'You know it's a bubble when everyone starts telling you it’s not a bubble'
Money market funds attracted their largest inflows in four weeks at $46.7 billion, while investors flocked to purchase the election dips in India and Mexico, Bank of America said in a note.
Since the start of the year, money market funds are tracking $620 billion on an annualized basis, and global stocks are annualizing $430 billion, the second highest on record."70% of portfolio I'm clipping 5% cash, the rest I’m just all-in on YOLO AI."Meanwhile, IG bonds are annualizing a record $400 billion, and tech $43 billion, marking the fourth largest on record and sector flow winner in all of the past four years.
Investors bought the election dip in India, leading to the largest inflow on record at $1.2 billion, and in Mexico, marking the largest inflow since November 2016 at $300 million. On a regional basis, the US had its seventh week of inflows at $4.6 billion, while Europe faced its third week of outflows at $1 billion. Stocks in the emerging markets resumed inflows at $3.8 billion, and Japan experienced its fourth week of outflows at $800 million.
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