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📈 MainSpring ETFs

8.8.2024 | The Morning Spring

Addison
August 08, 2024 • Estimated Reading Time: 7 minutes

Good Morning

^{Thursday, August 8th, 2024}

^{Data reflects end-of-day ETF market data for Wednesday, August 7th, 2024}

_{Upcoming Economic Events:}

📅 _{Aug 8,}_{Initial Jobless Claims}_{| 8:30 AM EST. Median Forcast: 240,000 | Prev: 249,000}
📅 _Aug8,_{Wholesale Inventories}_{| 10 AM EST. Median Forcast: 0.2% | Prev: 0.6%}
📅_{Aug 14,}_{CPI (Inflation) Report}_|_{08:30 AM Eastern Time. Report for July 2024.}
📅_{Aug 29,}_{GDP Second Estimate |}_{08:30 AM Eastern Time. Estimate for Q2 2024.}

Daily Market Data:

_{ETF (>$1B) Market Advancers / Decliners}

If you read anything from today’s letter, let it be this tweet from Jim Bianco 👇️

A lot of the hyperventilation about a crashing economy last week was based on three measures.
* The shockingly weak payroll report
* The Sahm Rule getting triggered
* The shockingly weak ISM manufacturing employment measure
So, what have we learned this week?
* Payrolls might… x.com/i/web/status/1…
— Jim Bianco (@biancoresearch)
4:20 PM • Aug 7, 2024

ETF Market Heat Map

Recovery signs

Global stock markets are recovering from Monday’s wild selloff, as the chaos that started the week gives way to calmer conditions. The Stoxx Europe 600 index rose 1.4%, while futures on the S&P 500 and Nasdaq 100 gained after the underlying indexes rebounded more than 1% on Tuesday. Treasuries and other global bonds ticked lower in another sign of the better tone.

Japan jolt

The rally was given fresh legs in Japan, where central bank Deputy Governor Shinichi Uchida sent a strong dovish signal in the wake of historic financial market volatility by pledging to refrain from hiking interest rates when the markets are unstable. The yen weakened by more than 2% against the dollar, bond futures spiked higher, and stocks rose immediately after his comments, which were the first public remarks by a BOJ board member since the bank raised rates on July 31.

Worries remain

Still, despite today’s developments, Japan has nonetheless become a major source of worry for many global investors. Bank of Japan's action last week forced traders to abandon strategies based on macro views that Japan’s currency would stay weak, and interest rates wouldn’t rise too fast. The surge in the yen also derailed one of the most profitable market strategies this year: carry trades which involve borrowing the Japanese currency to invest in other global assets.

Current Fear & Greed Sentiment:

Uh OH!

ETF Market Snapshot:

Global ETF Market Overview:

Global ETF AuM

_{Data as of 8/2/2024}

$12.29T

-3.98% since 8/7

Flows in ETFs

Year-to-date

+$744.52B

Number of ETFs
Worldwide

10937

+0.009% since 8/7

Top Leveraged ETF Performers on 8/6/2024:

What I am reading today:

Court orders Ripple to pay $125M civil penalty in SEC lawsuit

The penalty payment falls between the SEC’s requested $2 billion penalty and Ripple’s proposal of $10 million.

blockworks.co/news/ripple-fined-civil-penalty-sec-lawsuit

These 4 ETFs Won the Market Sell-Off Monday | ETF Trends

The market sell-off Monday set investors alight, with four particular ETFs seeing a big spike in trading volume relative to their averages.

www.etftrends.com/innovative-etfs-channel/these-4-etfs-won-market-selloff-monday

CAPTRUST Exceeds $1 Trillion of Total Client Assets

The company today announced a major milestone, eclipsing $1 trillion of total client assets as of June 30, 2024.

www.captrust.com/news/captrust-exceeds-1-trillion-dollars/?utm_campaign=2024+Editorial&utm_content=LinkedIn&utm_medium=social&utm_source=LinkedIn

A New Look at Corporate Treasury Strategy

Published: August 2024 In the modern era of corporate finance, the balance sheet of a corporation has trended toward being less important relative to the income statement. Back during Benjamin Graham’s quintessential value investing days, he looked at balance sheet valuation metrics almost as much as he did income-related valuation metrics. But in modern times, […]

www.lynalden.com/a-new-look-at-corporate-treasury-strategy