Asset Class Flows
- Equities: $4.3bn inflows (3 straight weeks) (note divergence between $7.2bn ETF inflows & $2.9bn mutual fund outflows)
- Bonds: strong $7.7bn inflows (largest since Apr’15)
- Precious metals: $0.7bn inflows (10 straight weeks)
- Money-markets: big $39bn outflows (largest since Apr’15)
Equity Flows
- Europe: $4.0bn outflows (6 straight weeks = worst since Oct’14)
- Japan: $0.4bn outflows
- EM: $1.4bn inflows (2nd straight week)
- US: $3.8bn inflows (2nd straight week)
- By sector: healthcare outflows in 10 of past 11 weeks (big $1.1bn outflows this week); first outflows from utilities in 10 weeks; chunky $0.8bn outflows from financials
Fixed Income Flows
$2.9bn inflows to HY bond funds (largest 4w inflows in 4 years)
$3.8bn inflows to IG bond funds (largest since Jun’15)
$0.8bn inflows to EM debt funds (4 straight weeks)
5 straight weeks of inflows to TIPS ($0.4bn)
2nd straight week of inflows to bank loan funds ($0.2bn) (following from 18 straight weeks of outflows)
26 straight weeks of inflows to Munis ($0.5bn)
$1.2bn outflows from Govt/Tsy funds (4 straight weeks)