S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketBNY’s iFlow data show heightened risk aversion, with bond buying concentrated in G10 and Eurozone debt while EM sovereigns are sold. FX flows highlight outflows from INR and EUR against demand for CNY and ZAR. Concerns over energy import stress and fiscal responses are driving FX sales in many surplus economies, with KRW and JPY the only overheld APAC currencies left.
iFlow signals defensive positioning
“Out of the ten currencies we see as being in the funding category, most are underheld because of low yields.”
“At present, only KRW and JPY remain overheld but purchases are light, while many surplus economies are facing FX sales for fear of import stress and short-term fiscal impulse to reduce energy burdens.”
“INR, TRY, EUR and SGD outflows stood out, against strong demand in CNY, ZAR, PLN and COP.”
“Investors are in heightened risk aversion mode, with iFlow Mood accelerating in negative territory at -0.088.”
“Bond buying picked up in pace, while equity demand flattened out.”
