Monday-morning-briefing

Monday morning briefing: December 18, 2017

Fintech developments, regulatory change, advisor and investor insights – these are the most important stories in the financial industry – and they’re unfolding now. Check it out and stay ahead of economic, market and technology trends.

Economic/industry news

International Economic Data Snapshot – includes aggregated data of the worldwide economy: Snapshot: International Economic Data

U.S. Federal Reserve Board (“Fed”) announces rate hike to 1.50%: Federal Reserve raises benchmark interest rate to 1.25 – 1.50%

Bank of England (“BoE”) leaves Bank Rate at 0.50%: BoE holds interest rate, promises ‘modest increases’ over next few years

European Central Bank (“ECB”) holds rate steady at 0.00%: ECB keeps rate steady, guidance unchanged

Environmental, social and governance (“ESG”) funds perform well against their peers on a risk-adjusted basis: Does sustainable investing help or hurt returns?

The formation of Aviso Wealth and the delivery of wealth-management services to credit unions: Qtrade, Credential and NEI Investments announce merger

The week ahead: bitcoin futures on CME, Canadian gross domestic product (“GDP”) and more earnings: The week ahead: U.S. decision on CSeries duties; BlackBerry earnings

On the pulse – New Frontiers in fintech

This AI Power Equity ETF has been one of the most successful funds of the year: AI is better at picking stocks than the stock market

Vanguard moves to use blockchain to simplify updates to index data: Vanguard looks to blockchain for index data

Bitcoin, regtech, open banking and other predictions for 2018: 10 fintech predictions for 2018

A data future, blockchain and fintech collaboration among the top financial services trends for 2018: Top 7 financial services trends that will dominate 2018

ING rolls out a new AI tool, Katana, to help traders quote bond prices: ING bond traders get cognitive boost with Katana

Galileo debit, credit and transaction processing to utilize AI capabilities to identify fraud: Galileo launches fraud artificial intelligence

Seven critical changes are coming as fintech matures: Bracing for seven critical changes as fintech matures

Fed Chair, Janet Yellen, says bitcoin is still a “highly speculative asset” and “not a stable source of value.”: U.S. Fed Chair speaks out on bitcoin and national crypto

News and notes (U.S.)

The global economic outlook for 2018 (PIMCO): Peak Growth

Another 2018 outlook (BlackRock): Taking a look at BlackRock’s 2018 outlook

Two firms have applied to the SEC for approval of their Bitcoin ETFs (Rex ETFs & VanEck): Bitcoin ETFs seek approval following launch of futures

77% of financial professionals would consider an actively managed mutual fund with passive-like fees, that incorporate higher fees only when it outperforms its benchmark (AllianceBernstein): New AB study finds financial professionals want the best of both worlds: active management with passive-like fees

57% of Americans plan to take on some form of debt for gift-giving (COUNTRY Financial): ‘Tis the season of debt: more than half of Americans admit to making poor financial decisions this holiday season

Which are the largest U.S. retail banks (BankDirector.com): Bank Director Magazine ranks largest U.S. retail banks

What Canadian financials are saying – Polls & surveys

Canada is poised to be the G7’s growth leader in 2017 (Royal Bank of Canada): Canada’s economy ready to keep rolling in 2018, while on track to post the strongest G-7 performance in 2017. Full report here: Economic and Financial Market Outlook

In its final report, the Competition Bureau recommends modernizing regulations to encourage the adoption of new technologies in the financial services sector: Advancing the dialogue on the future of financial services

High-net-worth topics

51% of U.S. affluent investors are concerned about their financial security in retirement. 48% believe that the stock market will perform better in 2018: Affluent investors divided on how Trump will affect their portfolios, Personal Capital and ORC report finds

By looking past the traditional definition of risk, high-net-worth investors are turning conservative investing upside down: Turning conservative investing upside down

High-net-worth can bring the family together with a thoughtful and value-oriented giving strategy, from BNY Mellon: Advisors: Do your high-net worth clients’ charitable contributions build a family legacy?

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