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Investing.com - JPMorgan reports that Crypto ETFs saw exceptionally strong inflows last week, totaling $3.7 billion, as the U.S. House of Representatives prepares to consider key cryptocurrency legislation this week.
The financial institution noted that these crypto inflows occurred alongside below-average inflows into equity ETFs ($10.1 billion) and commodity ETFs ($0.4 billion), while fixed income ETFs saw above-average inflows of $7.8 billion. Currency and multi-asset funds also experienced strong inflows of $3.8 billion.
Regional equity flows showed below-average movement into U.S. equities ($4.3 billion), while India, International Developed Markets, Japan, and Brazil all saw strong inflows. In equity sectors, Utilities funds led with strong inflows, followed by Financials and Staples, while Health Care experienced significant outflows and Technology saw smaller outflows.
JPMorgan’s analysis of futures flows revealed large net buying in CSI 1000, France 10-year bonds, Nickel, Japanese Yen, and Ethereum futures, contrasted with substantial net selling in SSE50, China 10-year bonds, and Gold futures. Commodity Trading Advisors (CTAs) likely maintained long positions in global equities, copper, and precious metals.
The CFTC positioning data showed Asset Managers bought Nasdaq 100 futures last week while maintaining elevated long positions in U.S. Fixed Income, and Leveraged Funds increased their short positions in S&P 500 and EAFE futures.
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