Financials Overview: Week of October 2–6, 2017

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Part 3
Financials Overview: Week of October 2–6, 2017 PART 3 OF 3

What Are the Highest ETF Inflows since June?

US equity added largest inflows

Buoyed by hopes of passing the tax reform program, the stock markets continued to make record highs. After a breather last week, ETF inflows bounced back to a level that hasn’t been seen since June. Around $12 billion worth of inflows were added in ETFs last week, which took the year-to-date total to $344.5 billion. The total ETF assets stand at ~$3.2 trillion. US equity pulled in the highest inflows of $5.8 billion, while international equity followed with inflows of $3.6 billion.

What Are the Highest ETF Inflows since June?

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US fixed income continued to collect a substantial amount of new money despite the fall in bond prices. It added $2.7 billion, while international fixed income had $740 million. Commodity ETFs was the only major segment that saw outflows during the week with net redemptions of $268 million.

The top equity ETFs included the iShares Core MSCI EAFE ETF (IEFA), the Industrial Select Sector SPDR Fund (XLI), and the Vanguard FTSE Developed Markets ETF (VEA) with inflows of $1.2 billion, $1.1 billion, and $911 million, respectively.

Inflows in the fixed income ETFs were led by the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) with respective additions of $713 million and $573 million.

The largest outflow was witnessed in the SPDR S&P 500 ETF Trust (SPY) (SPX-INDEX) with net redemptions of $716 million followed by the iShares 20+ Year Treasury Bond ETF (TLT) with outflows of $635 million.

Upcoming events

The US will see the FOMC’s minutes this week. Germany and the United Kingdom will release the balance of trade data for August. Australia will announce business confidence data for September and the consumer confidence index data for October.

Citigroup (C) and J.P. Morgan (JPM) will report their 3Q17 earnings on Thursday, while Wells Fargo (WFC), Bank of America (BAC), and PNC Financial (PNC) will unveil their earnings on Friday. Investment major BlackRock (BLK) will also release its earnings on Wednesday.


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