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WBC ETF Market Snapshot: Mon Jul 30

German Finmin Schaeuble shot down reports of ECB bond buying this weekend, taking indexes slightly down to start the week. Central Banks are the theme this week, with ECB and Fed meetings Thursday and Friday.

In that vein, anticipation of rate cuts tomorrow by the Reserve Bank of India moved EPI/PIN up about 1%. EPI saw nearly 2x ADV.

Forecasts of unseasonably warm weather caused a spike in natural gas prices, with UNG up 5.75% . The prospect of further drought sent CORN up 2.25%.

IBB/FBT-Biotech were down 2% on the day, as holdings SLXP -13%/PGNX -50% dragged down index after unfavorable FDA requests.

Outsized blocks of CYB-Chinese Yuan Fund printed in the market, with 25x ADV in what looked to be outflows.

On the desk we saw small outflows from High Yield Corporate Bond ETFs- HYG and JNK, with inflows into less volatile FI like BND-Total Bond Market, BWX-International Treasury Bonds and BSV-Short Term Bonds.

Equities saw domestic inflows and international outflows, with buyers of VTI-Total Stock Market, VTV-Value ETF, DEF-Defensive Equity, and sellers of VEA-EAFE, and VWO-Emerging Markets.

Chris Hempstead

WallachBeth Capital LLC

ETF Trading Desk 646.237.8588

 

 

 

 

 

 

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