• The S&P/ASX 200 ended the week down 2.7% – its worst weekly performance since June – after a higher than anticipated CPI reading dampened expectations on any further RBA rate cuts this year. The S&P 500 declined 0.7% and US 10 year Treasury Yields rose by 11 basis points. In Japan the Nikkei 225 rose by 1.5%. BetaShares Global Banks ETF (BNKS) is the best performing long-equity ETF on both a weekly and monthly basis.
• Iron ore gained 8.9% following further positive economic data out of China. Precious metals also gained with gold and silver up 0.6% and ETFS Physical Platinum (ETPMPT) returning 5.1%. WTI crude declined by 4.2%.
• The Australian dollar jumped above US 77c after the CPI data release before retreating back below US 76c to end the week.
• The Australian ETF market saw total inflows of A$56m into domestically domiciled ETFs for the week. The biggest inflows for the week were into Australian equity ETFs.
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