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Lipper Reports Largest Ever Weekly High Yield Outflow

Tyler Durden's picture




 

Just out per Lipper, High Yield recorded its largest weekly outflow ever with a negative $2.8 billion this week. Presumably this is due to the risk off mood in the markets carried over from last week, or maybe just more funds converting out of fixed income and pumping into equities in advance of what even the futures just seem to realize is an inevitability (go ahead, check out the ES chart AH, we dare you). That said, per ICI there was a 3rd consecutive outflow from domestic equity, so perhaps this was simply derisking. Continuing on the Lipper news, the 4 week average dropped from $181 million of inflows to $641 million in outflows, pushing the year to date down by half to just $2.9 billion in inflows. On the other hand, loan funds continues being John Holmes with $9.5 billion in YTD inflows, although just $57 million (down from $686 million) in the last week.

 

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Thu, 03/24/2011 - 18:07 | 1097124 X. Kurt OSis
X. Kurt OSis's picture

And 5 yr HY CDS spreads are 15 tighter since last week...  That sure feels like risk off.  I'll say it again.  Bizarro.

Thu, 03/24/2011 - 18:09 | 1097125 Racer
Racer's picture

I think the sooner the world stops using toilet paper as a currency the sooner a real recovery can start

Thu, 03/24/2011 - 18:08 | 1097126 mynhair
mynhair's picture

This makes no sense, unless it was pumped into the ES.

Thu, 03/24/2011 - 18:11 | 1097130 Commander Cody
Commander Cody's picture

Derisking?  Equities to the moon, baby!  QE3 rocks.

Thu, 03/24/2011 - 18:13 | 1097134 IrrationalMan
IrrationalMan's picture

it is even odder to compare it to the other AH charts and see that it didn't do the same anywere else.  

 

+1310 and counting

 

Thu, 03/24/2011 - 18:17 | 1097142 alien-IQ
alien-IQ's picture

check out the 1 minute /ES chart at 5.20PM. comical volume and price spike out of nowhere. Up 8 points in 1 minute on nearly 10,000 contracts.

Nothing to see here folks...move along.

Thu, 03/24/2011 - 18:14 | 1097137 SheepDog-One
SheepDog-One's picture

Must be due to the leaked European trading desk memo that theyre all-in 250% and rockin and rollin.

Thu, 03/24/2011 - 18:23 | 1097159 NotApplicable
NotApplicable's picture

Really, who needs the risk of high-yields when The Bernank has got your back?

Still, I wouldn't be surprised if that leak wasn't a preliminary head-fake in order to draw in even more suckers.

Toss out some juicy bait, let a few nibble on it without consequence, then once it gets everyone's attention, scoop 'em all up in one big dragnet. Then they go 250% for reals.

Thu, 03/24/2011 - 18:16 | 1097140 ciaoant1
ciaoant1's picture

Check out this hilariously sad video about austerity

http://www.youtube.com/watch?v=_LgDjHOX_UE&feature=player_embedded

Thu, 03/24/2011 - 18:22 | 1097163 alien-IQ
alien-IQ's picture

That was absolutely PERFECT! Great little video. I'll be sharing that one far and wide.

Thanks for posting it:-)

Thu, 03/24/2011 - 18:27 | 1097181 Racer
Racer's picture

Yes, that certainly says it like it really is

Thu, 03/24/2011 - 18:23 | 1097166 MCHedgeHammer
MCHedgeHammer's picture

no chance of QE3

Thu, 03/24/2011 - 18:32 | 1097198 JW n FL
JW n FL's picture

You are new?? or joking? sarcsm/ ? cause if you are serious we all should share some facts with you.. you will not like them, you will blame us and you will be very angry.. but after a while, you will be thankful that the truth was made available to you and all will be forgiven.. unicorns with skittles flying out of thier butts flying buy!!! Buy, BUY!!!

Thu, 03/24/2011 - 21:37 | 1097845 Element
Element's picture

But ... PBS said there would be no QE3... WTF? ... you sure?

/sarc

Thu, 03/24/2011 - 19:22 | 1097403 jerry_theking_lawler
jerry_theking_lawler's picture

no need....reinvestment of previous QE dividends will sustain easing....FOREVER!!!!

Thu, 03/24/2011 - 18:23 | 1097167 99er
Thu, 03/24/2011 - 18:58 | 1097287 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Seriously fella, your charts are junk. They have more lines on them than Charlie Sheen's coffee table. They are wrong way more often than they are right... you're better off flipping a coin to make investment/trading decisions than looking at your charts my friend, give up.

Thu, 03/24/2011 - 20:13 | 1097590 99er
99er's picture

Thanks, dude, but I think the charts are more interesting than your photos.

http://my.opera.com/FUNKYMONKEYBOY/blog/

 

Thu, 03/24/2011 - 20:46 | 1097698 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

God damn, us funky monkeys are all pretty ugly it would seem.

Thu, 03/24/2011 - 19:58 | 1097537 chindit13
chindit13's picture

Japanese insurers raising cash...at least until they realized that the BOJ was going to print all the yen anybody will ever need, thus obviating the need to sell UST's or......anything, ever.

Thu, 03/24/2011 - 21:55 | 1097895 Reese Bobby
Reese Bobby's picture

Retail flows.  What really matters is what Japenese institutions decide to do.  Pretty obvious...

Wed, 05/04/2011 - 22:19 | 1241722 tp123
tp123's picture

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