Investors buy US ETFs on back of tax bill

Investors piled into ETFs based on the MSCI USA index last week, as US lawmakers passed President Obama's tax bill and as economic bellwether Fedex signalled a more bullish outlook. iShares reported $70m in MSCI USA ETF creations, with over half the orders coming via LSPE. It's also worth noting that we created the Lyxor ETF Russia, which represented a fifth of our total creation volumes. However, we did see investors sell ETFs tracking MSCI Korea, which represented just under 40% of our redemption volume. Corporate bonds ETFs continue their profit-taking season, with iShares re...