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Posted by on Dec 2, 2016 in Market Insight, Peritus Asset Management

The Election Impact of the High Yield Market: Rates and Regulation, The Interest Rate Outlook, Part 2

The Election Impact of the High Yield Market: Rates and Regulation, The Interest Rate Outlook, Part 2

By Heather Rupp, CFA, Director of Communications and Research Analyst for Peritus Asset Management, Sub-Advisor of the AdvisorShares Peritus High Yield ETF (NYSE Arca: HYLD)   As we look at the implications of a Trump presidency and Republican controlled Congress, last week we discussed our interest rate outlook.  While the market seems to be jumping to the conclusion that infrastructure and other government spending and the benefit of lower taxes will drive growth and inflation, and with it interest rates, we aren’t a believer that we will see dramatic move upward in rates (Treasury yields) from where we are now.  Part of our reasoning here is the fact the yields on the US medium and longer term Treasuries are much higher versus sovereign debt rates globally.  10-year bonds in much of the rest of the developed world are yielding around 0-1% and many of these economies are still in the midst of quantitative easing and stimulus.1     Between the higher rates the US Treasury bonds already offer relative...

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Posted by on Dec 2, 2016 in Market Insight, Morgan Creek

Around the World with Yusko: From Surprises to Soros: The Best of ATWWY in 2016

Around the World with Yusko: From Surprises to Soros: The Best of ATWWY in 2016

Please join Mark Yusko, CEO and CIO of Morgan Creek Capital Management and Portfolio Manager of the AdvisorShares Morgan Creek Global Tactical ETF (GTAA), on Tuesday, December 13th at 1:00pm EST/10am PST for Morgan Creek’s latest session of the Around the World with Yusko webinar series. Be sure to attend this upcoming webinar titled, Around the World with Yusko: From Surprises to Soros: The Best of ATWWY in 2016. Viewers may, and are encouraged to, submit questions during the event. If you would like to register for the webinar, please click...

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Posted by on Nov 30, 2016 in ETF Strategist, Investment Perspective

Simplicity In All Things Including Portfolio Management

Simplicity In All Things Including Portfolio Management

By: Roger Nusbaum, AdvisorShares ETF Strategist The weekly ETF column in Barron’s looked at research by Moshe Milevsky from York University in Canada that “believes an investor’s career—or “human capital”—is often her biggest asset and should be incorporated into her portfolio just like any other investment.” Someone whose career is more volatile like a salesman of some sort is more of an equity so their portfolio, the theory goes, should be more bond like and someone with more stability like someone covered by a union or tenure is more bond like and should tilt their portfolio to more equity exposure. The article cites Enron employees as an example because the stock many of them held got wiped out and many lost their jobs. The article then went on to connect the idea to looking through ETFs to assess total exposure to company stock. If you work at a megacap company that has a large weighting in all of the broad benchmark indexes and you own shares directly then you...

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Posted by on Nov 29, 2016 in Active ETF Reports, ETF Strategist

AdvisorShares Active ETF Market Share Update – Week Ending 11/25/2016

AdvisorShares Active ETF Market Share Update – Week Ending 11/25/2016

Despite the short week, assets in actively managed ETFs increased by $249 million to $28.486 billion. There was one new fund from FlexShares which takes the overall total to 159. Most of the action came from a net gain of $177 million at First Trust. Virtus added $32 million while iShares netted $11 million. ProShares was the only decliner of note, dropping $26 million. At the strategy level, Alternative Income added $81 million, Short Term Bond grew by $62 million and Bank Loan chipped in with $41 million. The Alternative Bond category contracted by $21 million. To subscribe to our full monthly report, please register at http://www.advisorshares.com/ (note the full report is only available to financial professionals). Number of Active ETFs by Sponsor Number of Active ETFs by Strategy There are risks involved with investing in ETFs including possible loss of money. Shares are actively managed and are subject to risk similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. Shares are...

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Posted by on Nov 28, 2016 in Dennis Gartman, Market Insight

Did The Dollar Eat Too Much Turkey?

Did The Dollar Eat Too Much Turkey?

November 28, 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. *nbsp; The US$ is weakening as the long awaited correction is upon us with little in the way of real, consequential fundamental news to account for the correction. We shall suggest that nothing more than “gravity” and need for markets to reverse when they’ve become as aggressively over-extended as had the dollar vs. the Yen and the dollar vs. the EUR are at “fault” here this morning. If one needs some “fundamental” rationale for the dollar’s weakness other than the over-bought nature of the markets we shall grant the notion that some new confusion is developing regarding the US Presidential election noted at some length below in our discussion of the “Political Situation.”...

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