ETF flows signal shifting investor sentiment

There were sizeable redemptions in money market ETFs (US$17bn globally), ending five consecutive weeks of inflows, Cowen reports. The redemptions funded purchases of equity, bond and (on a lesser scale) commodity ETFs. US equity ETFs saw the bulk of the inflows at $12.3bn, reversing the huge redemptions seen in US equity ETFs the previous week. A further sign that the risk-off mode may be ending is that gold and precious metals saw outflows last week. ETF Securities reported $40mn of outflows in the asset class, while diversified commodity ETCs ended a six-week run of outflows, with $...