Financials Overview: Week of September 11–15, 2017

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Part 3
Financials Overview: Week of September 11–15, 2017 PART 3 OF 3

ETF Inflows Hit a Fresh Annual Record

Higher inflows in US fixed income

The record high in the stock market is associated with higher inflows in the ETFs. The US-listed ETFs witnessed strong inflows last week with the addition of $11.7 billion. It brought the year-to-date total to $319.9 billion and hit a fresh annual record. All of the major asset classes continued to witness positive inflows during the week. US equity (BAC) (MS) (JPM) (GS) added $5.6 billion, while international equity had $2.5 billion. US fixed income had $3.3 billion, while commodities witnessed net additions of $209 million.

ETF Inflows Hit a Fresh Annual Record

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The iShares 20+ Year Treasury Bond ETF (TLT) continued to lead with highest inflows of $1.3 billion. The other fixed income in the top ten ETFs were the iShares 3-7 Year Treasury Bond ETF (IEI) with inflows of $510 million and the Vanguard Intermediate-Term Corporate Bond ETF (VCIT) with inflows worth $380 million. Among the top ten ETFs with the highest inflows, the Vanguard FTSE Emerging Markets ETF (VWO) and the iShares Core MSCI Emerging Markets ETF (IEMG) were the only two emerging market ETFs.

The largest outflow was witnessed in the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) with net redemptions of $689 million, while the iShares Core S&P Mid-Cap ETF (IJH) had outflows of $385 million.

Upcoming events

The Fed is meeting this week. The Fed’s crucial meeting will decide about important matters like whether to hike the interest rate or maintain the status quo, the likely beginning of the balance sheet unwinding, and an update on how economic growth will likely trend.

Japan will release the balance of trade data for August, while the US will report existing home sales data for August. The European Central Bank will hold its non-monetary policy meeting this week. The US will also see the release of building permits, housing starts, and current account balance data.


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