The etf industry, big numbers are par for the course. Our analyst Eric Balchunas is used to big numbers. Eric this is no exception. This is the end of the year, the last show, so normally go over weekly. You today numbers are big. 324 billion. That is the second biggest year of etf flows ever. 7 organic growth. Lets look at the top leaderboard of the year. Bti broad market. 31 , that is the best return for the s p since 1997, even though it did not feel like that. Usmv was a shocker. Interesting for smart data. By one basisee point, enough to win this internal the battle. That is the hangover from 2018 and rates falling. Take a look at the Asset Classes. January to october, equities not that big. 40 of their flows in the past two months. Fixed income, look at that drop off. Gold as well. Look at their growth this year. A little below average but 18 look at their growth this year. Fixed, way above last year. Lets look at the leaderboard in terms of the issuers who won and lost. For the
Services and luxury retail. Love them or hate them, etfs are here to stay, and etf nerds get a read on the Broader Market trends. Eric balchunas is very comfortable being known as bloombergs head etf nerd. Eric every week we talk about flows going into etfs. And we talk about flows into active. If you add them together you get a negative number, 150 to 180 billion has flown out of the whole enchilada this year. Thats what this shows, the cumulative flows into u. S. Stock funds have been drifting down, and this year it has been 150 billion. That seems counterintuitive given the market is going up. People are wondering, are investors bailing on the stock market . The answer is no, heres why, lets look at the assets. This is the law of large numbers. 10 trillion are in ets, index funds that mutually invest in stocks. The market is up 25 thats a 2. 5 trillion asset gain. Thats a good year. Heres the outflow. 150 billion is put into scale by looking at this. Essentially investors have sold
Mixed bag. The dax is down almost 0. 5 . The carmakers dragging on the dax. The ftse 100 is a different story, up 0. 3 . Some individual Companies Making gains. The british pounds giving back more of the gains of the week, 1. 3075. Pearson up after giving up the Penguin Random house it owns. Lets get to more with luke kawa, Bloomberg Cross asset reporter. It seems like this market is more and more moving on individual Company Names and less on a trade resolution or British Election resolution. Luke definitely. Weve taken a step back from the macro. That we are not really looking ahead to anything. We are just kind of in stall right now, waiting for the rest of the year to play out. Yesterday we tied for the smallest range in s p 500 futures of the year. We are getting a sense that last week was all of the big risk, and no we are winding down. Can year yield climbing higher could be the story of the year as we close it out for one more macro perspective. Vonnie we only have a few more s
Overshadowed by allegations of sexual assault. The Prime Minister denies those allegations. The u. S. Ways place down turnt, but asian stocks lower. The king of ipos, ab invevs Budweiser Brewing unit surges on its first day of trading in hong kong. Breaking the trend of lackluster debuts party debuts. We are 30 minutes from the start of european trading. Take a look first off at the treasuries trade in my terminal. This is a threeday chart. A big spike as investors are selling the debt. The question is, what does that mean . Are we looking at more of a risk on session now . If you look at futures, there is still a very mixed picture in terms of what we see happening in german futures. They are up a little bit. Dax futures are down a little bit. Really not a lot of indication as to the direction we are going to see. Up for moreing Political Action today as the conservative conference. Anna absolutely. Let us remember this has been an event that has moved markets. We have Seen Movement i
Good afternoon from asia. Im Francine Lacqua in london. Stoxx 600 down. We are expecting more choppy trading on the back of the testimony this week from jay powell. Prospects after we had conflicting signals from the world economy. 1. 12. Ollar coming up, paul the fx calls all the fx calls with david bloom. Tensions between japan and south korea are threatening to wallop much now depends on whether shinzo abe and moon jaein can work out a compromise. A cycle of measures and countermeasures would not be ideal for both countries but if south Korean Companies begin experiencing actual damage, the government would have no choice but to respond as necessary. I hope it does not come to that and we urge japan to withdraw its measures. Greece primenew minister has a new finance minister. One of the first tasks will be to renegotiate. Epstein being held at a Correctional Center in new york as he awaits a bail hearing on charges of sex trafficking and conspiracy. The charges include sex acts 14,