Weekly Market Monitor – Week Ending 11 November 2022

  • Top performers last week all benefitted from the possibility of a less aggressive US Federal Reserve. Thanks to a lower-than-expected US inflation print, markets reacted by rewarding growth companies – especially in technology (SEMI, CLDD, TECH, HNDQ, RBTZ) – that benefit from low interest rates. Gold, another asset which benefits from low rates, also rose, causing gold mining shares (GDX, MNRS) to rise.
  • Bottom performers prominently featured crypto. Australia’s only two physical crypto ETFs (EBTC, EETH) were hard hit on the collapse of FTX, which triggered forced selling and redemptions of Bitcoin and Ethereum.
  • There were $534 million in reported inflows. iShares dominated these inflows, thanks in larger part to its SMAs rebalancing.
  • There were $162 million in reported outflows, meaning it was another net inflow week for the industry. iShares dominated outflows as well, and for the same reason. Its outflows partly offset its inflows.
  • Trading volumes, much like flows, were dominated by iShares’ SMA rebalances. The Global X Physical GOLD (GOLD) and Global X Ultra Long Nasdaq 100 Hedge Fund (LNAS) rose through the ranks of top-most traded as investors reacted positively to the repricing of duration assets.

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