The worst performing non-leveraged exchange traded products over the past month include the iPath Pure Beta Energy ETN (NYSEArca: ONG) is down 9.9%, iPath Pure Beta Crude Oil ETN (NYSEArca: OLEM) is down 9.8% and Barclays Inverse U.S. Treasury Aggregate ETN (NYSEArca: TAPR) is down 9.3%.
Extending the July sell-off, the equities market continued to decline at the start of August. reports of possible Russian action across the Ukrainian border raised volatility and kept selling pressure on the markets. Moreover, Russia’s counter-sanctions against Western countries also added to further risk aversion in the markets.
However, the broader markets began to pick up mid-August as bargain hunters stepped back in, capitalizing off the recent sell-off.
Adding to further gains in the equities market, positive economic data helped keep momentum going. Diminishing concerns of a Russian incursion into Ukraine and assurance that the U.S. administration won’t send troops into the Middle East also bolster stocks.
The situation in Ukraine remains tentative as violence and military posturing escalates. Nevertheless, the equities market shakes off the tensions, with investors turning more risk positive.
In the last week of August, equities rallied, with the U.S. markets touching new all-time highs on positive economic data, including rising home sales and an improved jobs market, despite news that Russia has technically invaded Ukrainian territory.
The markets closed out August on tepid trading heading into the Labor Day weekend.
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Max Chen contributed to this article.