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Meanwhile, On The Flows Front…
Equities stumbled a bit in recent days and Wall Street was on track to notch its first weekly decline in seven. Blame pre-election jitters in the US, lingering trepidation about the Chinese economy and a fairly sharp rise in Treasury yields.
Despite the anxiety, folks were still buying stocks. On net, anyway.
Global stock funds took in $4 billion over the latest weekly reporting period, according to EPFR. That was the smallest weekly inflow since a redemption early last month.
The four-week
Agreed on the paradox. Too bad there’s only one hammer for the independent body of bureaucrats…
High rates bad for residential real estate and auto sales/consumption. Sorry not stimulating consumption on net.