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Weekly market wrap May 18, 2018: Rising bond yields weigh on U.S. stocks, while TSX advances on cooler inflation
6/17/2018 11:26:27 PM
HOME : FEATURES : COLUMNS : Weekly market wrap May 18, 2018: Rising bond yields weigh on U.S. stocks, while TSX advances on cooler inflation
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By Fund Library News Wire  | Friday, May 18, 2018


 

By Mike Keerma

Toronto’s benchmark 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%.

FUND NEWS

* 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 14.

* 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.

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

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© 2018 by Fund Library. All rights reserved. Reproduction in whole or in part by any means without prior written permission is prohibited.

The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

 
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