Last week the S&P/ASX 200 rose 2.1% and the S&P 500 rose 3.1%, reaching a new record high. The EURO STOXX 50 gained 6.1% on the back of the ECB’s decision to extend its bond buying programme.
The top performing ETFs for the week were focused on banking stocks, Europe and US small cap stocks. Gold mining ETFs were amongst the worst performers for the week.
US 10 year Treasury yields rose to their highest levels since July 2015 on the expectation of a Fed hike this week.
Silver gained 3.7%, whilst other precious metals declined. WTI crude recovered ground lost earlier in the week to end the week at US$51.50/bbl.
The Australian dollar ended the week up slightly lower at US$0.7449, having given up earlier gains following weaker than expected GDP data on Wednesday. The euro dropped 1% against the US dollar and is now trading close to levels not seen since 2003.
The Australian ETF market saw inflows of A$32m and outflows of A$3m from domestically domiciled ETFs. The biggest inflows were into the iShares S&P/ASX 200 ETF (IOZ).
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