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Actionable news in QQQ: PowerShares QQQ Trust, Series 1,

Everyone Is Selling: Largest Outflow From Stock Funds Since September 2015

In what is the latest confirmation that nobody believes the "rally", the latest fund flow data from EPFR showed that US mutual fund and ETF flows turned sharply negative for stocks and high yield this past week (ending on May 4th). The outflow from stocks was $16.9BN following a $1.29bn inflow in the prior week. This was the biggest outflow from stocks since the Sep'15 capitulation on back of China devaluation.

In credit land it was likewise a rush into safety, with what BofA dubs a "massive preference for quality over junk in credit continues: largest IG bond inflows in 13 months contrasts with largest HY bond outflows in 3 months":

High yield...


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