--> Weekly flows show investors raising cash ($31bn inflows) as risk markets globally consolidate.
--> Despite risk-off sentiment, consensus “darlings” YTD continue to benefit from inflows this week
>>> Asset Class Flows
* Equities: $2.0bn outflows (all via LO funds) (Table 1)
* Bonds: small $0.4bn outflows
* Precious metals: 12 straight weeks of outflows
* MMF: $31bn inflows (largest in 6 weeks)
>>> Equity Flows
* EM: 6 straight weeks of outflows ($1.7bn) (Table 2)
* US: first outflows in 4 weeks (all via LO funds)
* Europe: 23 straight weeks of inflows
* Japan: $0.6bn inflows ($43bn inflows YTD = largest on record)
>>> Fixed Income Flows
* $1.3bn inflows to HY bond funds (inflows in 12 out of past 13 weeks)
* $1.3bn outflows from IG bond funds (largest in 5 weeks)
* 34 straight weeks of outflows from TIPS
* 29 straight weeks of outflows from MBS
* 76 straight weeks of inflows to floating-rate debt (Table 3)
* Inflows to EM debt funds (but all inflows due to inclusion of new fund in database