ETF Financial News

The FCA opted for a censure, arguing it was inappropriate to impose a financial penalty on an insolvent firm.

The recent resilience of the US economy, as demonstrated by the unexpected addition of 336,000 jobs in September, might hold positive implications for the growth of Bitcoin (BTC), Yield App chief investment officer Lucas Kiely has argued.

By Manya Saini and Niket Nishant

On Wednesday, Bitcoin price experienced a minor setback, with its price declining by 1.75% to trade at $27,325. This dip comes amidst a flourishing economy, suggesting that now might be an opportune moment for investors to delve deeper into the world of Bitcoin. 

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Europe also witnessed a fourth consecutive monthly outflow in gold ETFs. Regional gold ETFs suffered a loss of over $1 billion, or 28 tonnes during September – a month in which the European Central Bank delivered its tenth consecutive rate hike and reiterated that rates will stay “at sufficiently restrictive levels for as long as necessary." Gold prices declined 3.7% in September dragged by a sharp uptick in bond yields alongside a stronger dollar.

Recent events have proven once again how highly volatile the cryptocurrency market is. Bitcoin, the flagship cryptocurrency, recently experienced a significant price dip below $28,000, causing concern among traders. Meanwhile, the much-anticipated Ether exchange-traded funds (ETFs) failed to excite in their debut. 

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Key Takeaways

Sanjiv Bhasin, Director, IIFL Securities, says “pharma is a proxy to a weak rupee and a stronger dollar becomes a very good alibi. Thirdly, the business is doing extremely well. So, Aurobindo, Lupin and Sun Pharma on declines could be a very good basket. More than that, if you cannot choose the stocks, better do a SIP in the likes of SBI or a Nippon fund. They have very good pharma funds which have got a basket of stocks. So, an ETF over there would be a very good idea if you want exposure into pharma.” What is your view on the pharma space? The latest note by Macquarie seems to be really advocating largecaps like Sun Pharma, Dr Reddy's, etc. But given the kind of move that we have already seen, what is your outlook on pharma at the current juncture? Pharma has been a darling of the market in the last two months after most people had written it off post Covid. But the results and the under-ownership, particularly of stocks like Auro Pharma and Lupin, which are two stocks which we have accumulated – a disclosure. We think that the largecap pharma is a very comforting space given that IT still has some of the headwinds, pharma as a proxy to a weak rupee and a stronger dollar becomes a very good alibi. Thirdly, the business is doing extremely well. So, Aurobindo, Lupin and Sun Pharma on declines could be a very good basket.

Wall Street's major indexes closed higher on Monday while energy stocks rallied as investors digested the latest news about the conflict between Israel and the Palestinian Islamist group Hamas. The Israeli military said it called up reservists and was imposing a total blockade of the Gaza Strip in signs it could be planning a ground assault there to defeat Hamas which launched a deadly attack over the weekend. But late in the afternoon, a senior Hamas official said the group is open to discussions over a possible truce with Israel. U.S. President Joe Biden said he directed his team to coordinate with regional partners to warn anyone seeking to take advantage of the situation. News of the conflict sparked an oil rally due to supply concerns.

Legendary investing guru Peter Lynch popularized the idea of investing in what you know and what you see with your own two eyes. So when financial advisors view the half-empty office buildings right in front of them, should they also be seeing an investment opportunity for their clients?

Swiss-based real-world asset tokenizer Backed has introduced its latest tokenized security product, bIB01, on the Base blockchain, Coinbase's Layer 2 (L2) network.

Friday's surge on daily time frames set up solid finishes on weekly time frames for the Nasdaq and S&P 500, while the Russell 2000 (IWM) remains in trouble.

U.S. stocks rallied on Friday, with the S&P 500 and Nasdaq registering their biggest daily percentage gains since late August as investors digested a U.S. jobs report that showed hiring rose broadly in September while wage growth slowed.

The ongoing bear market in Treasury bonds is among the worst on record, but several sectors of the fixed-income market remain ports in a storm, based on year-to-date results through Thursday (Oct. 5) for a set of fixed-income ETFs.

mutual funds such as gilt schemes which bet on long-term government securities. Fund managers believe the Reserve Bank of India's move to leave the repo rate unchanged at 6.5% with a focus of bringing inflation down presents an opportunity to long-term fixed-income investors. Investments in such funds with a two- to three-year view would help earn about 200 basis points above inflation, they believe. «The 10-year benchmark yield above 7% presents a good opportunity for long-term fixed-income investors to stagger their investments into long-tenure funds over the next four-six months» said Sandeep Bagla, chief executive at Trust Capital. Such a strategy would help investors beat inflation and also earn a capital appreciation when interest rates fall, according to him. Fund managers believe the near-term rates are likely to be volatile and could move a bit higher given the RBI indication of open market operations to manage liquidity. This move has already pushed up the 10-year benchmark by 13 basis points to 7.38%. In the last quarter, the 10-year benchmark bond yield had risen just 20 bps. A note by Franklin Templeton Mutual Fund says with the likelihood of core inflation staying sticky and likely moderation in growth, the easing rate cycle could only start in the fourth-quarter of calendar 2024, in the form of shallow cuts.

There may be advantages to owning corporate bonds right now.

Investment management firm ProShares Advisors has introduced six new futures products for Ether, marking the cryptocurrency's debut in the ETF market. 

Bitcoin traded between US$27,500 and US$27,800 this week. Factors such as a surge in the US 10-year Treasury yield by 11 basis points to reach 4.8% on Tuesday, and traders capitalizing on recent profits, led to a period of consolidation. The immediate resistance levels for Bitcoin on the upside are located around US$27,650 and subsequently US$28,000. A decisive breakthrough above the US$28,000 resistance level could trigger another bullish run. However, if Bitcoin fails to maintain its upward momentum, the next support level is positioned around US$27,400, with further support possibly at US$27,200. It's noteworthy that Bitcoin has demonstrated a remarkable year-to-date performance, surging by 65%, although it remains down by 59% from its all-time high. In parallel with Bitcoin, Ethereum closely followed a similar trajectory in its price action. Ethereum initiated an attempt at recovery, originating from the US$1,630 zone. Key resistance levels for ETH are seen at US$1,650 and then US$1,720. Failing to breach these immediate resistance levels could lead to a retracement, with the next crucial support situated at US$1,600. Despite a 66% decline from its all-time high, Ethereum has shown resilience in 2023, registering a 34% increase year-to-date.

Switzerland-based blockchain protocol Backed Finance has launched the first-ever tokenized government bond on the Base network. 

There’s a difference in the investing world between thinking you know something and actually knowing it, with the former linked to paying higher investment fees, according to a study published Friday by the Finra Foundation.