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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Doubleguns's picture

Red neck for hey yall watch this!!!

gh0atrider's picture

ray ray ray Satoshi!  We love you!

wallstreetaposteriori's picture

Fuck Fonestar and Fuck Satoshi.  

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.

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



disabledvet's picture

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

Theosebes Goodfellow's picture

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

Spitzer's picture

Herd them into bonds.

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.

in4mayshun's picture

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

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. 

Sudden Debt's picture

4 dollar silver....

hobopants's picture

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

disabledvet's picture

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

SAT 800's picture

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

Save_America1st's picture

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

TheRideNeverEnds's picture

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

syntaxterror's picture

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

SAT 800's picture

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

Save_America1st's picture



keep stackin', bitchez!!!

IANAE's picture

Presume institutions (not retail) are exiting?

SAT 800's picture

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

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.  


Oldwood's picture

Do dead people know they are dead?

Bossman1967's picture

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

BringOnTheAsteroid's picture

As much as sleeping people know they are asleep.

ekm1's picture

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

NOTaREALmerican's picture

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

Oldwood's picture

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

hobopants's picture

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

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.

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.

SAT 800's picture

Silver is pretty real.

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?

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??

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.

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. 

catch edge ghost's picture

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

redux2redux's picture

The focus appears to be changing from:

Return on Capital


Return of Capital

enforcer92677's picture

Seems odd we are on course to close flat.

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?

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.

Youri Carma's picture

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