Based on the Scotia ETF EDGE reports from April 1 to April 26, Canadian ETFs saw an inflow of $5.9 billion, a $0.9 billion increase from the previous month. The bulk of the inflows in April came from equity with nearly $4.6 billion in net creation during those four weeks while fixed income accounted for $2.1 billion and mixed allocation for $0.34 billion. Cash saw redemptions of $1.0 billion.
The Fed kept its target interest rate unchanged during April for the ninth straight month, acknowledging a lack of further progress on cooling inflation. Chair Jerome Powell confirmed the Fed is not going to cut interest rates as soon as it previously signaled, stating “it is likely that gaining greater confidence will take longer than previously expected.”
April also marked the start of earnings season for most public companies, with banking giants like Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC) leading the way in the first…
