(Full note attached) * Asset Class Flows - Equities: $17.2bn inflows ($14.6bn via ETF's) (Table 1) - Bonds: $3.3bn outflows (3 straight weeks) - MMF: outsized $70bn outflows (same size as Aug'11 outflows) - Precious metals: $1.1 outflows (largest outflows in 14 weeks)
* Equity Flows - US: $10.6bn inflows (all via ETF's - SPY, IWM) (breaks 3-week outflow streak) - Europe: 3rd largest weekly inflows on record ($3.4bn) (16 straight weeks) - EM: $0.9bn inflows (inflows in 5 out of past 6 weeks) (Table 2) - Japan: $0.6bn inflows (6 straight weeks)
*Fixed Income Flows - 69 straight weeks of inflows to floating-rate debt ($0.6bn) (Table 3) - 6th straight week of inflows to HY bond funds ($1.7bn) - 6th straight week of redemptions from govt/tsy funds ($0.9bn) - $2.0bn outflows from IG bond funds - $0.5bn outflows from EM debt funds (3 straight weeks) - 27 straight weeks of outflows from TIPS ($0.2bn)