Strong non-farm employment required to maintain any rate hike hopes Non-farm employment changes are one of the most important indicators the US Fed considers in deciding on monetary policy. May…
Although the core PCE data release is positive, it isn’t expected to have an impact on the Fed due to uncertainties in the Market after the Brexit vote.
The U.S. Bureau of Economic Analysis published the final 1Q16 GDP figures on June 28, 2016. The GDP rose by 1.1%—above the forecast of 1.0%.
The PMI for June came in at 51.3, which was unchanged from the previous month and below the forecast of 52.0. The report indicated subdued growth in the service sector with job creation stooping to a one-and-a-half-year low.
US Treasury yields tumbled to new lows post-Brexit as market participants bought into the relative safety of US Treasury bonds.
As we discussed in parts 1 and 2 of this series, the magnitude of Friday’s cross-asset moves was remarkable.
The post-Brexit cross-asset volatility we saw on Friday is very likely to persist.
On Thursday, US equities had been flying higher all week as Brexit polls suggested the Remain camp had a slight edge. But…
With Brexit out of the way, the focus will shift to domestic data releases. This week will see the release of US final GDP and US consumer confidence.
Major Asian currencies had a mixed performance against the US dollar on June 21, 2016.
Looking at last week’s country ETF flows, the Vanguard FTSE Emerging Markets ETF topped the inflow list with ~$300 million of cash trickling into the fund.
Equity market volatility and cross-asset volatility as a whole are picking up. Gold, the traditional safe-haven investment, is becoming fashionable again.
During last week’s volatile trading session, investors pulled money out of all but two US GICS Sector ETFs. All of the sectors closed in negative territory.
Despite another rough week for US equities, investors didn’t throw in the towel. Instead, they started buying into broad market US equity index ETFs.
The popular focus on emerging market equities in the present yield-oriented environment was a major topic during the last trading week.
The Financial Select Sector SPDR Fund (XLF) was hit the hardest during the last trading week. It lost almost 1.5%.
Investors seem undecided about US equities’ future direction. This was reflected in last week’s “roller coaster market” in the U.S. Equity Index ETF’s performance.
After a big miss in the NFP headline number and downward revisions to the prior month on June 3, we’ve seen a reversal in US index-based ETF flows.
US GICS (global industry classification standard) sector ETF flows reflected event-specific positioning during the trading week ending June 3, 2016.
Among the top ten ETF inflows and outflows on June 3, we can see a “risk-off” fund flow picture that goes hand in hand with the NFP miss that day.