Cowen and Lyxor both present weekly summaries showing that risk reduction remains in force as uncertainty turns into fear and pushes indices below or close to year-to-date lows.
Cowen confirms that last week's close saw the S&P 500 down 6.5% and Eurostoxx 50 falling by 6.2%.
"ETF volumes were mixed. US was again above average as per the previous week whilst those of Europe again were below the norm with -10% on average of their respective six month average flows."
Lyxor reports the weekly on-exchange ETP turnover fell by as much as 9.4% the previous week to €13.6bn. Underlying equity market activity (as measured by the Stoxx Europe 600 Index turnover) fell by 0.28% on the previous week at €129bn.
In terms of market share, iShares nudges into top position with a market share of 24.04% and Lyxor takes close second place with a share of 24%.
The Deutsche Boerse continues its hold on the highest market share on both a five and 20 day basis, with a 20 day share of 31%.
Cowen adds that it was a tough week which saw commodities tumble last Friday on panic liquidations as investors continued to price a global slowdown and possible recession.
"Silver prices crumbled losing 13%, well below the $32.31 support level of May's correction and Gold was dragged by Silver, 4.79% down and more than $40m redemptions on ETF Securities gold ETCs."
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