>>> Asset Class Flows
- Equities: $8.3bn inflows (note divergence between $10.5bn ETF inflows and $2.1bn mutual fund outflows)
- Bonds: $1.1bn inflows (ends 5 straight weeks of outflows)
- Precious Metals: $0.4bn outflows (3 straight weeks)
>>> Equity Flows
- Japan: big $5.0bn inflows (inflows in 20 out of past 21 weeks); largest inflows since Apr’14
- Europe: $3.0bn inflows (9 straight weeks)
- EM: $6.8bn outflows (largest in 5 weeks)
- US: $5.2bn inflows ($7.4bn ETF inflows vs $2.3bn mutual fund outflows)
- Note that flows to high “yield” beginning to roll-over and show signs of fatigue
>>> Fixed Income Flows
- Chunky $2.3bn outflows from IG bond funds (largest since Dec’13)
- First inflows to HY bond funds in 6 weeks ($1.3bn)
- $0.5bn outflows from EM debt funds (outflows in 7 out of past 8 weeks)
- Big $2.6bn inflows to govt/tsy funds (largest since Feb’15)
- 6 straight weeks of outflows from municipal bond funds (modest $0.3bn)