Sell sell sell. That's what the private clients of BofAML have been doing for what seems to be an absolute eternity now. Counting last week, the 5-week rolling aggregate flow into equity funds dropped to -$43.1bn, or the largest outflow since 2008. So what was specifically sold? In short, high beta m, high leverage, high vol, China, Japan were sold. High quality, low vol, precious metals, and inflation hedged plays were heavily sought.
There is obviously a strong aversion to risk, and a draw to safety. Interestingly, money market funds actually saw outflows of $1.2bn last week. It look to is that even rich and wealthy private investors hardly know what to do with their money in this volatile but trendless market.
We're stick to our bias towards technical strategies for the time being.
There is obviously a strong aversion to risk, and a draw to safety. Interestingly, money market funds actually saw outflows of $1.2bn last week. It look to is that even rich and wealthy private investors hardly know what to do with their money in this volatile but trendless market.
We're stick to our bias towards technical strategies for the time being.