NORW

The declining trend in eurozone fragmentation risk is meeting resistance.The ECB signals that it will become the first global central bank to adopt "Sustainable Easing" into its monetary policy framework.ECB defined "Sustainable Easing" conflates Global Warming with emergency COVID-19 pandemic bond-buying permanently.Spain is a growing risk of contagion that could spread fragmentation risk throughout the eurozone.If managed correctly, rising fragmentation risk can be the catalyst for MMT.

Following the continued rally in US markets on news of a stimulus package and support from the Fed, investors began looking towards international markets for greater returns.The Global X MSCI Argentina ETF was the best performing single-country ETF within the International Access Suite, returning 45.14% during the quarter.Although the Global X Colombia ETF and the Global X Portugal ETF were the bottom performers within the international suite in Q2, they both still managed to outperform the S&P 500 for the quarter.