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Wall Street is launching new ETFs with varying exposure to major tech stocks, following a recent downturn that raised concerns about high valuations. BlackRock is introducing the iShares Nasdaq Top 30 Stocks ETF (QTOP) and the iShares Top 20 US Stocks ETF (TOPT), which will track the largest companies in the Nasdaq 100 and S&P 500 indices, respectively.
Jean Boivin of BlackRock warns that markets are underestimating the risk of a contested outcome in the upcoming US presidential election. He anticipates that a disputed victory could trigger prolonged legal battles, potentially destabilizing asset prices. Meanwhile, Treasuries are experiencing a significant selloff, with benchmark yields rising over 40 basis points this month, while stock markets remain near record highs.
Major ETF providers, including BlackRock and Amundi, are competing for a share of the anticipated $5 billion to $10 billion inflow into Indian bonds, following JPMorgan's decision to increase India's weighting in its emerging-markets bond index from 4% to 10% by March. Amundi's global head of ETF, Benoit Sorel, emphasized India's growing significance in emerging-market debt, noting that professional investors are increasingly interested in allocating to this market.
Major ETF providers, including BlackRock and Amundi, are competing for a share of the anticipated $5 billion to $10 billion influx into Indian bonds, following JPMorgan's inclusion of Indian debt in its emerging-market index. This move is expected to significantly boost investment in the sector.
Ethereum co-founder Vitalik Buterin criticized MicroStrategy's Michael Saylor for suggesting that Bitcoin holders should use large banks for custody, calling the idea "batshit insane." Buterin argued that this approach risks regulatory capture and undermines the principles of self-custody, which are essential for the integrity of the crypto network. The backlash against Saylor's comments has intensified, with other crypto advocates emphasizing the importance of individual custody to prevent centralization and corruption.
Investors are increasingly favoring emerging market funds that exclude China, driven by concerns over geopolitical tensions and the perceived risks associated with the Chinese economy. This shift has led to a surge in "ex China" funds, which have attracted $10bn in net inflows this year, as clients seek greater exposure to markets like India and Taiwan. Political motivations, particularly among US investors, are influencing this trend, with some pension funds divesting from Chinese assets due to national security concerns.
The Finance Minister met with Citibank CEO Jane Fraser to discuss advancements in India's banking system, highlighting the government's efforts to enhance the ease of doing business. Additionally, discussions with BlackRock CEO Laurence Fink focused on global investment opportunities through the NIIF and IFSC GiftCity, as well as financing for GreenTech and battery storage initiatives. Fink also mentioned BlackRock's collaboration with private partners in India to boost infrastructure development.
Saudi Arabia has engaged BlackRock to assist in establishing a market for mortgage-backed securities, aiming to enhance housing affordability. The initiative is expected to enable banks to offer lower interest rates to borrowers, thereby improving home ownership costs, according to BlackRock's CEO Larry Fink.
BlackRock has launched two new exchange-traded funds (ETFs) to provide investors with exposure to the rapidly growing artificial intelligence market. The asset management giant views AI as a significant investment theme with long-term implications across various industries. With over 1,400 ETFs and $4.2 trillion in assets under management, BlackRock aims to capitalize on the increasing popularity of thematic investing.
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