Benjamin Doty, CFA

American Century Investments has brought to Cboe Global Markets two actively managed nontransparent exchange-traded funds that disclose portfolios quarterly, rather than daily. The American Century Focused Dynamic Growth ETF buys shares of early-stage companies with rapid growth, while the American Century Focused Large Cap Value ETF targets high-quality large-cap companies in the Russell 1000 index that are undervalued. ETF Trends (02 Apr.)

The European Central Bank has extended the period for reviewing monetary-policy strategy to mid-2021 because of the coronavirus pandemic. The ECB has also delayed the Forum on Central Banking to Nov. 10 to 12. Global Investor (subscription required) (02 Apr.)

The Federal Reserve's policy of directing liquidity initiatives at investment-grade and government debt risks creating a $9 trillion pool of "orphan" issuers, such as heavily leveraged companies, that do not qualify for relief. The policy could hurt otherwise creditworthy issuers, says Roberto Perli of Cornerstone Macro. MarketWatch (02 Apr.)