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 w...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
