By Mike Keerma
S&P/TSX Composite Index gained 1.1% on the week, as
crude oil advanced 1.2%, buoying the energy sector, while April’s inflation rate grew
at an annual 2.2%, down slightly from March, easing concerns that the Bank
of Canada might raise rates later this month. The main U.S. stock gauges
edged back slightly on the week, as trade negotiations between U.S. and
China remain murky, and bond yields rose, with the benchmark 10-year U.S.
Treasury note crossing the 3% barrier to end the week at 3.067% on
continuing concerns that accelerating economic growth and rising inflation
will lead to more rate hikes from the Federal Reserve Board. The
S&P 500 Composite Index posted a 0.5% weekly loss, while the
Nasdaq Composite Index was off 0.7%.
* RBC’s U.S. bank ETF starts trading.
RBC Global Asset Management Inc.
announced the launch of its
RBC U.S. Banks Yield Index ETF (TSX: RUBY), which began trading on the Toronto Stock Exchange on May 15. The ETF
tracks the Solactive U.S. Banks Yield Index of 21 of the largest U.S.
dividend-paying bank stocks, as measured by market capitalization and
weighted based on their annual dividend yields. The management fee is
0.29%. The ETF is also available in USD and CAD hedged options
* Franklin Templeton’s three new fixed-income ETFs commence trading.
Franklin Templeton Investments Canada announced that its actively-managed ETFs began trading on the TSX on May
Franklin Liberty Global Aggregate Bond ETF (CAD-Hedged) (TSX: FLGA) invests primarily in investment grade fixed or floating-rate debt
securities issued by governments, government related entities.
Franklin Liberty Senior Loan ETF (CAD-Hedged) (TSX: FLSL) holds senior secured income-producing floating rate corporate loans made
to, and corporate debt securities issued by, U.S. and non-U.S. entities.
Franklin Liberty U.S. Investment Grade Corporate ETF (CAD-Hedged)
(TSX: FLUI) invests in U.S. dollar-denominated investment-grade corporate debt
securities issued by U.S. and non-U.S. entities.
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