Weekly Market Monitor – Week Ending 30 June 2023

  • It was a strong week for global equities as tech and risk-on ETFs (CRYP, DRIV, GGUS, TECH) performed well. US financial companies successfully passed the Federal Reserve’s annual stress test, while electric vehicle manufacturers, Tesla and Rivian, reported record quarterly sales and production respectively – helping buoy the market’s mood.
  • Short equity funds (BBOZ, BBUS, BEAR, SNAS) performed poorly as markets enjoyed a week of smooth sailing. Non-leveraged ETFs fell no more than 2.6% in a rare period of lower volatility.
  • There were $335.6 million in reported industry inflows last week. Bond ETFs (BNDS, QPON, GBND) continued to take the spotlight as investors await the RBA decision this week.
  • There were only $186 million in reported outflows last week, marking yet another week of net positive flows for the Australian ETF industry.
  • Broad-base index tracking funds (A200, IOZ, STW, VAS) dominated the top trading volumes as usual.

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