The artificial intelligence boom is handing a big win to hedge funds angling for an edge.
Equity smart-beta exchange-traded funds in the US saw record outflows in the month of May, with outsized drops in value funds targeting cheap stocks.
Underlying inflation in the euro zone dipped by more than expected, though European Central Bank President Christine Lagarde said there’s “no clear evidence” that it’s peaked and pledged to lift interest rates further.
Traders are piling back into a Japan-focused stock ETF that strips out foreign-exchange volatility, seeking to seize on the country’s equity-market rally without the risk of the yen weakening further against the US dollar.
Hong Kong’s stock exchange is looking to automate its handling of exchange-traded products in a bid to streamline trading as it plays catchup with Asian rivals.
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