In other developments, investors dipped their toes into emerging market equities, which posted the first month of inflows (at $515 million) since January, and continued their stampede out of gold. Backed by “Abenomics,” Japan ETP flows remained strong, with another $2.0 billion collected in July, bringing year-to-date flows to $28.0 billion.
With the S&P 500 recently topping 1,700 for the first time ever, we will see what August brings. What July showed was the resilience of ETPs after June’s pullback.
Dodd Kittsley, CFA, is the Head of Global ETP Market Trends Research for BlackRock.