In today's bull market, the bezzle, or "inventory of undiscovered embezzlements," isn't stocked with Ponzi schemes and the like. Rather it is built on the notion that risky assets have become practically risk-free.
Invesco has brought to NYSE Arca two target-maturity bond exchange-traded funds, expanding its offering of target-maturity products. The Invesco BulletShares 2029 Corporate Bond ETF has a 0.1% expense ratio, while the Invesco BulletShares 2027 High Yield Corporate Bond ETF has a 0.42% expense ratio. ETF (13 Sep.)
Proxy advisory firms and institutions that rely on their recommendations might be forced to change methods in response to guidance from the Securities and Exchange Commission. The Council of Institutional Investors and others are concerned about a part of the guidance that classifies proxy voting advice as solicitation and about requirements that they say could be costly and time-consuming to comply with. Pensions & Investments (free access for SmartBrief readers) (16 Sep.)
The European Central Bank is prepared to push interest rates further into negative territory if necessary to meet its inflation target, Chief Economist Philip Lane says. Financial Times (subscription required) (16 Sep.)
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