Lipper Analytical Services has some data
Lipper Analytical Services has outlined some of the flows into and out of markets. I am not sure what to make of it in aggregate, but it is interesting
- US based stock funds posted $231 million outflows. That was the 1st withdrawal in 5 weeks
- US-based taxable bond funds attracted 86 million. 9th straight week of inflows
- US-based money market funds attracted $8.2 billion. That was the largest inflows since March
- US-based domestic focused stock funds attracted $566 million. That was lower below the $1.3B inflow last week
- US-based nondomestic focused stock funds posted a $796 million outflows. That was the largest withdrawal since December
- US-based high-yield bond funds posted a $755 million outflow. The outflow reverse a $526 million in flow in the prior week
- US-based emerging markets equity fund posted a $870 million outflow. Largest withdrawal since November 2016
- US-based emerging markets debt funds posted a $255 million outflow. 3rd straight week of withdrawals
- US-based European stock funds posted a $811 million outflow. That compares to a $27 million inflow last week
- US-based corporate investment-grade bond funds attracted $804 million. 9 straight week of inflows
- US-based government treasury fund attracted $472 million. 6 straight week of inflows
- US-based short-term corporate bond funds attracted $1.1 billion. Largest inflows since September 2017
- US-based commodities precious metals fund posted $161 million outflow. That reversed 5 straight weeks of inflows
- US-based stock mutual funds posted $1.6 billion outflow. Stock ETF's attracted 1.3 billion
- US-based taxable bond mutual funds posted a $78 million outflow
- US-based financial banking sector stock funds posted $583 million outflow. 3rd straight week of declines
- US-based real estate sector stock fund posted a $410 million outflow. 3rd straight week of withdrawals
Some story trends that might dovetail the moves
- The emerging markets are getting hurt from the dollars rise. Not only do they pay from goods and services in dollar terms (so it is more expensive), but they also issued dollar denominated debt at lower yields. Now, however, they need to service the coupons payments with more expensive dollars. That could make default more likely. Money is flowing out. PS it is also flowing out of EM equity funds
- US government treasury funds are attracting more money as yields rise. This week the 10 year nearly got to 3% and 2 year yields are at 2.5%. With a stock market that is sideways-ish. that is not bad. Money is flowing in.
- Commodity precious metal funds give up on the risk-on trade? First decline after 5 weeks of buying
- US money market funds are seeing money go it. Safe haven in an up and downs stock market?
