This Is Who Was Buying Stocks When Bond Yields Were Collapsing...

Tyler Durden's picture

The week ending May 30th was an odd week for many... US treasury bond yields were collapsing but US equity prices were soaring to ever higher higher highs on weaker and weaker data. We know institutional asset managers were net sellers during this time and we know that the indiscriminate and non-economic corporate buyback-machine was in full swing but still... who was really the bid day in day out with no sense optimal timing... Thanks to tonight's Japanese flows data, we know... Japanese investors bought the most foreign stocks in that week since 2009...

 

 

In fact, this is the most stocks that Japanese investors have bought since the week of March 6th 2009... the lows in the S&P 500... but note they were buying in this size at the top... as Lehman collapsed and all the way down...

One can't help but wonder who has the firepower to buy all the way down into the 50% collapse of US equities in 2009 and then again last week as bonds started to flash danger signals... (and note the selling in early 2013 - when the Nikkei was exploding higher relative to US)...