A look at the latest developments in exchange traded funds
Based on the Scotia ETF EDGE reports from September 30 to November 1, spanning a five-week period, Canadian ETFs saw an inflow of $10.4 billion. Equity flows edged out fixed income with $5.9 billion while $4.3 billion went to fixed income compared to last month’s position jostling. Cash made a run from the markets as $0.3 billion was withdrawn. Crypto found some renewed bullishness with inflows of $0.27 billion, recovering from last month’s retreat.
The fourth quarter started off with a volatile month for the market, likely spurred by mixed Q3 earnings results. The uncertainly of the U.S. election and its implications on geopolitical outcomes was also a contributing factor. On the commodities side, crude oil prices spiked briefly amid the Mideast conflict that could disrupt global oil supplies. Crypto-tied stocks saw gains as bitcoin jumped to around US$66,000 price levels.
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