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Bonanzas, Borrowing Binges, And Cash Off The Sidelines
Investment grade credit funds took in another $5.17 billion in the week through Wednesday, the latest Lipper data shows.
This is just par for the course. Demand for high-grade debt has been nothing short of insatiable in the months since the Fed announced its intention to backstop the US corporate credit market.
This week's haul marks the 23rd consecutive inflow, and brings the total since mid-April to nearly $150 billion.
After shedding $769 million in the previous week, junk funds swung t
$4.42 trillion, that’s the fabled “money on the sidelines” that is so pushed by sell side analysts as a catalyst for the next run higher. Funny thing is, $4.42 trilion is not even that much money any longer in the big schema of things. What, that’s about 10% of US equity valuation? hahaha. So what.
What I want to know is when is the Fed going to give shares of equitiy ETFs to retail investors.
With so much money sloshing around, you wonder how there can be any poor people left. Oh wait…