With mud season keeping the conflict in Ukraine deadlocked and the next round of major central bank meetings still a fortnight away, investors turned their attention to taxes, corporate earnings and China’s economy during the third week of April.
The second week of April offered investors two data points, the latest US jobs report and the inflation numbers for Match, that they hoped would make the case for a pause in the Federal Reserve’s tightening cycle. Although headline inflation in March came in at a one-year low and the number of new non-farm jobs created was the least in over two years, investors were left hoping that the Fed will focus on the trends rather than the actual, positive numbers.
Join EPFR’s Steve Muzzlewhite for his weekly investor sentiment update. This week, we cover equity fund flows, bond flows and money market fund flows.
As March 2023 comes to a close, Steve Muzzlewhite shares the latest investor sentiment trends, focusing on equity funds, bond funds, money market, and more.
The third month of 2023 started with investors pulling another $5 billion out of EPFR-tracked US Equity Funds, extending that group’s longest outflow streak since 2Q20, as stronger-than-expected consumer spending and a resilient labor market undermined the case for an early end to the current US rate hiking cycle.
Retail efforts to squeeze real and perceived institutional short positions dominated the headlines for the second week running in early February. EPFR-tracked Silver Funds were carried along for the ride, setting a new inflow record during a week when retail investors switched their attention from GameStop shares and pushed the price of the precious metal up to an eight-year high.