"Monster equity inflows" this week show a "capitulation into equities," says BofA strategist Michael Hartnett.
Equity funds increased assets under management by $14.1 billion in the week ended May 15, with $12.5 billion of that going into broad stock market ETFs.
$14.1 billion in one week is on par with the big equity inflows we saw in January, when everyone was talking about a "Great Rotation" out of bond funds and into equity funds.
(That's still not happening – bond funds still recorded $3.4 billion in inflows this week, but it was the weakest performance in the past nine weeks.)
Meanwhile, Japanese equity funds had their biggest week ever, taking in $6.8 billion, although Hartnett says the number is "inflated by new coverage of Daiwa ETF that tracks TPX."
Even European funds got in on the fun, taking in $0.5 billion – the first inflows into Europe in 12 weeks.
Precious metals funds saw $1.1 billion in outflows, extending the streak of outflows to 14 weeks – the longest on record.
The table below shows a breakdown of equity fund flows by region.
Equity funds increased assets under management by $14.1 billion in the week ended May 15, with $12.5 billion of that going into broad stock market ETFs.
$14.1 billion in one week is on par with the big equity inflows we saw in January, when everyone was talking about a "Great Rotation" out of bond funds and into equity funds.
(That's still not happening – bond funds still recorded $3.4 billion in inflows this week, but it was the weakest performance in the past nine weeks.)
Meanwhile, Japanese equity funds had their biggest week ever, taking in $6.8 billion, although Hartnett says the number is "inflated by new coverage of Daiwa ETF that tracks TPX."
BofAML Global Research, EPFR Global
Even European funds got in on the fun, taking in $0.5 billion – the first inflows into Europe in 12 weeks.
Precious metals funds saw $1.1 billion in outflows, extending the streak of outflows to 14 weeks – the longest on record.
The table below shows a breakdown of equity fund flows by region.
BofAML Global Research, EPFR Global
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