Fri, Apr. 8, 10:54 AM
- "We remain a seller of risk," says the bank's Michael Hartnett, commenting on BAML's latest weekly flows report. The "Bull & Bear" index moved higher to 4.1 this week, up sharply from the March low of 0.1, and the most bullish since June of 2015.
- Equity funds posted a net inflow of $4.3B, including a $5.4B inflow into U.S. equities (European funds had net outflows of $900M). It was the first overall net inflow in three weeks.
- Also seeing strong investor interest were inflation-linked bond funds (biggest inflow in nearly one year), and emerging market bond funds (largest in almost two years).
- ETFs: CFP, TY, AOR, GMOM, GTAA, GAA, GAL, EPRO, RLY, MATH, DWAT, GIVE
- Now read: Daily State Of The Markets: Is It Time To Worry Again?
Oct. 2, 2015, 2:13 PM
- While cash levels rose to a two-year high of 20% in September, according to the America Association of Individual Investors survey, they're still below the historical average of 24%.
- Stock allocations fell four hundred basis points to 63.6%, but remain above their historical average of 60% for the 30th consecutive month.
- Bond allocations edged higher to 16.5%, a six-month high.
- ETFs: CFP, TY, GTAA, GMOM, AOR, GAA, GAL, RLY, EPRO, DBIZ, MATH, GIVE
May 18, 2015, 12:56 PM
- Either economic trends improve, prompting the Fed to hike rates, or - "more ominously," says Chief Investment Strategist Michael Hartnett - macro conditions do not recover, leading to EPS downgrades.
- His suggestion: Look to cut risk rather than maximize return.
- Josh Brown pulls this chart from the report showing a whopper of a divergence building between the direction of stocks (up) and U.S. equity flows (down). Where's the bid coming from? Buybacks?
- ETFs: CFP, CRF, VV, USA, SCHX, TY, AOA, ZF, FEX, GTAA, GMOM, AOM, AOK, AOR, JKD, EEH, GAA, GAL, RLY, EQL, EPRO, DBIZ, MATH, IWL, GIVE, ERW, FWDD, ZLRG, SYE, SBUS
May 14, 2015, 11:49 AM
- "This is when we find out if hedge funds really hedge," says BlackRock's Ewen Cameron Watt, musing on the impact of coming rate hikes. “Some of us feel like the informed citizens of Pompeii around 79 AD: we are grateful for the lovely sea views but worry about the volcano in the background.”
- Watt takes note of rising correlations this year, with the global bond market "trading as one," and being matched by moves in equities. This also impacts real estate, credit markets, and commodities, he says.
- BlackRock sees correlations rising even further as the Fed hikes, with the chance of both bonds and stocks heading south at the same time (not a common event since the "Greenspan put" came into being).
- Source: WSJ
- ETFs: CFP, TY, AOA, GTAA, GMOM, AOM, AOR, AOK, GAA, GAL, RLY, EPRO, DBIZ, MATH, GIVE
Cornerstone Progressive Return Fund is a closed-end management investment company. The Fund's investment objective is to provide total return.
Industry: Closed-End Fund - Equity
Country: United States
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