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Financials Overview: What Happened in the Markets August 21–25

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Part 3
Financials Overview: What Happened in the Markets August 21–25 PART 3 OF 3

Why ETF Inflows Continued to Surge

Positive ETF inflows in all asset classes

US ETF inflows continued to surge last week with investors adding $3.9 billion, bringing the year-to-date total to $292.3 billion. All asset classes saw positive flows during the week. US fixed income continued to witness strong inflows with the addition of $831.4 million while US equity (JPM)(BAC) recorded $543.4 million. International equity added $935.5 million.

Why ETF Inflows Continued to Surge

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The SPDR S&P 500 ETF Trust (SPY) had the largest inflows of $2.8 billion, followed by the iShares Russell 2000 ETF (IWM) with $1.3 billion. Volatility products continued to see active inflows with the iPath S&P 599 VIX Short-Term Futures ETN (VXX) and the Velocity Shares Daily Inverse VIX Short-Term ETN (XIV) adding $291 million and $214 million, respectively.

The PowerShares QQQ Trust (QQQ), which garnered the largest inflows last week, saw highest outflows of $1 billion while the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) had outflows of $911 million.

Upcoming events

The second estimate for the second-quarter US GDP growth rate is scheduled for release this week. The earlier estimate showed that the US economy (MS)(GS) expanded at an annualized 2.6% in 2Q17. The week should also see the release of second-quarter GDP data for Canada and India. The inflation rate in Germany and unemployment rate in Japan are also expected this week.

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