Markets saw risk off flows today, with GDXJ-Gold Miners Juniors up 4% and GDX-Gold Miners up 3%, among the biggest gainers on the day.
Semiconductor ETFs SMH, XSD, and SOXX also saw inflows as a result of strong earnings reports from top holdings. ITB-Home Construction down 3.6%, among the biggest losers on the day after poor New Home sales numbers this morning.
Larger than usual volume in TIPS funds, in particular BIL and TIP, in line with the other risk off flows we’ve seen today.
On the desk we had sellers of risk assets, such as SPY-S&P 500, DEM-High Yield Equity, and VB-Small Cap, with inflows into 7-10 year Treasuries, IEF.
We also saw sellers of EWU-England, on the heels of the weak GDP print this morning. Emerging Market names saw buyers, notably EPI-India, ERUS-Russia, EWT-Taiwan, MCHI-China, and ASEA.
Lastly we saw flows into Preferreds pick up again, with a buyer of PGF- Financial Preferred Portfolio.
Eric Mustin filling in for Chris Hempstead
WallachBeth ETF Desk 646.237.8588