I was puzzled why Mr Rosenborg would comment on this when the volume over the past week as low. But it is pretty bad eventually if volume doesn’t picked up even if we end up with more up days:
Stock funds suffered a net outflow of $5.6 billion last week — $5.2 billion from U.S. funds and $400 million was withdrawn from foreign equity funds. True to form, bond funds took in a net $6.8 billion after $7.8 billion of net inflow the week before. It is fascinating to see where this so-called ‘mountain of money’ the equity bulls talk about incessantly is being put to work seeing as money market funds saw redemptions of $39.7 billion last week. They are going into bonds.
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