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Crude investors cut positions again, waiting for OPEC meeting

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8 år sedan

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20 november, 2017

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Crude oil ETPs have seen 11 consecutive weeks of outflows as investors continue to take profit Crude investors cut positions again, waiting for OPEC meeting

ETF Securities Weekly Flows Analysis – Crude investors cut positions again, waiting for OPEC meeting

HighlightsCrude oil ETPs have seen 11 consecutive weeks of outflows as investors continue to take profit.
Short US Dollar ETPs have received the largest inflows in ten weeks, totalling US$11.3mn.
Stretched equity valuations prompt the fourth consecutive week of inflows into gold ETPs.
Agricultural ETPs saw largest inflows in nine weeks, breaking a month long run of outflows.

Crude oil ETPs have experienced 11 consecutive weeks of outflows as investors continue to take profit. Over the past 11 weeks, investors have withdrawn US$434mn from long oil ETPs. Last week, crude oil prices lost around a third of the gains of the past month, suggesting that geopolitical risk premium is beginning to dissipate. Downward price pressure is also still being exerted by rising supply, particularly in the US. Crude production spiked to a second consecutive weekly record level (the highest since the Energy Information Agency’s data began in 1983) last week, highlighting the profitability of production at current price levels. Investors will be closely monitoring OPEC comments leading up to its end-November meeting, if the cartel does not follow through with an extension of production cuts, further downside in crude prices is likely.

Stretched equity valuations prompt the fourth consecutive week of inflows into gold ETPs. Inflows into long gold ETPs totalled US$24.1mn last week, over the past 10 weeks, there have only been two weeks of outflows and US$508mn of inflows have been recorded over that period. Uncertainty over the ability for equity markets to continue their stellar rally has led investors to look for ways to hedge a potential correction. Although we expect the Fed to continue to tighten policy, we think the downside risks to gold prices are fairly limited as real interest rates will remain depressed as inflation gains pace in the US. However, a shock event could force gold prices higher, making it an attractive defensive asset to add to a diversified portfolio.

Short US Dollar ETPs have received the largest inflows in ten weeks, totalling US$11.3mn. The vast majority of the short US Dollar ETP fund inflows were against the Euro. The market appears to be discounting the ability of the Fed to hike rates in an appropriate timeframe to counter rising inflationary pressures and engineer a steepening of the US yield curve. With 2018 being a year of change at the Fed, and the top three central bankers relinquishing their positions, there is an increased risk of a policy error. Positioning in the futures market is also stark: with the exception of the JPY, the USD remains the least favoured major currency compared to the longer-term average, with net investor positioning hovering just shy of record low levels.

Diversified agricultural ETPs received largest inflows in nine weeks, breaking a month long run of outflows. A total of US$14.9mn was deposited into long agricultural ETPs, with the lions share flowing into diversified basket agricultural products. It appears that price weakness across the complex is enticing investors to build positions. Sugar is the standout, with the largest inflows in seven weeks, as prices bucked the sector trend, gaining 2.7% last week.

For more information contact

ETF Securities Research team
ETF Securities (UK) Limited
T +44 (0) 207 448 4336
E info@etfsecurities.com

Important Information

General

This communication has been provided by ETF Securities (UK) Limited (”ETFS UK”) which is authorised and regulated by the United Kingdom Financial Conduct Authority (the ”FCA”).

This communication is only targeted at qualified or professional investors.

Liknande ämnen:crude Oil ETF Securities ETPs OPEC

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33GI ETF köper bara eurodenominerade företagsobligationer som förfaller 2033

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2 timmar sedan

den

20 oktober, 2025

Redaktionen

iShares iBonds Dec 2033 Term EUR Corporate UCITS ETF EUR (Dist) (33GI ETF) med ISIN IE000E0NL9T3, strävar efter att spåra Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened index. Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened-index följer företagsobligationer denominerade i EUR.

Indexet speglar inte ett konstant löptidsintervall (som är fallet med de flesta andra obligationsindex). Istället ingår endast obligationer som förfaller under det angivna året (här: 2033) i indexet. Indexet består av ESG (environmental, social and governance) screenade företagsobligationer. Betyg: Investment Grade. Löptid: december 2033 (Denna ETF kommer att stängas efteråt).

Den börshandlade fondens TER (total cost ratio) uppgår till 0,12 % p.a. iShares iBonds Dec 2033 Term EUR Corporate UCITS ETF EUR (Dist) är den billigaste och största ETF som följer Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened index. ETFen replikerar resultatet för det underliggande indexet genom samplingsteknik (köper ett urval av de mest relevanta indexbeståndsdelarna). Ränteintäkterna (kupongerna) i ETFen delas ut till investerarna (Årligen).

Denna ETF lanserades den 5 november 2024 och har sin hemvist i Irland.

Investeringsmål

Fondens mål är att uppnå avkastning på din investering genom en kombination av kapitaltillväxt och inkomst på fondens tillgångar, vilket återspeglar avkastningen från Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened Index, fondens jämförelseindex

Handla 33GI ETF

iShares iBonds Dec 2033 Term EUR Corporate UCITS ETF EUR (Dist) (33GI ETF) är en europeisk börshandlad fond. Denna fond handlas på till exempel Deutsche Boerse Xetra.

Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.

Börsnoteringar

Börs	Valuta	Kortnamn
XETRA	EUR	33GI

Största innehav

Emittent	Vikt %
BANQUE FEDERATIVE DU CREDIT MUTUEL SA	3.10
ORANGE SA	2.49
UBS GROUP AG	2.48
CREDIT AGRICOLE SA	2.18
TELEFONICA EUROPE BV	2.05
BAYER AG	1.98
MIZUHO FINANCIAL GROUP INC	1.97
BPCE SA	1.80
BNP PARIBAS SA	1.77
BOOKING HOLDINGS INC	1.77

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Xtrackers S&P 500 GARP UCITS ETF investerar i 100 utvalda amerikanska företag med högt börsvärde. Urvalsprocessen granskar först hållbar vinst- och intäktstillväxt och utvärderar sedan kvalitet och värde.

Xtrackers S&P 500 Market Leaders UCITS ETF investerar i 50 stora amerikanska företag med högt börsvärde som anses vara marknadsledare. Företagen väljs ut baserat på deras marknadsledarpoäng, som består av hållbar marginal för fritt kassaflöde, avkastning på investerat kapital och marknadsandel.

Namn	ISIN Kortnamn	Avgift	Utdelnings- policy
Xtrackers S&P 500 Defensive Shareholder Yield UCITS ETF	IE000SRQBBT6 XUDY (USD)	0,25%	Ackumulerande
Xtrackers S&P 500 GARP UCITS ETF	IE0001TLQX55 XUGA (USD)	0,25%	Ackumulerande
Xtrackers S&P 500 Market Leaders UCITS ETF	IE000DVHJV46 XUML (USD)	0,25%	Ackumulerande

Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 596 ETFer, 203 ETCer och 282 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 25 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.

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The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.

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