Markets & the Economy: Animal Spirits Awaken
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A previous six week rebound rally had cleared many technical hurdles, burned lots of investor pessimism as fuel, exploited a ‘free pass’ on economic data and priced in more trade progress. And now?
Add it to the ETF Line Up
New Launches: (week ending 5/23) a few highlights…
- USNG~ Amplify Samsung US Natural Gas Infrastructure ETF
- XRPI~ XRP ETF; 1st ever XRP futures ETF
- IDEF~ iShares Defense Industrials Active ETF; Co’s tied to global security priorities (Top holdings include GE, RTX, PLTR, BA)
New Filings: Xtrackers, First Trust
First ever India Nifty 500 ETF filed (in the US) from Xtrackers; top 500 Co’s traded on the National Stock Exchange of India
Deglobalization ETF filed
- First Trust RBA Deglobalization ETF; Co’s which are inflation beneficiaries and may benefit from increased geopolitical conflict
ETF Check Up: Flow Show
- VOO has now taken in $48b more than any other ETF…a lead like this is unheard of
- IBIT has worked its way into the Top 5 in YTD flows with +$9B, just passing BIL~ this is wild because one month ago it was ranked 47th
GLD hit hard with outflows, over $4b in past 4 weeks, 2nd worst stretch of monthly outflows ever, as 2024 back risk on mood takes over
