Monday morning briefing – June 24, 2019

Can the Fed Chairman be replaced? How geopolitical risks impact emerging markets. Facebook is planning a new cryptocurrency. Advisors are preparing for a possible recession. Plus much more news in this week’s briefing.

Economic/industry news

The Fed holds steady, raises expectations of rate cut: Fed holds rates steady, but opens the door for a rate cut in the future

The Bank of England kept its Bank Rate steady at 0.75%: BOE warns on global economic outlook as it holds rates steady

The inflation rate in Canada rises to 2.4% in May: Canadian ‘inflation is back’ as rate rises most since October

Can Fed Chairman Powell be replaced?: Trump believes he has the authority to replace Powell at Fed

The impact of geopolitical risk on emerging markets investments: Geopolitical tensions high on investors’ list when examining emerging markets

News and notes (U.S.)

Hedge funds fell 0.71% in May: Eurekahedge Hedge Fund Index down 0.71 per cent in May

Hedge fund redemptions were US$9.4 billion in April: Hedge fund redemptions slow in April

Paulson & Co. to exit London: John Paulson’s hedge fund scales back operations

Goldman Sachs increasing its PE presence: Goldman Sachs looks to become the next private equity giant

The use of subscription credit facilities rising: Private capital funds increasingly turning to subscription credit facilities

How IPOs backed by PE and VC have fared in 2019: Here’s how much VC- and PE-backed IPOs have raised in 2019

Will the SEC open up hedge funds and PE funds to retail investors?: Hedge funds for all: SEC ponders letting in the not-so-rich

U.S. retirement assets rebounded in the first quarter: Retirement assets recover from fourth-quarter swoon

News and notes (Canada)

First Asset launches the CI First Asset High Interest Savings ETF: First Asset launches high-interest savings ETF

SSQ launches Smart Beta Plus Portfolios: SSQ delivers Canadian first with turnkey portfolio products

Sun Life launches SLC Management: Here comes a new $160 billion asset manager

Manulife partners with Mahindra and Mahindra of India: Manulife enters joint venture in market of more than 1 billion people

Stifel Financial purchases GMP Capital’s capital markets business: Deal throws shackles off ambitious Richardson GMP

The Trans Mountain pipeline expansion gets approved, again: Trans Mountain expansion gets second green light from Ottawa

On the pulse – New frontiers in fintech

A look at AI in the financial services industry: What the age of AI means for Wall Street

Four trends that will lead to more innovation in fintech: 4 trends that will rewire the inner workings of the fintech industry

A look at the growth of point-of-sale financing: POS finance growth is threat and opportunity for banking providers

Fintech having a positive effect on consumers: Fintech boom has consumers reaping the benefits

Some key financial marketing trends that you need to know: 6 financial marketing takeaways from the 2019 Internet Trends Report

Looking at the impact of GDPR on AI: GDPR – How does it impact AI?

A look at the industries that could be transformed by blockchain: Banking is only the beginning: 55 big industries blockchain could transform

Blockchain company Ripple to invest in MoneyGram: Ripple buys stake in MoneyGram

Facebook to enter cryptocurrency space: Facebook plans its own currency for 2-billion-plus users

High-net-worth topics

A look at how to better serve the wealthy: How advisors can improve service for affluent clients

A digital experience in wealth management is important to the wealthy: Wealth managers and high-net-worth clients embrace digitization

Polls & surveys – What financials are saying

Over half of fund managers believe trade is the top risk to the market (BoAML): Bears are everywhere, Merrill investor poll finds

Advisors are preparing their business for a possible recession (Schwab): Advisors are bearish on markets, bullish on their own growth

Many millennial self-directed investors may move their business to another platform (J.D. Power): Millennials less satisfied with self-directed investing: report

Impact investors are meeting their financial goals (Global Impact Investing Network): Survey: 91% of impact investors happy with performance

For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.