we are joined by jim ross, global head of spider etfs.come. >> thanks for having me. >> it's great to have you here, because etfs have become such an important asset class. in fact, the tail wagging the dog, the dog wagging the tail is the question these days. you've been around since '92. the spider s&p etf was '93. you're practically the godfather of this business. >> thank you. >> what's notable about it today? >> we're seeing a lot of trends in the marketplace today. investors are using etfs for more and more things, a lot in fixed income in particular. flows this year, flows of about $90 billion, on track with last year, split while $46 billion to equity, $40 billion to fixed income. the impressive thing about that from faxed income standpoint, that's about 10% of the overall etf market. so, $400 billion in fixed income. about 10% of flows this year, 10% of that. it's pretty interesting. a lot of investors are looking at fixed income as a way of expressing their views. >> on the range of concerned to extremely concerned, what do you

jim donovan. >> all right. 84:00. let's listen in. that is sound have hail, unbelievable shots from ross well new mexico.rm system dumped 4-inch hail on the ground. they look like something out of the movie independent day, which is, never a good thing. and we are happy we are in the seeing that here but we did not too long ago. >> ross well, new mexico there could have been some space alien or something. here on the boardwalk we are not finding that problem. as you mentioned, nicole, we have seen a lot of hail and that was last month but they are still dealing with the damage from it. but right now we're just doing maybe some sun damage if you don't have your sun screen on. it is a is in day at the shore and really every place else. a few more clouds then what we saw yesterday, and speaking of which there they are, and you can see that they are, out there, they are far more to the west but they are moving in this direction. so expect to find later this afternoon more clouds, then we saw yesterday but still we will get sun breaks. this is what we are finding overnight especially to the west of philadelph

ross fought in world war ii, decided he could not return to mississippi, went to chicago, was able to get a job. did not have to deal with jim crow customs anymore. when he went to buy a house, he was cut out by the greatest wealth opportunity in american history, home ownership. african-americans around the country were cut out of that process. buying on contract was a particularly onerous rent to own scheme. you have all the disadvantages of home ownership and all the disadvantages of renting. you owe somebody presumably a mortgage payment, but not really. you do not build equity. should you miss one payment, you are kicked out of the home and they keep all the money. mr. ross somehow managed to hold onto his house. but there are swathes, literally thousands of people, who bought their homes in that way in chicago. it is estimated that 85% of african-americans in chicago during this period both their home through a contract. host: this was -- guest: 1950's. , 1950's. it is made possible by a policy of the united states which did not believe african-americans to be responsible homeowners. host: like the home owners loan cor

ross fought in world war ii, decided he could not return to mississippi, went to chicago, was able to get a job. did not have to deal with jimustoms anymore. when he went to buy a house, he was cut out by the greatest wealth opportunity in american history, home ownership. african-americans around the country were cut out of that process. buying on contract was a particularly onerous rent to own scheme. you have all the disadvantages of home ownership and all the disadvantages of renting. you owe somebody presumably a mortgage payment, but not really. you do not build equity. should you miss one payment, you are kicked out of the home and they keep all the money. mr. ross somehow managed to hold onto his house. but there are swathes, literally thousands of people, who bought their homes in that way in chicago. it is estimated that 85% of african-americans in chicago during this period both their home through a contract. host: this was -- guest: 1950's. , 1950's. it is made possible by a policy of the united states which did not believe african-americans to be responsible homeowners. host: like the home owners loan corporatio