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 Zero Hedge: The Blow-Off Top Is Here: Second Largest Weekly Inflows To Wall Street In History

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PostSubject: Zero Hedge: The Blow-Off Top Is Here: Second Largest Weekly Inflows To Wall Street In History   Fri Jun 16, 2017 6:37 pm

For confirmation that the market is now in its "blow off top" phase, contrary to claims that the market keeps "climbing a wall of worry" and that the "money on the sidelines" refuses to enter, look no further than the latest BofA "flow show" in which Michael Hartnett reports that capital markets just saw their biggest week of equity inflows since the US election ($24.6bn), another chunky inflow to bonds ($9.0bn), which combines to "the second largest week of inflows to Wall Street ever (largest was $35.5bn in Dec'2014)."



Unfortunately for active managers, the news was anything but good because for another week in a row, the big winner was ETFs with $26.3bn equity ETF inflow vs $1.7bn outflow from equity mutual funds, while fixed income saw 4.8bn bond ETF inflows vs $4.2bn into bond mutual funds; seven equity ETFs (SPY, IVV, IWM, VO, VTI, XLF, VUG) & one bond ETF (EMB) had inflows >$1bn

Another winner according to BofA: "yield": investors are still piling into "high-yielding" fixed income product with inflows to IG, HY, EM debt = $35bn past 4 weeks, fastest pace since Feb'15 (Chart 2)

http://www.zerohedge.com/news/2017-06-16/blow-top-here-second-largest-weekly-inflows-wall-street-history
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Zero Hedge: The Blow-Off Top Is Here: Second Largest Weekly Inflows To Wall Street In History

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