Last week’s exchange traded funds flows data were marked by several prominent themes. Starting with the glum side of the ledger, amid ongoing fears that an interest rate hike from the Federal Reserve is forthcoming, investors departed emerging markets and junk bond ETFs in droves.
Investors are dumping emerging market stock exchange traded funds, with global investors redeeming the most from developing stock markets since the financial crisis.
In more positive news, those same rate hike fears are stoking inflows to financial services funds as the Financial Select Sector SPDR (NYSEArca: XLF) was the second-best asset-gathering ETF last week.
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