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Risky Asset Outflows Surge Again As "Up-In-Quality" Rotation Accelerates
Market weakness, as BofAML reports, has taken a toll on mutual fund and ETF flows, with stocks (-$9.56bn), HY bonds (-$1.56bn) and levered loans (-$1.17bn) all reporting significant outflows last week (ending on October 1st). There is a clear "up in quality" and "up in capital structure" rotation among investors as investment grade bonds saw huge inflows. Notably, most PIMCO funds, including the Total Return Funds, do not report flows weekly, and hence the bulk of this outflow was not reflected in the last week’s data. In a statement PIMCO said that outflows from the Total Return Fund totaled $23.5bn in September, so we will have to see just where that outflow hit.
Risk-off...
As is clear, everything 'risky' and lower in capital structure is unwinding and piling into investment grade debt...
Charts: BofAML
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It's Friday night fuckface. Enough of this shit. I want more ebola shit jokes.
It only gets bitter from here...
ebola walked into a dallas hospital and said: i just flew in from nigeria and boy are my genomes tired!
ebola walked into the dallas hospital and said: i had explosive diarrhea over the lone shart state.
ebola: thank you very much. i'll be here all week, er, weak.
I'm putting together an Ebola Concert fundraiser for West Africans to be broacast live from Liberia... Sting is going to sing "Sending out an SOS", "Message in a Bottle" and finish up with "Don't stand so close to me"...
Paul McCartney and Stevie Wonder's new charity single "Ebola and Diarrhea" is expected to be released in the US this weekend.
"I want more ebola shit jokes."
It's there if you look for it. Come on. Risky outflows! Anyone? Is this on?
Ebola walks into the Dallas area hospital and says, is that a cucumber in your hazmat suit or are you just happy to see me?
Woman: "I'm not interested in casual sex."
Ebola: "Alright, you can keep your hazmat suit on."
a male ebola spots a female ebola at a D.C bar and says "I don't know how to work this Tinder thing so if you like me just have your host vomit barf out his ass"
Ebola walks into a library and asks for a book on how to deal with explosive diarrhea. The librarian says "well, I can give you this one, but half the pages are missing."
tremendous
Her name was Lola, she had Ebola
She was a fellow with no hair and a dress that she would wear.
http://www.youtube.com/watch?v=NAEA1KzDynI
Thought he meant Lola joke, sorry.
Harbanger walks into a bar. Everyone leaves.
Come on Harbanger, come out of the cold for a night. Which celebrity would you most want to see barfing their liver out their ass? especially if it werre on live tv.
I would go with Al Sharpton or Alan Greenspan just because I think they would look exactly the same afterwards.
When I get ebola, I'm going to shit all over my ammo stockpiles and sell it all online as ebola laced babykiller deathray ammo.
Who knows, maybe the ebola shit-laced boolits will be too dangerous for bloodyshitstained civilian hands to possses and get banned.
Look, you tasteless commentators, ebola is nothing to sneeze at.
Budumpah!
(Sound of cymbals crashing)
Hi, my name is Rense Bosoko and I'm the Executor for the estate of one of the partners who created ZMAPP, now deceased. Your name is in his will and it turns out he went to school with you and always admired the kindness you showed to people and puppy dogs.
He is turning his substantial interests in ZMAPP over to you knowing the type of person you are (currently valued at 3.5 million US dollars) and all I need is for you to send a money order of a paltry five thousand US dollars to my office to process the official Liberian government paperwork in order to transfer ownership to you.
Make it out to:
Rense Bosoko Esq, 666 Ebola Lane, Monrovia, Liberia.
Zero Wedge
JPM breach compromises 85 million people and the stock is up 2.5%.
That pretty much sums it up. Move along. Nothing to see here.
One ebola virus to the other: "You can jump the fence but if you get into the building they are likely to mistake you for the President. Leave the golf bag outside."
What do Netflix and Ebola have in common? They both stream shit.
ebola, paul krugman, and a monkey walk into a bar. the bartender says hey ebola, where did you get that stupid monkey? ebola replied: the princeton economics department.
Ebolanomics!
when the shit hits the fan and is scattered all around, that's ebola.
when your eyes start to bleed because of all that you see, that's ebola.
when you try to hide but it finds you on alive, that's ebola.
so as you can tell, it is not a tough sell, the future of the world is clear to see it will be covered in shit up to your knees until you lay down when it will cover your eyes, that's ebola.
Ebola walks in to a restaurant sits down and looks at the menu and orders ebola soup.
Agree.
OCC and FDIC have already warned on subprime auto lending
HY beginning to crack wide
surge in $US will attract capital ... some flowing to treasuries
Got Ts?