Madness: Stocks Suffer First Outflow Of 2021

It finally happened. After an uninterrupted streak of weekly inflows that saw more than $776 billion plowed into global equity funds over nine months, investors pulled money from stocks. The $24.2 billion exodus was the first weekly outflow of 2021 (figure below) and came amid concerns over the fallout from Evergrande's demise and jitters around the outlook for Fed policy. The previous reporting period witnessed one of the year's largest inflows, as investors poured more than $51 billion in