U.S. Equities See Strong Inflows; HY Bonds Outflows, BofAML Says
Investors poured the most money in 26 weeks into U.S. equities as they reached record highs, taking money from European stocks, analysts at BofAML say in research note citing EPFR Global data for week ending Dec. 13.
- Inflows strong for passive funds with second-largest week of inflows ever ($31.4b) into equity ETFs vs fourth-largest week ever of outflows from equity mutual funds ($22.7b)
- U.S. equities see $7.8b of inflows, most in 26 weeks, while European stocks see $2.1b outflows, most in 65 weeks
- Japanese shares see $2b inflows and EM shares $0.9b inflow
- Overall, investors added $8.7b to equity funds, $1.2b to bonds, took $0.1b from gold
- IG bond funds gain $2.7b in 51st straight week of inflows; $2.4b taken from HY funds in 7th straight week of outflows