March 5 2021
1. Biggest ever inflows into equity ETF’s in Feb 2021…
Equity ETF’s recorded the best month of inflows on record, according to data compiled by Bloomberg. With almost $86 billion to those funds in February. Vanguard Group’s S&P 500 ETF (VOO) led the way in February, luring over $11 billion – the most on record.
2. It’s a job seekers market! The inventory of ads today sits at around 180k vs pre-Covid levels 150-160k.
Interestingly, the chart below highlights that the increase in job ads has gone hand in hand with a decline in candidate availability… With SEEK saying we are seeing a transition to a job seekers market.
3. Boom times! Government intervention has led to boom conditions in Australia and globally. Looking at the data:
- UK Mortgage application approvals hit post GFC highs
2. Dr Copper points to robust economic conditions
3. Freight costs have skyrocketed – with demand for “things” over “services” during COVID
Source: BOE, ABS, Bloomberg