WallachBeth ETF Market Update July 24

Continued weakness persisted in European country ETFs, with EWP down -4.5%, and EWI down -4%.  SOYB, the Teucrium Soybean Fund, was among the day’s biggest losers, down -3.8%, giving back much of the gains that it had seen in the past week.

Commodity names also showed weakness, with KOL-Coal, FCG-Natural Gas, and XME- Metals and Mining all down on the day.  VIX ETF’s continued to benefit from the market selloff, with VXX leading the way, up 4.15%.  We saw large block trades continue to print in JNK.

On the desk we continued to see two way flows in international ETFs, with buyers of Malaysia- EWM, EAFE- EFA, and sellers of Indonesia- IDX, Mexico- EWW, and Market Vectors Agribusiness- MOO.

In domestic names we saw late day sellers of QQQ.  Two way flow in corporate bond ETFs as well, with buyers of CORP- Investment Grade Corporate Bonds, and sellers of HYS-0-5 Year High Yield Corporate Bonds.

 

 

 

 

Chris Hempstead

WallachBeth Capital

 

 

 

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