It Ain't Over 'til the Fed Lady Sings
>>> Asset Class Flows
- Equities: modest $0.6bn outflows (note $13.7bn ETF inflows vs $14.3bn outflows from mutual funds)
- Bonds: $1.2bn outflows (6 straight weeks = longest streak in 14 months)
- Precious metals: $1.7bn outflows (4 straight weeks)
>>> Equity Flows
- EM: $1.8bn outflows (outflows in 5 of past 6 weeks)
- US: 5 straight weeks of inflows ($1.3bn)
- Europe: $1.0bn outflows
- Japan: $0.8bn inflows
- By sector: 11 straight weeks of financials inflows ($1.2bn); 5 straight weeks of REITs outflows ($0.4bn); largest energy inflows ($1.2bn) in 12 months
>>> Fixed Income Flows
- 6 straight weeks of outflows from muni bond funds ($2.0bn)
- 5 straight weeks of outflows from EM debt funds ($2.4bn)
- 5 straight weeks of outflows from IG bond funds (albeit tiny $46mn)
- 2 straight weeks of TIPS outflows ($0.1bn)
- Largest inflows to bank loans in 3 years ($1.7bn) (inflows in 21 of past 23 weeks)
- Second straight week of inflows to HY bond funds ($1.8bn)
- First inflows in 4 weeks to govt bond funds ($0.8bn)