US stocks saw their biggest weekly outflows in almost three months with $9.8 billion pouring out of equities in the week ending June 11th, according to Bank of America data. Given this recent sentiment, we want to know how traders are positioning amid the volatility that we're seeing heading into the weekend. For that, I want to bring in my guest contributor for the hour, Todd Rosenbluth, who is the TMX Vetyfy head of research. Todd, good to have you here with us today.

Great to be with you.

Let's dive into this. Just talk about some of the flows data that you're seeing right now and what that spells out about the mindset of investors, even as we had seen the S&P 500 get to its highest closing level since February just yesterday.

Right. So the most recent flows data that we've seen has been a pickup in demand for fixed income ETFs. So, core bond ETFs like BND or AGG, those are a couple of those, uh, widely held products. We've seen short-term government bond products gain traction, even gold, uh, saw some recent inflows with GLD.

But I would note, we are on pace to have a trillion dollars of net inflows into ETFs again. We're we're closing in on 500 mark, which is tremendous at the halfway mark. Unlike last year where we crossed a trillion dollars,

this has been a much more volatile time period for the equity market and the fixed income market. So it's great to see investors, even though they pulled back a bit in terms of the equity flows that you noted earlier, there's still overall demand for ETFs. It's more of a rotation than a moving money to the sidelines.

On the whole, what is the typical flows activity that we tend to see, especially when there is overnight development and conflict in the Middle East, the most recent consideration that investors also have to look across their portfolio, look across their watch list and really assess where they might need to rotate, at least in an interim period of time?

So, given the strong rally that we saw and then the news that came out about what's going on in Israel and the Middle East,

it's more likely that we're going to see a rotation today and perhaps into early next week into the more defensive ways of investing. That's fixed income, short-term fixed income, gold, and even the more defensive equity, uh, investment styles. The higher quality, the more stable free cash flow, and we're likely to see energy products, uh, gain demand. AMLP is one of those more defensive energy products. It's the Alerian MLP ETF. We're likely to see as investors are rediscovering energy, given the rally and its defensive characteristics. That's an ETF we have our eye on.

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