week and while the fate of the galaxy may not actually be in play, market participants are of course very focused on whether or not there will be a rate hike this week or in December (it seems no one gives credence to a November hike) and if there is a hike whether it would be a one and done or the start of a tightening cycle. Dennis Gartman argues that the FOMC began to tighten a year and a half ago when it ended it...

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