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SPDR ETFs reports recovered ETP inflows


SPDR ETFs writes that last week saw ETP flows recover from several weeks of heavy net outflows to attract USD3.66 billion of net inflows. 

Equity had an exceptional week, the firm writes, with USD3,959 million of net inflows, while Fixed Income continued to suffer, enduring USD430 million of net outflows. Money Market had an unusually strong week, gathering USD69 million of net inflows.
Global saw massive net inflows, with USD4,211million pouring into the exposure. Single Country and US exposures saw relatively muted net outflows of USD186 million and USD100 million, respectively. Sector flows were fairly subdued last week, with Consumer Staples and Energy seeing net inflows of just USD26 million and USD25 million, respectively. Financials and Consumer Discretionary saw net outflows of USD74 million and USD49 million, respectively.
SPDR ETF writes that in a reversal from the previous few weeks, investors preferred Corporates over Government exposures last week, adding USD60 million to the former compared to net outflows of USD421 million from the latter.
Most exposures saw net outflows, with Aggregate and Inflation- Protected seeing net outflows of USD52 million and USD17 million, respectively. Credit flows were muted last week, though investors favoured High Yield over Investment Grade exposures, adding USD129mn compared to net outflows of USD92 million. Investors continued to slightly prefer the short to intermediate end of the curve, adding a total USD191million to this area. The longer ends of the curve saw total net outflows of USD403 million. 
Commodity flows softened last week, with Broad Based and Precious Metals seeing net inflows of just USD72 million and USD27 million, respectively. Energy saw further net outflows of USD38 million.
Claire Perryman, Head of UK for SPDR ETFs, says: “Last week’s bullish equity flows suggest a wave of renewed confidence in the market, but investor sentiment remains somewhat fragile.  Although there are positive factors affecting investor sentiment such as the strong current earnings season in the US, there is also slowing economic growth in the EU, and political volatility including President Trump’s decision to pull the US out of the nuclear deal with Iran.” 

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