Unlike emerging-market mutual funds, ETFs don’t have the option of holding cash, so if they get outflows, they have to sell the underlying bonds in the index they track.
European equity ETF inflows abruptly slowed to less than 1 percent of assets in the wake of ECB head Mario Draghi’s hint at a reduction in stimulus. Buying interest has shifted to emerging-market equities.
In the week just passed the bond market had a modest correction that, unlike it's bearish predecessor, strikes me as being as much about data and the Fed as oversold technicals and sentiment.
A new ETF tracks corporate sponsors for American pro sports, CIBC makes a wealth management move in Chicago, and how millennials use payment app Venmo (it's not just to split the check).