Latest news with #MarkSpindel
CNA
29-05-2025
- Business
- CNA
Markets shrug off US appeals court's decision to reinstate Trump tariffs
NEW YORK :Wall Street closed higher on Thursday, largely shrugging off a decision by a federal appeals court late Thursday reinstating President Donald Trump's tariffs. This came a day after a trade court blocked most of the U.S. president's tariffs going into effect. The S&P 500 ended up 0.4 per cent higher on the day after the appeals court headline. The dollar, on the other hand, stayed lower against its safe-haven peers such as the yen and Swiss franc as investors braced for more trade uncertainty and volatility. It's "a secondary thing even, though it's capturing the headlines right now. Investors are looking forward. Trump has already rolled back most of these tariffs anyway, so these court rulings are just headlines. Trump probably prepared an appeal before the ruling even came out. As far as I'm concerned, as long as the market doesn't tank on the news, it's just a secondary byproduct." MARK SPINDEL, CHIEF INVESTMENT OFFICER, POTOMAC RIVER CAPITAL LLC, WASHINGTON "I think markets are just going to continue to be caught in this pinball machine of court decisions, executive orders and judicial reviews. This is what happens when you don't follow a more sticky legislative process when developing policy. The result of using executive orders is that you're at the mercy of a court that is ruling on, circumscribing, or endorsing those orders. Markets are caught in the middle of all this, and the result is chaos and uncertainty." TIM GHRISKEY, SENIOR PORTFOLIO STRATEGIST, INGALLS & SNYDER, NEW YORK, NEW YORK "The market has become numb to the tariff issue because the changes occur from multiple parties on a daily basis. Last night the U.S. Court of International Trade ruled the Trump doesn't have authority to implement reciprocal tariffs." "That ruling was appealed and the appeal was successful. Now we're back with Trump having authority. Every day there's new news. The time frames are short and there are a lot of countries currently in trade and tariff negotiations. Markets are waiting for an ultimate resolution, which will likely be somewhat favorable to the U.S. overall but they may not be successful everywhere." "Traders will react to news like this as quickly as they can hoping to gain a little advantage. But fortunes aren't made in the stock market by rapidly trading. They're made by investing in companies ... a daily move is just a drop in the bucket." "As we've seen, courts are ruling in opposite ways so its very, very hard to gain any advantage as a trader. And you have a President who makes totally opposite statements on successive days, either huge tariffs or the removal of tariffs." HELEN GIVEN, DIRECTOR OF TRADING, MONEX USA, WASHINGTON "FX markets have become increasingly headline-weary, and the developments over the last 24 hours are no exception. Traders have adopted an 'I'll believe it when I see it' approach to any announcements regarding tariffs, hence the very muted reaction from the U.S. dollar to the headline that Trump's tariffs are, for now, back on the table." "Importantly, the majority of the levies in question have already been paused and will continue to stay on hold until the early July end of Trump's 90-day pause, so traders are giving this court action until then to reach a conclusion and any reaction to further headlines is likely to continue to be smaller than some of the volatility we've seen since April 2nd, albeit in choppy trading."
Yahoo
25-02-2025
- Business
- Yahoo
F/m Investments Launches Industry First Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL)
ETF Aims to Provide Inflation Protection with Minimal Interest Rate Risk WASHINGTON, February 25, 2025--(BUSINESS WIRE)--F/m Investments ("F/m"), a $16 billion investment firm and innovative provider of exchange-traded funds (ETFs), today announced the launch of the F/m Ultrashort Treasury Inflation-Protected Security ETF (Ticker: RBIL). This passively managed TIPS ETF provides inflation protection while minimizing interest rate risk, providing an inflation-protected alternative for the $7 trillion of cash held today in money markets and more than $18 trillion of bank deposits and other cash equivalents. RBIL is the first ETF to invest exclusively and continuously in ultrashort Treasury Inflation-Protected Securities, defined as TIPS with an average duration well under one year. Other TIPS-based ETFs may carry additional duration that can negatively impact performance in periods of rising inflation. Such inflationary periods are generally associated with rising rates that can have a significant negative impact on longer duration bonds. "As inflation spiked in 2021 and 2022, many investors saw their TIPS ETFs underperform because of their inherent duration," said Alex Morris, F/m CEO. "In fact, any TIPS ETF with meaningful duration – even a so-called 'short duration' ETF – may have more interest rate risk than people realize. RBIL's ultrashort duration is designed to solve that problem." TIPS are issued by the United States Treasury and, just like Treasury Bills and Bonds, are backed by the full faith and credit of the United States. By only holding ultrashort duration TIPS, RBIL offers a low-risk, low-volatility solution for safeguarding investors' purchasing power. Harnessing the efficiency, liquidity and tax advantages of an ETF, RBIL was built for investors seeking to preserve the purchasing power of their cash holdings. "Investors are confronting meaningful inflation risks for the first time in decades," said Mark Spindel, Senior Adviser to F/m Investments. "And for many of those investors, traditional inflation hedges - commodities, real estate, gold - are unsuitable as cash alternatives due to lack of liquidity and unwanted market volatility." RBIL Features and Benefits: Passively managed portfolio of TIPS with 13 months or less to maturity, and average duration well under one year. Ultrashort duration offers stable inflation protection, differentiated from even the shortest-duration TIPS ETF on the market today. RBIL distributes income (representing bond coupons as well as inflation adjustments) through regular dividend distributions, addressing the taxable "phantom income" challenge associated with direct TIPS ownership. F/m Investments, creator of the $6 Billion US Benchmark Series ETFs (which includes the extremely popular TBIL), has earned a reputation for developing innovative solutions to real issues faced by investors and advisors. The launch of RBIL today fits squarely within that mission and marks a continuation of the collaborative partnership between F/m Investments, NASDAQ and lead market maker Jane Street. RBIL is launching on NASDAQ with $50 million in seed capital. About F/m Investments F/m Investments is a $16 billion investment firm providing diversified investment strategies to advisors and institutional investors across asset classes, markets, and styles. For more information, please visit Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 1-800-617-0004 or visit our website at or Read the prospectus or summary prospectus carefully before investing. Investments involve risk. Principal loss is possible. Distributed by Quasar Distributors, LLC View source version on Contacts Media Contact:Tucker SlosburgLyceus Groupfmpr@ (206) 635-4196 Sign in to access your portfolio
