News Stocks 

Tobacco Stocks Weigh On Consumer Staples ETFs

“Other funds with a heavy emphasis on tobacco stocks include the Vanguard Consumer Staples ETF (VDC) and Fidelity MSCI Consumer Staples Index ETF (FSTA)” writes David Fabian for nasdaq.com. Tobacco stocks have been one of the most successful investment archetypes of the last twenty years despite their negative societal connotations.In terms of market narratives, it may be difficult for investors to reconcile the return of volatility this year with the relative underperformance of consumer staples stocks.This setback has also triggered ripple effects through the community of index funds that own…

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Crypto News 

Both the Heartland and the West Coast saw a decrease in new VC funds in 2017

“Investors on the West Coast closed 122 new venture capital funds in 2017, compared to 70 on the East Coast and 30 new venture capital funds in the BTC region” writes Anna Hensel for venturebeat.com. Additionally, the number of new venture capital funds raised in all parts of the U.S. fell slightly from 2016 numbers.Meanwhile, the amount of venture capital raised by new BTC funds remains relatively flat, with $0.9 billion raised by new funds in 2017.These new venture capital funds are mostly investing in startups within their region —…

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News 

Mike Rounds doesn’t want to kill the Iran nuclear deal: How does the US benefit from leaving now?

“Mike Rounds, R-S.D., Monday agreed with French President Emmanuel Macron that it would be a mistake for the U.S. to leave the Iran nuclear deal without a feasible alternative in place” writes Andrew Harnik for washingtonexaminer.com. The president is absolutely correct, it was a bad deal, but it’s a deal that’s been made and we’ve delivered a lot of resources to them already,” he continued.”This was not a good deal in the first place. Source: washingtonexaminer.com Share This:

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News 

Around 40 Chinese mutual funds have adjusted the valuation of ZTE in their portfolios, some by 20-30%, since it suspended trading following US trade sanctions

“Around 40 Chinese mutual funds have adjusted the valuation of ZTE in their portfolios since it suspended trading” writes Samuel Shen for reuters.com. Huatai-PineBridege and GTJA Allianz cut their valuation of ZTE’s mainland shares to 25.05 yuan, 20 percent lower than its last trading price.Several funds with exposure to ZTE’s Hong Kong shares, including HuaAn Fund and Harvest Fund, cut valuations to about 20 percent below the last trading price of HK$25.60 ($3.26). Source: reuters.com Share This:

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News 

China fund managers slash ZTE valuation after U.S. sanction

“Around 40 Chinese mutual funds have adjusted the valuation of ZTE in their portfolios since it suspended trading” reports businessinsider.com. Huatai-PineBridege and GTJA Allianz cut their valuation of ZTE’s mainland shares to 25.05 yuan, 20 percent lower than its last trading price.Several funds with exposure to ZTE’s Hong Kong shares, including HuaAn Fund and Harvest Fund, cut valuations to about 20 percent below the last trading price of HK$25.60 ($3.26). “Investors are asking: who will be next on the U.S. sanction list?” fund manager Li said. Source: businessinsider.com Share This:

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News 

South Korea will consider injecting funds into GM Korea for investment: Yonhap

“SEOUL (Reuters) – South Korea’s government will consider injecting fresh funds into the loss-making South Korean unit of General Motors Co , the Yonhap news agency reported on Saturday, citing the finance minister” writes Midwest Communications Inc for 95kqds.com. The minister, Kim Dong-yeon, told reporters in Washington on the sidelines of a G20 finance ministers and central bank governors meeting, any injection of fresh public funds would not be aimed at repaying debt incurred by the carmaker. “We can consider injecting new money if it’s about fresh, rationale investment instead,”…

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News 

Hedge Fund Titans Pull Money From Funds to Pay Massive Tax Bills

“A few hedge fund billionaires have been able to replace money they took out of their funds” writes unknown author for bloomberg.com. Paulson recently closed some smaller funds at his firm, and pulled money from his Credit Opportunities Fund to pay the bill.To make the payments, they had to pull some of their own money from their funds.Clients aren’t exactly lining up — a net $9.8 billion came into hedge funds in 2017, a sliver of the $3.2 trillion in total industry assets — as many firms have faced multiple…

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News 

Judge rules HHS broke law in cutting off teen pregnancy funds

“A federal judge has ruled that the Trump administration broke the law when it cut off grants to programs that aim to prevent teen pregnancy” writes Alex Brandon Ap for washingtonexaminer.com. The administration said it did not find the programs, created under the Obama administration, to be effective, and has advocated for programs that promote abstinence.”The court’s decision today is a rebuke of the Trump administration’s effort to kill a program that is working effectively to lower teen pregnancy rates,” said Sean Sherman, a lawyer at Public Citizen Litigation Group,…

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News Regulators 

Dudley says there’s still some distance to go before Fed rate policy is tight

“New York Fed President William Dudley said Wednesday there “is still some distance to go” before monetary policy gets tight” writes D C for marketwatch.com. He said he viewed the neutral real interest rate to be around 1%, which implies that the federal funds rate would need to rise to around 3% for monetary policy to be considered neutral.The Federal Reserve in March lifted its federal funds rate target to between 1.5% and 1.75%.Dudley, who plans to retire this year, said a gradual path of interest rate increases remains appropriate. Source:…

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