(BofA-ML) The Flow Show - Big in Japan - Out of US...

>>> Asset Class Flows
* Equities: small $0.6bn outflows (note divergence between $2.4bn ETF inflows and $3.0bn outflows from mutual funds)
* Bonds: $1.4bn inflows (inflows in 19 out of past 20 weeks)
* Commodities: small $0.1bn outflows (3 straight weeks)

>>> Equity Flows
* Japan: $1.2bn inflows (13 straight weeks of inflows)
* Europe: $3.2bn inflows (first inflows in 3 weeks)
* EM: ekes out modest inflows $0.9bn (first inflows in 5 weeks)
* US: $8.5bn outflows (outflows in 8 out of past 9 weeks)

>>> Fixed Income Flows
* 74 straight weeks of inflows to IG bond funds ($2.1bn)
* Small $0.3bn inflows to HY bond funds (first inflows in 5 weeks)
* 10 straight weeks of inflows to TIPS funds ($0.2bn)
* 9 straight weeks of inflows to EM debt funds ($0.2bn)
* 4 straight weeks of outflows from govt/tsy funds ($1.3bn)