| �F.123 Closed-End and Exchange-Traded Funds������������ | |||||||||||||
| �Billions of dollars; quarterly figures are seasonally adjusted annual rates������������ | |||||||||||||
| 2001 | 2002 | 2003 | 2004 | 2005 | 2005 | 2006 | |||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | ||||||||
| �stock price direction� | DOWN | DOWN | DOWN | UP | UP | UP | DOWN | UP | UP | UP | DOWN | ||
| �bond price direction | UP | UP | UP | UP | DOWN | DOWN | UP | DOWN | DOWN | DOWN | DOWN | ||
| Closed-end funds | |||||||||||||
| 1 | Net acquisition of financial assets | 1.9 | 18.1 | 43.9 | 32.8 | 20.0 | 40.6 | 26.1 | 16.6 | -3.1 | 4.3 | 23.9 | 1 |
| 2 | Credit market instruments | 3.2 | 8.6 | 36.2 | 11.2 | 1.5 | 6.4 | 4.0 | -0.8 | -3.4 | 10.1 | 18.5 | 2 |
| 3 | Treasury securities | 0.1 | -2.8 | 1.4 | 2.4 | 0.3 | 0.6 | 1.7 | -1.0 | -0.1 | -1.2 | 0.2 | 3 |
| 4 | Municipal securities | 7.0 | 11.3 | 3.2 | -0.1 | 0.2 | 1.1 | 2.5 | -1.7 | -1.1 | 0.0 | 3.1 | 4 |
| 5 | Corporate and foreign bonds | -3.8 | 0.1 | 31.6 | 8.9 | 1.0 | 4.7 | -0.3 | 1.9 | -2.2 | 11.4 | 15.2 | 5 |
| 6 | Corporate equities | -1.3 | 9.4 | 7.6 | 21.7 | 18.5 | 34.2 | 22.0 | 17.4 | 0.3 | -5.8 | 5.4 | 6 |
| 7 | Net share issues (liabilities) | 1.9 | 18.1 | 43.9 | 32.8 | 20.0 | 40.6 | 26.1 | 16.6 | -3.1 | 4.3 | 23.9 | 7 |
| Exchange-traded funds | |||||||||||||
| 8 | Net acquisition of financial assets | 31.0 | 45.3 | 15.8 | 55.0 | 53.9 | 35.7 | 40.6 | 12.6 | 126.7 | 30.5 | 88.9 | 8 |
| 9 | Credit market instruments | 0.0 | 3.7 | 0.7 | 3.8 | 6.8 | 11.7 | 3.5 | 7.1 | 4.8 | 3.0 | 9.1 | 9 |
| 10 | Treasury securities | 0.0 | 2.0 | 0.1 | 2.8 | 4.8 | 9.3 | 2.1 | 4.5 | 3.3 | 1.4 | 7.1 | 10 |
| 11 | Corporate and foreign bonds | 0.0 | 1.8 | 0.6 | 1.0 | 1.9 | 2.4 | 1.4 | 2.6 | 1.5 | 1.6 | 2.1 | 11 |
| 12 | Corporate equities | 31.0 | 41.6 | 15.1 | 51.2 | 47.1 | 24.0 | 37.1 | 5.5 | 121.9 | 27.5 | 79.7 | 12 |
| 13 | Net share issues (liabilities) | 31.0 | 45.3 | 15.8 | 55.0 | 53.9 | 35.7 | 40.6 | 12.6 | 126.7 | 30.5 | 88.9 | 13 |
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