Based on the Scotia ETF EDGE reports from July 1 to Aug. 2, spanning a five-week period, Canadian ETFs saw an inflow of $7.6-billion. Equity ETFs topped the month with net creations of around $4.1-billion while Inflows in fixed income decreased compared to the previous month, accounting for $1.6-billion. Cash saw inflow of nearly $0.19-billion. Crypto bounced back from last month’s exodus with net creations of $99 million.
U.S. Fed chair Jerome Powell opened July with the a semi-annual policy report. Reading the tea leaves, Mr. Powell remarks that the economy is no longer overheated and that the labour market appears to be fully back in balance. Despite the optimism, the members of the FOMC voted to maintain the federal funds rate. Market reaction following the press conference was muted as analysts and observers expected a rate hold understanding that the committee are data dependent.
The CrowdStrike incident caused the company…
