New ETFs On The Block: SPDR Doubleline Emerging Markets Fixed Income ETF (EMTL)

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91551519State Street Global Advisors (SSgA), the Boston-based third largest US issuer of exchange-traded funds, and DoubleLine Capital – promoted by star fixed-income manager Jeffrey Gundlach, recently rolled out a pair of new ETFs; one aimed at fixed income securities from emerging markets and another at short-maturity bonds.

The actively managed SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) seeks to provide exposure to emerging market fixed-income instruments, both corporate and sovereign issuers, and aims to beat the performance of the JP Morgan Corporate Emerging Market Bond Index (broadly diversified).

ETML has tapped a largely virgin niche since there were only four actively managed bond funds prior to its launch. DoubleLine’s expertise in sovereign screening, duration positioning and risk management, combined with their bottom-up research that includes sovereign macro overlays, does make for a compelling investment case for the new fund.

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ETF/No Load Fund Tracker Newsletter For May 13, 2016

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ETF/No Load Fund Tracker StatSheet

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https://theetfbully.com/2016/05/weekly-statsheet-for-the-etfno-load-fund-tracker-newsletter-updated-through-05122016/

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Market Commentary

MARKETS END WEEK ON A DULL NOTE

Fri pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

Although all 3 major indexes ended in the red, we heard some positive news that retail sales rebounded in April and jumped 1.3% after dropping 0.3% in March. It is the largest rise in 13 months and the increase was partly due to higher gasoline prices and auto sales. Retail sales, excluding gas and autos, rose 0.6%. Names like Nordstrom (JWN) and J.C. Penny (JCP) reported poor earnings figures today, however, the big beat on overall retail sales figures for April suggests that there has been allegedly resurgence in consumption, following a weak first quarter.

Major U.S. stock indexes have also been hit by a continued fall in shares of tech giant Apple (AAPL). The stock remains under pressure following its sub-par Q1 earnings report in late April that showed the first-ever quarterly decline in iPhone sales due to a maturing smart phone space. Apple was briefly supplanted Thursday as the world’s most valuable company measured by market value by Google (GOOGL) parent Alphabet. Apple shares are down 14.2% in 2016 and have fallen 2.6% so far this week heading into Friday’s trading.

The price of U.S.-produced crude was also in retreat, falling 55 cents, or 1.1%, to $46.19 a barrel. The $46.19 mark still maintains a continued long-term upward movement.

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Weekly StatSheet For The ETF/No Load Fund Tracker Newsletter – Updated Through 05/12/2016

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ETF/Mutual Fund Data updated through Thursday, May 12, 2016

TOC042816

If you are not familiar with some of the terminology used, please see the Glossary of Terms.

 

1. DOMESTIC EQUITY MUTUAL FUNDS/ETFs: BUY — since 4/4/2016

TTI

Our main directional indicator, the Domestic Trend Tracking Index (TTI-green line in above chart) has recently crossed above its long term trend line (red) by +1.26% generating a new Domestic Buy signal effective 4/4/2016 as posted on the blog.

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Treading Water

Ulli Market Commentary Contact

Thur pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

It was a mixed day as the the above intra-day chart of the S&P 500 shows. Dancing above and below its unchanged line and ending 0.02% lower isn’t exactly a sign of a strong bull market.

The Nasdaq fared the worst as Apple got clobbered again tumbling to a two-year low producing a heavy drag on the major indexes. Worries about slowing demand for iPhones were seen as the culprit.

There seems to be a lack of conviction in the market by both, buyers and sellers as the economy grinds along without making any headway. Retailers have been suffering with the latest casualty being Nordstrom with their disaster earnings announcement after hours. As I am writing this, the stock is getting clobbered at the tune of -17%. Ouch…

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Disney Miss Brings Down Dow

Ulli Market Commentary Contact

Wed pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

After posting its biggest daily gain since March 1, the Dow’s upward move did not last too long and the warm fuzzy feeling from yesterday dissipated in a hurry.

Hitting the markets today, was the news that Staples (SPLS) decided to bail on its $6.3 billion acquisition of Office Depot (ODP) after a federal judge blocked a merger bid. Apparently, the judge sided with regulators that a joining of the two companies could impair competition in the near future. Shares of Staples fell more than 17%.

Another big downer for the Dow was that Q1 earnings from Disney (DIS) missed for the first time in five years. Subsequently, the news pushed Disney shares down 4.0% to $102.29. Disney’s big loss was responsible for the bulk of the Dow’s decline today.

U.S. Crude Oil maintained its recent rise to close at $46.07 per barrel. The commodity keeps pushing towards the $50 mark and oil bulls are hoping that the economy will hit that mark by summer time. Given massive production increases worldwide, slowing demand and overflowing storage facilities, I would not hold my breath for that one.

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Volatile Monday; Solid Tuesday!

Ulli Market Commentary Contact

Tue pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

After a volatile session to kick off the week Monday, U.S. stocks surged today as Wall Street attempts to gauge the market’s next move amid a recent stall in momentum after a sizable rally off of the lows in February. If you are looking for a reason to support the rally, there wasn’t any as economic data remains week, earnings haven’t gone anywhere but oil and bonds are in rally mode.

Investors are trying to figure out where to put their money, as the February rush has faded to the fullest. Heading into today’s session, earnings for the S&P 500 are on track to contract 5.5% in Q1, which would mark the third straight quarter of negative growth. Wall Street seems to still be hoping betting on an earnings recovery in the second half of the year though.

Overall, rebounding oil prices in recent months have given the stock market a lift, but in recent days trading in the black gold has become volatile. The price of a barrel of U.S.-produced crude has been a consistent pendulum in and out of positive territory on a daily basis. Today though, U.S. Crude Oil closed up 2.90% at $44.79 a barrel.

Looking at the following chart, courtesy of ZH, the S&P 500 remains in nosebleed territory and disconnected from US Macro and bond yields. A picture is worth a thousand words:

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