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Evolve Funds launches Canada’s first cloud computing ETF

Evolve Funds has launched the first ETF in Canada to provide pure-play exposure to companies operating in the cloud computing space.
The post Evolve Funds launches Canada’s first cloud computing ETF first appeared on ETF Strategy.

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Evolve Funds has launched the first ETF in Canada to provide pure-play exposure to companies operating in the cloud computing space.

Raj Lala, President and CEO of Evolve ETFs

Raj Lala, President and CEO of Evolve Funds.

The Evolve Cloud Computing Index Fund has listed on the Toronto Stock Exchange in Canadian dollars and is available in CAD-hedged (DATA CN) and unhedged (DATA.B CN) share classes.

Raj Lala, President and CEO at Evolve Funds, said: “The pandemic has increased the need for cloud computing in the midst of work from home mandates, and 2020 rounded out what was already a vastly advancing decade for the sector.

“We all rely heavily on the cloud in both our personal and professional lives, and this demand is reflected in the growth we are seeing in the sector. The launch of DATA marks another Canadian ETF first for investors and helps round out an already impressive disruptive innovation suite from Evolve.”

Methodology

The fund is linked to the Solactive Global Cloud Computing Index which selects its constituents from an initial universe of developed market stocks with market capitalizations greater than $100 million and average daily trading values above $2m.

From this universe, companies that are classified according to the FactSet Revere Business Industry Classification System as operating within various known fields pertaining to cloud computing are eligible for selection. This includes companies active in areas such as systems development, hardware infrastructure, network software, communications services, and data storage.

The 50 largest eligible stocks are selected to form the final index. Constituents are weighted by market capitalization subject to a cap of 7.5% per security. Index rebalancing occurs on a quarterly basis.

As of 8 January 2021, nearly 80% of the index’s exposure was allocated to stocks from the US with the next largest country weights being Canada (7.0%), Germany (6.5%), and Israel (1.8%). Tech stocks account for almost three-quarters (72.5%) of the index weight, while a quarter (25.8%) is dedicated to the communications sector.

The index’s top ten holdings feature several household names including Alphabet (8.7%), Oracle (7.5%), Microsoft (7.4%), Amazon (7.0%), Shopify (6.4%), and salesforce.com (6.1%).

The fund comes with a management fee of 0.60%.

The post Evolve Funds launches Canada’s first cloud computing ETF first appeared on ETF Strategy.

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Government

Bond Market Crash Will Surprise Only The Uninformed

Bond Market Crash Will Surprise Only The Uninformed

By Bloomberg macro commentator and analyst Tommi Utoslahti

A global bond market meltdown is only a matter of time. One fine morning, traders will wake up to find all benchmark yields sharpl

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Bond Market Crash Will Surprise Only The Uninformed

By Bloomberg macro commentator and analyst Tommi Utoslahti

A global bond market meltdown is only a matter of time. One fine morning, traders will wake up to find all benchmark yields sharply higher, 10 to 20 basis points or more, and no buyers around.

Bond price indicators are flashing deep red right now, from decade-high inflation expectations to waning auction demand and whispers of depressed liquidity. Last week, the U.S. 5-year breakeven rate briefly topped 3% for the first time since the maturity was restarted in 2004
Bloomberg’s U.S. Treasury index is on track for its worst annual loss since 2009, and that’s only the beginning. Expect the Treasury 10-year yield to top 2%, Bunds to end their two-year trek in the sub-zero wilderness and Gilts to continue pushing higher toward levels last seen in 2018.

It’s not a taper tantrum. The time for that passed months ago, and the Fed’s well-telegraphed intention to start slowing its $120 billion monthly bond purchases at next week’s meeting is all baked in.

Bonds will collapse on investors’ delayed realization that inflation is here to stay, and won’t be tamed without serious policy tightening.

Equally serious concern stems from the fact that a big part of the recent inflation spike is supply-shock driven. Conventional policy tightening would do little to resolve supply-chain problems, leaving policy makers unable to directly influence rising prices.

If all that sounds unrealistic, or just a mere tail risk scenario, consider this: wagers for Bank of England rate hikes over the next year have been ramped up to more than 100 basis points in only a few weeks. A Hundred basis points! Saying that aloud would have been seen as a joke as recently as early September.

Perma-bulls often point out that yields fell following the 2013 taper tantrum. That is correct, but it only happened after the Treasury 10-year yield had surged about 140 basis points in four months and took well over a year to return to where it was before the selloff. A similar move now from August lows would take Treasuries above 2.5%.

The biggest difference is in the macro backdrop. In 2013, the headline U.S. inflation rate was well below 2% -- it’s been over 5% for five months now. The ISM index of prices paid for inputs is hitting levels not seen for a decade and the inflation expectations of the University of Michigan consumer survey are the highest since 2008.

Everyday consumer items are only about to get more expensive amid stubborn supply-chain disruptions. There’s an energy crunch brewing in many of the developed economies and crude oil appears more likely to hit $100 than fall back toward $50.

Fed Chair Powell on Friday said that “risks are clearly now to longer and more persistent bottlenecks”. Other Fed officials have earlier acknowledged that “transitory” has become a dirty word. And the global financial commentariat is now more often talking about “policy error.”

Treasury yields are now almost exactly where they were just before the 2013 taper tantrum or the 2016 reflation trade following Trump’s election victory. In both cases, yields eventually topped 3%.

Portfolio holders suddenly find themselves bracing for potentially massive losses. Duration hedging will only work to drive bond prices lower. The dollar should benefit from the dual tailwind of higher U.S. yields and haven demand.

Risk assets won’t be able to ignore severe bond market carnage. Earlier this year, when 10-year Treasuries were testing 1.70%, the S&P 500 index retreated about 5% before resuming its rally. Investors shouldn’t count on such a benign reaction this time. Wall Street near records and the VIX at its lowest since the pandemic started show that stocks are hopelessly unprepared for tighter funding conditions.

It’s not all gloom. Previous cycles have shown that the world economy can handle higher borrowing costs. Equities may even see firmer yields as a sign of a strong economy. But there’s no denying recalibration to higher yields after years of ultra-low rates will be a painful exercise for those not ready for it.

Tyler Durden Tue, 10/26/2021 - 09:50

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Government

CDC Director: Unvaccinated Police, Government Workers To Be Sent For “Education And Counseling”

CDC Director: Unvaccinated Police, Government Workers To Be Sent For "Education And Counseling"

Authored by Steve Watson via Summit News,

Appearing on Fox News Sunday, the CDC Director Rochelle Walensky declared that the Biden regime is…

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CDC Director: Unvaccinated Police, Government Workers To Be Sent For "Education And Counseling"

Authored by Steve Watson via Summit News,

Appearing on Fox News Sunday, the CDC Director Rochelle Walensky declared that the Biden regime is planning to provide vaccine hesitant police and other government workers with “education and counseling” to make them “comfortable” about taking the shots.

Walensky told Chris Wallace that “We have seen that these mandates are getting more and more people vaccinated.”

“What we know from the police workforce is there have been more deaths from the coronavirus over the last year and a half than all other causes of death for that workforce combined,” she claimed, adding “So we believe it is very important to get these people vaccinated.”

Then came the kicker.

“There is a plan, should these people not want to be vaccinated, towards education and counseling to get people the information they need so that they are feeling comfortable in getting vaccinated,” Walensky declared.

Watch:

As we have continually noted, police and firefighters all over the U.S. have formed resistance groups against the vaccine mandates, and many officers have made videos of themselves signing off after being forced to resign.

Washington State trooper Robert LaMay, who infamously signed off after 22 years in the job by telling Democrat Governor Jay Inslee to “kiss my ass”, has warned that the Biden administration has “awoke the sleeping giant,” and that “extreme” numbers of police are walking off the job.

Watch:

Former Cincinnati and Detroit police chief James Craig told Tucker Carlson last week that “This is all by design. It’s not by accident,” further declaring that Democrats forcing good cops out of their jobs is a continuation of the “utterly ridiculous defund the police” agenda.

Watch:

Watch the latest video at foxnews.com

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Tyler Durden Tue, 10/26/2021 - 09:15

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Spread & Containment

Carbon nanotube-based sensor can detect SARS-CoV-2 proteins

CAMBRIDGE, MA — Using specialized carbon nanotubes, MIT engineers have designed a novel sensor that can detect SARS-CoV-2 without any antibodies, giving a result within minutes. Their new sensor is based on technology that can quickly generate rapid…

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CAMBRIDGE, MA — Using specialized carbon nanotubes, MIT engineers have designed a novel sensor that can detect SARS-CoV-2 without any antibodies, giving a result within minutes. Their new sensor is based on technology that can quickly generate rapid and accurate diagnostics, not just for Covid-19 but for future pandemics, the researchers say.

Credit: MIT

CAMBRIDGE, MA — Using specialized carbon nanotubes, MIT engineers have designed a novel sensor that can detect SARS-CoV-2 without any antibodies, giving a result within minutes. Their new sensor is based on technology that can quickly generate rapid and accurate diagnostics, not just for Covid-19 but for future pandemics, the researchers say.

“A rapid test means that you can open up travel much earlier in a future pandemic. You can screen people getting off of an airplane and determine whether they should quarantine or not. You could similarly screen people entering their workplace and so forth,” says Michael Strano, the Carbon P. Dubbs Professor of Chemical Engineering at MIT and the senior author of the study. “We do not yet have technology that can develop and deploy such sensors fast enough to prevent economic loss.”

The diagnostic is based on carbon nanotube sensor technology that Strano’s lab has previously developed. Once the researchers began working on a Covid-19 sensor, it took them just 10 days to identify a modified carbon nanotube capable of selectively detecting the viral proteins they were looking for, and then test it and incorporate it into a working prototype. This approach also eliminates the need for antibodies or other reagents that are time-consuming to generate, purify, and make widely available.

MIT postdoc Sooyeon Cho and graduate student Xiaojia Jin are the lead authors of the paper, which appears today in Analytical Chemistry. Other authors include MIT graduate students Sungyun Yang and Jianqiao Cui, and postdoc Xun Gong.

Molecular recognition

Several years ago, Strano’s lab developed a novel approach to designing sensors for a variety of molecules. Their technique relies on carbon nanotubes — hollow, nanometer-thick cylinders made of carbon that naturally fluoresce when exposed to laser light. They have shown that by wrapping such tubes in different polymers, they can create sensors that respond to specific target molecules by chemically recognizing them.

Their approach, known as Corona Phase Molecular Recognition (CoPhMoRe), takes advantage of a phenomenon that occurs when certain types of polymers bind to a nanoparticle. Known as amphiphilic polymers, these molecules have hydrophobic regions that latch onto the tubes like anchors and hydrophilic regions that form a series of loops extending away from the tubes.

Those loops form a layer called a corona surrounding the nanotube. Depending on the arrangement of the loops, different types of target molecules can wedge into the spaces between the loops, and this binding of the target alters the intensity or peak wavelength of fluorescence produced by the carbon nanotube.

Earlier this year, Strano and InnoTech Precision Medicine, a Boston-based diagnostics developer, received a National Institutes of Health grant to create a CoPhMoRe sensor for SARS-CoV-2 proteins. Researchers in Strano’s lab had already developed strategies that allow them to predict which amphiphilic polymers will interact best with a particular target molecule, so they were able to quickly generate a set of 11 strong candidates for SARS-CoV-2.

Within about 10 days of starting the project, the researchers had identified accurate sensors for both the nucleocapsid and the spike protein of the SARS-CoV-2 virus. During that time, they also were able to incorporate the sensors into a prototype device with a fiber optic tip that can detect fluorescence changes of the biofluid sample in real time. This eliminates the need to send the sample to a lab, which is required for the gold-standard PCR diagnostic test for Covid-19.

This device produces a result within about five minutes, and can detect concentrations as low as 2.4 picograms of viral protein per milliliter of sample. In more recent experiments done after this paper was submitted, the researchers have achieved a limit of detection lower than the rapid tests that are now commercially available.

The researchers also showed that the device could detect the SARS-CoV-2 nucleocapsid protein (but not the spike protein) when it was dissolved in saliva. Detecting viral proteins in saliva is usually difficult because saliva contains sticky carbohydrate and digestive enzyme molecules that interfere with protein detection, which is why most Covid-19 diagnostics require nasal swabs.

“This sensor shows the highest range of limit of detection, response time, and saliva compatibility even without any antibody and receptor design,” Cho says. “It is a unique feature of this type of molecular recognition scheme that rapid design and testing is possible, unhindered by the development time and supply chain requirements of a conventional antibody or enzymatic receptor.”

Quick response

The speed with which the researchers were able to develop a working prototype suggests that this approach could prove useful for developing diagnostics more quickly during future pandemics, Strano says.

“We’re able to go from someone handing us viral markers to a working fiber optic sensor in an extremely short amount of time,” he says.

Sensors that rely on antibodies to detect viral proteins, which form the basis of many of the rapid Covid-19 tests now available, take much longer to develop because the process of designing the right protein antibody is so time-consuming.

The researchers have filed for a patent on the technology in hopes that it could be commercialized for use as a Covid-19 diagnostic. Strano also hopes to further develop the technology so that it could be deployed quickly in response to future pandemics.

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The research was funded by a National Institutes of Health Rapid Acceleration of Diagnostics (RADx) grant.


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