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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.

Source: SEEK

3. Boom times! Government intervention has led to boom conditions in Australia and globally. Looking at the data: 
  1. 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