Markets settled with total volume reaching $277.3B, clocking in at 99% of the 30-day average, signaling a day of typical engagement. However, underneath the surface, a distinct rotation into real assets emerged as the day’s defining story. The Commodities asset class saw the most elevated interest relative to recent norms, driven by a specific surge in the Multi-Sector – Broad Market category (finishing the day down 0.39%). This pocket of activity was notably fueled by heavy turnover in CMDT (closing -0.76%), highlighting a divergence where traders sought broad exposure despite the lack of aggregate volume spikes in traditional equities.
Asset Class Summary
Asset Class
Volume
30D Avg.
% of 30D Avg.
Equity
$195.6B
$193.7B
101%
Fixed Income
$26.3B
$29.6B
89%
Commodity
$9.7B
$8.1B
120%
Digital Asset
$8.0B
$7.5B
108%
Currency
$56.9M
$83.3M
68%
Alternative
$1.1B
$1.4B
78%
Non-Traditional
$36.3B
$40.2B
90%
Multi-Asset
$197.7M
$170.2M
116%
Equity
Equity markets saw $195.6B in total volume, trading at 101% of the 30-day average. Activity was heavily concentrated in the Global Ex-U.S. Large Cap – Blend category (finishing the day up 0.52%) and the U.S. Small Cap – Value category (finishing the day down 0.23%). This surge was largely driven by heavy turnover in HEFA (closing +0.42%) and IWN (closing -0.39%), both of which saw exceptionally high activity relative to their norms.
Fixed Income volume reached $26.3B, representing 89% of its 30-day average. The session saw notable interest in the Fixed Income: Taxable – Core category (finishing the day up 0.09%) and the Fixed Income: Specialty – Defined Maturity category (finishing the day up 0.05%). This activity was largely driven by heavy turnover in JBND (closing +0.07%) and IBTK (closing +0.05%), both of which saw significant spikes in trading volume relative to their averages.
Commodities saw $9.7B in total volume, trading at 120% of the 30-day average. Activity was heavily concentrated in the Commodity: Multi-Sector – Broad Market category (finishing the day down 0.39%). This surge was largely driven by heavy turnover in CMDT (closing -0.76%), which saw exceptionally high activity relative to its norm.
Crypto markets saw $8.0B in total volume, trading at 108% of the 30-day average. Activity was largely in line with averages, with no single category meeting the high-volume criteria. However, there was notable idiosyncratic activity in HODL (closing -5.21%), which traded well above its recent daily norms.
Currencies volume reached $56.9M, representing 68% of its 30-day average. While overall category volume remained muted with no categories crossing the $100M threshold, specific pockets of activity were visible, largely driven by heavy turnover in FXY (closing +0.47%).
Alternatives volume reached $1.1B, representing 78% of its 30-day average. While category-level volumes were below the high-volume threshold, the session was marked by heavy turnover in DBMF (closing -0.76%), suggesting specific positioning adjustments within managed futures strategies despite the quieter asset class backdrop.
Non-Traditional volume reached $36.3B, representing 90% of its 30-day average. While broad categories remained within standard volume ranges, specific tickers attracted significant attention. This was largely driven by heavy turnover in WTPI (closing -0.17%), which saw a notable spike in activity compared to its typical trading pattern.
Multi-Asset volume reached $197.7M, representing 116% of its 30-day average. While category volumes did not breach the high-volume threshold, idiosyncratic activity was present. This was largely driven by heavy turnover in AOK (closing +0.10%), which saw elevated trading activity relative to its recent average.
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