2018 marks the 40th anniversary of the S&P/BMV IPC, launched on Oct. 30, 1978, as part of the Mexican market revolution. Honoring that milestone, we revisited the evolution of the index that has since become an icon of the Mexican equity market.[1] As of Dec. 31, 2017, Mexico had 141 listed domestic companies, with a Read more […]
It is now three years since the historic events at the UN Climate Conference in Paris in December 2015. At that event, with much relief and emotion, the countries of the world came together to agree that global emissions should be limited. We would collectively seek to contain the temperature rise to within 2 degrees Read more […]
Fifty years ago, there were no index funds—all assets were managed actively. The subsequent shift of assets from active to passive management in the U.S. and European markets could be considered one of the most important developments in modern financial history, and this shift was the consequence of active performance shortfalls.[1] In India, we have Read more […]
29 months after the referendum that triggered Britain’s departure from the E.U., and a little over four months from the scheduled departure date, the nature of the ultimate exit deal (if any) remains uncertain. What can indices tell us about the market’s reaction and expectations? The volatility of the pound sterling has offered a direct link to the uncertainty Read more […]
One of the largest ever changes to the Global Industry Classification Standard (GICS®) went into effect prior to the open on Monday 24th September, affecting around 10% of the S&P 500’s market capitalization. In case you missed our previous announcements, here is a brief explanation of GICS, what changed, and why these changes went into Read more […]
Why? Trade Hopes dashed – It turned out a deal with China wasn’t quite yet a done deal. Politicians should be reminded that markets move much faster than trade negotiations or Congress. Yield Curve approaching inversion – Five-year drops below two-year, but maybe we should wait for the ten year to drop too. Rising Interest Read more […]
In November, there was high market volatility in response to at least a few major events including the U.S. midterm elections, Brexit, G20 and Fed Chair Powell’s comments. The risk (measured by 30-day annualized volatility) on Nov. 30, 2018 for the S&P 500 was 20.6%, which is 3.5 times higher than its risk of 5.9% Read more […]
After more than a year of negotiations, the United States-Canada-Mexico Agreement (USMCA) is scheduled to be signed on Nov. 30 2018, at the G20 Summit in Argentina. The deal represents the new trade agreement between the former North American Free Trade Agreement (NAFTA) countries. Market participants who want to gain more insight into the potential Read more […]
Over the past few months, there has been a flurry of activity in the financial advisor segment of Australia. In mid-September 2018, S&P Dow Jones Indices (S&P DJI) hosted an exchange-traded fund (ETF) seminar in Perth, Western Australia. This was S&P DJI’s second foray in the West, and with Perth being one of the world’s Read more […]
The latest Canada SPIVA® scorecard landed recently. While data up to the end of June 2018 was consistent with results from previous SPIVA Canada scorecards – active management once again found it challenging to beat the passive benchmarks – there were pockets of success. Here are a few highlights. Active managers found it difficult to Read more […]
