So much for the rotation out of bonds. Last week equity domestic funds saw outflows of $1,801MM, which is the 31st consecutive outflow and yet more confirmation that retail is done with stocks. Oddly enough, or not really as everyone by now knows who the only remaining buyers are, as the overlay shows, despite $93 billion of outflows, the stock market is at 2010 highs, courtesy of the Federal Reserve. And contrary to the myth, after a brief respite, the inflows in credit have resumed. Aside from that, any…minute…now… the retail idiots will jump in and pick up the 100x fwd P/E hot grenades. Just you wait.
This article is by www.zerohedge.com