(BofA-ML) Flow Show: Weekly flows show big $13bn inflows to equity funds vs firs

>>> Asset class flows
* Equities: $12.6bn inflows (driven entirely by $13.8bn inflows to ETFs - SPY, IJH, VUG) (inflows boosted by RIA re allocation trade) (Table 1)
* Bonds: $2.3bn outflows (first redemptions in 15 weeks)
* Precious metals: $0.2bn outflows (3rd straight week)

>>> Equity flows
* US: $8.4bn inflows (all via ETFs)
* US Growth funds: first inflows ($0.4bn) in 13 weeks
* By sector, record $1.2bn inflows to Utilities
* EM: $1.4bn inflows (Table 2)
* Japan: $0.2bn outflows (3 straight weeks)
* Europe: $1.1bn inflows (3 straight weeks)
>>> FICC flows
* First outflows from HY bond funds in 19 weeks ($0.7bn)
* Big $5.4bn outflows from Govt/Tsy funds (largely attributable to RIA re-allocation out of IEF & UST ETFs)
* $0.6bn outflows from floating-rate debt (10 straight weeks of outflows)
* $0.6bn inflows to EM debt funds (12 straight weeks) (Chart 3)
* $3.7bn inflows to IG bond funds (26 straight weeks)
* 9 straight weeks of inflows to MBS