Money Flows Show 'Risk On'
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BofA/Merrill Lynch strategists note that cash is moving out of money markets and into U.S./Japanese equities and into high-yield bonds. The firm noted the largest equity inflows in 12 weeks and also the largest high-yield inflows in 17 weeks. Equities had weekly inflows of $13.4 billion.
Money-market funds showed $45 billion in redemption, the largest since October 2013.
In fixed income, emerging market debt funds had their 21st straight week of outflows (tied for longest outflow streak on record). TIPS funds had their 7th straight weeks of outflows.
Below is a weekly chart of flows as a percentage of assets under management:
Money-market funds showed $45 billion in redemption, the largest since October 2013.
In fixed income, emerging market debt funds had their 21st straight week of outflows (tied for longest outflow streak on record). TIPS funds had their 7th straight weeks of outflows.
Below is a weekly chart of flows as a percentage of assets under management:
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