$7.4bn into equities, $4.8bn into bonds, $0.2bn into gold
Bond flows: 3rd highest week of TIPS fund inflows ever (Chart 1), $9.8bn in HY outflows over the past 4 weeks but EM debt still seeing inflows
Equity flows: Japan the flows favorite with $9.2bn equity inflows in the past 4 weeks vs. just $0.8bn into Europe and $4.8bn in outflows from US; biggest healthcare outflows since Jan’17
BofAML Bull & Bear Indicator: ticks up slightly to 6.8 on long-only positioning & credit inflows; ends 3 weeks of decline after recent peak of 7.6 on Oct 26th
Asset Class
Equities: inflows 22 of past 24 weeks ($7.4bn; $13.0bn into ETFs, $5.7bn mutual funds outflows)
Bonds: inflows 46 of past 48 weeks ($4.8bn)
Precious metals: small week of inflows ($0.2bn)
Fixed Income Flows (Chart 26)
48 straight weeks of IG bond fund inflows ($4.3bn)
4th week of HY bond fund outflows ($2.0bn)
Inflows 41 of past 43 weeks EM debt ($0.9bn)
Small muni funds inflows ($0.4bn)
Small outflows to govt/Tsy funds ($0.01bn)
Largest inflows into TIPS since Nov’16 ($1.2bn)
Modest bank loan fund outflows ($0.5bn)
Equity Flows (Table 2)
US: small inflows ($1.0bn)
Japan: strong inflows ($2.6bn)
Europe: small outflows ($0.4bn)
EM: inflows for 34 of past 36 weeks ($1.5bn)
By style: moderate US large caps inflows ($1.9bn), small US growth outflows ($0.8bn), strong US value fund outflows ($2.2bn)
By sector: inflows to financials ($0.6bn), tech ($0.6bn), consumer ($0.2bn), real estate ($0.1bn) utilities ($0.1bn), materials ($0.1bn); outflows energy ($0.4bn), health care ($0.6bn)