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S&P ETF Outflows Soar To Biggest Since 2008

Tyler Durden's picture




 

Presented with little comment aside to ask... is it different this time?

 

 

and as a reminder, HY outflows are surging... perhaps, just perhaps the taper does matter? Perhaps the 'repo' issue we have been exposing matters?

 

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Wed, 08/06/2014 - 14:58 | 5055232 Doubleguns
Doubleguns's picture

Red neck for hey yall watch this!!!

Wed, 08/06/2014 - 15:56 | 5055549 gh0atrider
gh0atrider's picture

ray ray ray Satoshi!  We love you!

Wed, 08/06/2014 - 16:03 | 5055598 wallstreetapost...
wallstreetaposteriori's picture

Fuck Fonestar and Fuck Satoshi.  

Wed, 08/06/2014 - 16:16 | 5055676 Cattender
Cattender's picture

is it Different this time? Well, considering that this MASSIVE $ Printing has NEVER happened before. ever. Yes.. it IS Different this time.

Wed, 08/06/2014 - 14:58 | 5055234 GOLD AND SILVER...
GOLD AND SILVER NATZI's picture

Nonsense, bullish!

Wed, 08/06/2014 - 15:09 | 5055235 hedgeless_horseman
hedgeless_horseman's picture

 

 

What will you do with those proceeds from selling all of your SPDR?

Bullish for mattress safes!

 

“There’s nothing like counting sheep, then blowing their heads off.”

 

“It answers all those questions that keep me up at night … like why is my box springs not filled with guns?”

 

And, “Thanks to the Bed Bunker, I can now set my sleep number to 357.”

 

-Colbert Report

 

 

Wed, 08/06/2014 - 15:16 | 5055315 disabledvet
disabledvet's picture

There's NO biz ness like SHOWWWWW biz ness like NO business I KNOWWWWWWWWW!

Wed, 08/06/2014 - 15:38 | 5055431 Theosebes Goodfellow
Theosebes Goodfellow's picture

That's a fact, Vet. Long on bread and circuses.

Wed, 08/06/2014 - 14:58 | 5055236 Spitzer
Spitzer's picture

Herd them into bonds.

Wed, 08/06/2014 - 14:59 | 5055244 fonzannoon
fonzannoon's picture

mostly cash. Most big firms are prepping for the fed to raise rates. May as well get to cash and start picking away as both stawks and bawnds possibly go on sale.

Wed, 08/06/2014 - 15:19 | 5055323 Dr. Engali
Dr. Engali's picture

Raise rates ...... Lol.

Wed, 08/06/2014 - 17:58 | 5056153 in4mayshun
in4mayshun's picture

Ya right. Raise rates and then every multinational bank in the western world goes bankrupt the next day.

Wed, 08/06/2014 - 14:59 | 5055243 mayhem_korner
mayhem_korner's picture

 

 

Let's see them taper below the monthly fiscal spending shortfall.  See how things go when someone has to put up their OWN fiat to bid securities. 

Wed, 08/06/2014 - 16:35 | 5055760 Bossman1967
Bossman1967's picture

Theres allways zimbabwe

Wed, 08/06/2014 - 15:01 | 5055251 Sudden Debt
Sudden Debt's picture

4 dollar silver....

Wed, 08/06/2014 - 15:10 | 5055288 hobopants
hobopants's picture

Don't scare me like that, lol (of course that would be a hell of a buying op).

Wed, 08/06/2014 - 15:18 | 5055322 disabledvet
disabledvet's picture

You had to go capture that friggin comet now didn't ya!

Wed, 08/06/2014 - 19:11 | 5056486 SAT 800
SAT 800's picture

Why do you say such an odd thing? You, of all people, know better. This is not possible.

Wed, 08/06/2014 - 20:07 | 5056646 Save_America1st
Save_America1st's picture

Man, would I loves me some Foe Dollah Silvuh, bitchez!!! 

Wed, 08/06/2014 - 15:02 | 5055253 TheRideNeverEnds
TheRideNeverEnds's picture

Smart money is getting out of the risky SPY and into the safe bellweathers like TSLA.

Wed, 08/06/2014 - 15:19 | 5055326 disabledvet
disabledvet's picture

SPACE INVADERS!

Wed, 08/06/2014 - 17:27 | 5056001 syntaxterror
syntaxterror's picture

AMZN on sale with a 850 P/E. So many great investments to choose from! Where do I even begin?

Wed, 08/06/2014 - 19:12 | 5056492 SAT 800
SAT 800's picture

How about Silver at $20/oz.?  That will look pretty good looking back from 2018.

Wed, 08/06/2014 - 20:08 | 5056648 Save_America1st
Save_America1st's picture

Yup!!!

 

keep stackin', bitchez!!!

Wed, 08/06/2014 - 15:01 | 5055255 IANAE
IANAE's picture

Presume institutions (not retail) are exiting?

Wed, 08/06/2014 - 19:13 | 5056500 SAT 800
SAT 800's picture

Retail too. Most institutions that own SPDR are just holding for retail customers.

Wed, 08/06/2014 - 15:07 | 5055272 NOTaREALmerican
NOTaREALmerican's picture

Oh jeeezzz, not this one again.   It's the Algos, it's the flows of millions of investors out the markets, the markets don't exists.  

WHERE IS MY HINDENBURG OMEN?   

Wed, 08/06/2014 - 15:34 | 5055408 Oldwood
Oldwood's picture

Do dead people know they are dead?

Wed, 08/06/2014 - 16:37 | 5055766 Bossman1967
Bossman1967's picture

No they voted for Obama and getting ready for Novembr no time to die

Wed, 08/06/2014 - 19:03 | 5056451 BringOnTheAsteroid
BringOnTheAsteroid's picture

As much as sleeping people know they are asleep.

Wed, 08/06/2014 - 15:23 | 5055344 ekm1
ekm1's picture

Aaaaaaaaaaaaaand.......where is the money going to?

Wed, 08/06/2014 - 15:33 | 5055400 NOTaREALmerican
NOTaREALmerican's picture

To the sidelines where it's turned into dry-power waiting to BtFD.  

Wed, 08/06/2014 - 15:37 | 5055421 Oldwood
Oldwood's picture

My money is setting on the sidelines waiting for something real to buy. That ain't stocks nor bonds.

Wed, 08/06/2014 - 16:38 | 5055774 hobopants
hobopants's picture

But if everbody is headed to the USD then why did it weaken?

Wed, 08/06/2014 - 19:06 | 5056467 BringOnTheAsteroid
BringOnTheAsteroid's picture

When you say headed, people have headed into the US dollar like a lotto ball heads to one particular side of the chamber.

Wed, 08/06/2014 - 19:17 | 5056509 SAT 800
SAT 800's picture

The language, "weaken" / strengthen", etc. refers to the exchange rate with other currencies. If US entities sell SPDR and buy US Bonds and Notes, it has no effect on the exchange rate.

Wed, 08/06/2014 - 19:15 | 5056505 SAT 800
SAT 800's picture

Silver is pretty real.

Wed, 08/06/2014 - 20:12 | 5056655 Save_America1st
Save_America1st's picture

don't let that dry powder sit on the sidelines too long.  Some, yes...but if you haven't started yet, then if I was you, I'd get to stackin' phyzz silver and gold now.

When everyone else's sideline "money" starts to stampeding for phyzz you aren't going to want to be caught up in that mess.  You'll want to already have your stacks nice and high. 

Maybe even have some "extra" phyzz that you can trade or sell off for other valuable assets that people might want to trade for your "playing around" phyzz, if ya know what I mean?

Wed, 08/06/2014 - 18:11 | 5056216 1stepcloser
1stepcloser's picture

Bail-ins

Wed, 08/06/2014 - 15:26 | 5055355 Goldenballz
Goldenballz's picture

what does this mean to a newbie investor??? that hedge funds and other institutions are selling their bonds? so who is buying them if this is the case?? mom and pop investors??

Wed, 08/06/2014 - 15:35 | 5055411 Oldwood
Oldwood's picture

Italians and Germans

Wed, 08/06/2014 - 16:38 | 5055770 Bossman1967
Bossman1967's picture

The dead peple

Wed, 08/06/2014 - 19:19 | 5056517 SAT 800
SAT 800's picture

The article you're commenting on refers to sales of SPDR; an ETF representing a portion of the NYSE; it has nothing to do with bonds.

Wed, 08/06/2014 - 20:22 | 5056699 theonewhowaskazu
theonewhowaskazu's picture

Considering this is ETF outflows we're talking about, its probably not hedge funds that are selling. Hedge funds tend to pick stocks, rather than invest in an index, so they have a reason to charge huge fees. So you unfortunately can't blame "hedge fund managers" for this one. In fact, it might even be mom and pop investors doing the selling. 


And yes, as several others pointed out, this is stocks, not bonds. 

Wed, 08/06/2014 - 15:33 | 5055394 catch edge ghost
catch edge ghost's picture

Creation Units, bitchez. Sell all you want.  No matter.

Wed, 08/06/2014 - 15:45 | 5055474 redux2redux
redux2redux's picture

The focus appears to be changing from:

Return on Capital

to

Return of Capital

Wed, 08/06/2014 - 15:48 | 5055494 enforcer92677
enforcer92677's picture

Seems odd we are on course to close flat.

Wed, 08/06/2014 - 16:16 | 5055674 Spungo
Spungo's picture

I don't understand how this is measured. If someone is selling the ETF, doesn't that also mean someone else is buying the ETF? How do you determine which one is inflow and which one is outflow?

Wed, 08/06/2014 - 19:22 | 5056526 SAT 800
SAT 800's picture

NO. ETF's don't work like that. The shares are redeemed for cash. the chart shows that persons, entities, have exited the ETF; their accounts are credited with cash. What you're describing is how the Commodities Futures Exchange operates; by creating a contract between a buyer and seller; this is completely different.

Wed, 08/06/2014 - 19:31 | 5055724 Youri Carma
Youri Carma's picture

ETF Backed by Swaps Offered for Investors Leery of Junk http://www.bloomberg.com/news/print/2014-08-06/etf-backed-by-swaps-offer...

Capital Group Joins BlackRock Filing for New Type of ETF http://www.bloomberg.com/news/print/2014-07-28/capital-group-joins-black...

Bond ETFs Swelling in Europe as Trading Debt Gets Tougher http://www.bloomberg.com/news/print/2014-07-25/bond-etfs-swelling-in-eur...

Wed, 08/06/2014 - 16:34 | 5055753 AdvancingTime
AdvancingTime's picture

 The really big earners in recent years have benefited greatly from the surging stock prices as much of their income has come from financial markets and gains in equities. Many people seem to think this is the hope of our future.

When you have more than you need or want to put money away for a rainy day where do you store it? If you rated people on a "wealth chart" by how many tangible assets they owned you might be shocked to find much of the wealth people own is in paper and this is full of risk. More on this subject in the article below.

http://brucewilds.blogspot.com/2014/08/where-wealth-is-held.html

 

Wed, 08/06/2014 - 17:30 | 5055995 syntaxterror
syntaxterror's picture

I've been eyeballing some bonds yielding 0.7% and some rental properties in the bay area that are 120% cash flow negative.

Great investment opportunities abound! Where does one even begin? There's a tulip farm down the street that's also tempting.

Wed, 08/06/2014 - 19:27 | 5056541 SAT 800
SAT 800's picture

If you insist on a conventional paper investment; you should investigate ABB; it's listed on the NYSE. It's a world wide supplier of big energy solutions for governments and regions; electrical distribution equipment, etc. etc. They pay a dividend and they are one of the best managed companies in the world. The more you research it the more impressed you'll be.

Wed, 08/06/2014 - 19:48 | 5056607 syntaxterror
syntaxterror's picture

I know ABB. I worked for a competitor of theirs. It is a great company for sure. Noted.

Thu, 08/07/2014 - 01:00 | 5057578 hedgiex
hedgiex's picture

ALSO...get out of mutual funds and pension funds wherever you can. Already, they are lobbying for the gating of withdrawals. There are juices left in these places that the banksters are lusting for.

Illiquidity for toxics are building and you can see this even in the TBTF Banks trading results. More of these toxics have to be warehoused particularly with second tier banks and the poor EC Banks. Sovereign Wealth Funds from creditor nations are not touching these papers. Another Lehman moment can arrive.

Smart Monies usually better advised by their HFs are paranoid on risks.

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