Four straight weekly gains, four straight weeks of inflows.

That was the story for US equities, which headed into Friday’s session near record highs achieved in the wake of a (relatively) benign inflation report.

US-focused stock ETFs and mutual funds took in $12.1 billion over the latest weekly reporting period, bringing the four-week total to more than $25 billion.

The two-week outflow seen during April’s pullback is now recouped — plus several billion.

Globally, equity funds took in $11.9 billion over the week, which is to say US funds were to thank for a fourth consecutive net inflow.

Overall, equities have seen a net $167.5 billion of inflows YTD. US stock funds account for more than half of that at nearly $87 billion.

After this week, the DM/EM split is $115.9 billion to DM funds and $51.5 billion to EM. The ETF/mutual fund split stands at $336.6 billion to ETFs and $169.1 billion from mutual funds.

As a reminder no one should need by now, the real flows story in 2024 is high grade credit. IG funds saw another inflow this week, the 29th consecutive, even as the magnitude slowed further.

High grade funds are on track to take in just under half a trillion for the year, the most on record. By a mile.