From time to time, EPFR’s clients alert us to anomalous flows into exchange traded funds (ETFs) that occur on a specific day and for a specific fund. Given our awareness of these types of flows, and the granularity of our databases, EPFR’s quant team decided it was high time they dove into our ETF database and conducted a systematic analysis of these events.
The second week of March was dominated by the crumbling fortunes of large US regional banks and European major Credit Suisse. Although this certainly dented investors’ risk appetite, many saw events as an opportunity – especially if major central banks dust off their playbooks from 2008-09 and 2020, opening lines of credit and secured lending facilities and cutting interest rates.
EPFR’s Steve Muzzlewhite uses our Fund Flows and Allocations data for an update on US bond funds and Japan’s equity funds.
Azalea Micottis expands on a recent Nikkei Asia article to deep dive into the latest Vietnam’s equity fund trends using EPFR Fund Flows and Allocations data.
We use EPFR Fund Flows data to analyze investor sentiment following Silicon Valley Bank’s collapse (SVB), and Federal Reserve Jerome Powell’s speech to Congress.
Changing interest rate cycles are often associated with market volatility and dislocation. This time is no different with investors responding erratically to the news that the long-expected phase of rate hiking has begun.
The fate of China’s Evergrande, the second-largest developer in China by sales, could have a knock-on effect on China’s real estate sector and the international markets, in what doomsayers have warned could well be another Lehman moment for financial markets.
It feels like a long time, but it was only three years ago when the VIX index, the benchmark for measuring market volatility, hit an all-time intraday low of 8.56. Although CBOE noted that it was a glitch, and November 27, 2017, ended with the VIX well above 9, it highlighted the degree to which volatility had gone AWOL.