917 resultados para United States. Commodity Futures Trading Commission


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Nos últimos anos, a participação dos especuladores (hedge funds, fundos indexados a commodities e outros agentes financeiros) no mercado de derivativos de commodities aumentou. Este trabalho avalia se a posição destes não-hedgers apresenta uma relação de precedência temporal (no sentido de Granger-causa) com os retornos dos preços futuros das principais commodities agrícolas exportadas pelo Brasil (açúcar, café, soja, milho e algodão). Com base nos dados disponibilizados pelo relatório Supplemental COT (Commitments of Traders) e pelo relatório DCOT (Disaggregated Commitments of Traders Report), divulgados pela CFTC (U.S.Commodity Futures Trading Commission), foi aplicado o teste de causalidade de Granger para essas commodities. Com os resultados observados, não se pode concluir a existência de relação de precedência temporal entre a posição dos especuladores e os retornos dos preços futuros das respectivas commodities.

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This study employs a pairs trading investment strategy on daily commodity futures returns. The study reveals that pairs trading in similarly related commodity futures earns statistically significant excess returns with commensurate volatility. The excess returns from pairs trading in commodity futures are unrelated to conventional market risk factors and they are not associated with classic contrarian investing. The evidence of pairs trading reflect compensation to arbitrageurs for enforcing the law of one price in similarly related market efficiency.

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Based on unique news data relating to gold and crude oil, we investigate how news volume and sentiment, shocks in trading activity, market depth and trader positions unrelated to information flow covary with realized volatility. Positive shocks to the rate of news arrival, and negative shocks to news sentiment exhibit the largest effects. After controlling for the level of news flow and cross-correlations, net trader positions play only a minor role. These findings are at odds with those of [Wang (2002a). The Journal of Futures Markets, 22, 427–450; Wang (2002b). The Financial Review, 37, 295–316], but are consistent with the previous literature which doesn't find a strong link between volatility and trader positions.

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The biography of Charles Bradford Hudson that follows this preface had its seeds about 1965 when I (VGS) was casually examining the extensive files of original illustrations of fishes stored in the Division of Fishes, National Museum of Natural History, Smithsonian Institution. I happened upon the unpublished illustration of a rainbow trout by Hudson and was greatly impressed with its quality. The thought occurred to me then that the artist must have gone on to do more than just illustrate fishes. During the next 20 years I occasionally pawed through those files, which contained the work of numerous artists, who had worked from 1838 to the present. In 1985, I happened to discuss the files with my supervisor, who urged me to produce a museum exhibit of original fish illustrations. This I did, selecting 200 of the illustrations representing 21 artists, including, of course, Hudson. As part of the text for the exhibit, Drawn from the Sea, Art in the Service of Ichthyology, I prepared short biographies of each of the artists. The exhibit, with an available poster, was shown in the Museum for six months, and a reduced version was exhibited in U.S. and Canadian museums during the next 3 years.

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There has been considerable interest in recent years in comparing the operation of social work services to children and families internationally, particularly between Australia, the United Kingdom and the United States. Reviewing the respective policy environments and drawing on recent research experience in these three nations the author speculates as to how such services may be placed to respond to a converging agenda to tackle the high social and economic costs of social exclusion. It is argued that a conspiracy of circumstances have led child and family social work away from its more general child welfare objectives of the past and created consolidation of functions in relation to child protection work. This has left services ill prepared to play a central role within a new and resurgent child welfare agenda.

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On 21 July 2011 the Inter-American Commission on Human Rights issued its much awaited decision in the case of Jessica Lenahan (Gonzales) v United States. In a landmark decision the Commission found the United States of America to be in violation of the American Declaration of the Rights and Duties of Man 1948 due to the failure of the state to protect a victim of domestic violence and her children. This paper analyses the Lenahan decision and its significance for the United States. In particular, the substantial influence of the case law of the European Court of Human Rights on the Commission’s reasoning is examined.

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Référence bibliographique : Rol, 58592

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Foreword by Alicia Bárcena

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Includes bibliography