Money Market Fund Flows and Probability of Recession Investors move to safe assets by raising their cash holdings, like 2007/2008. This chart suggests that the probability of a recession in the next 12 months is high. Image: Goldman Sachs Global Investment Research
Cumulative Flows into U.S. Domiciled Mutual Funds and ETFs Are money-market funds flows a contrarian indicator? Image: Goldman Sachs Global Investment Research
Gold Fund Flows Investors are flooding into gold as fears of a global slowdown mount. Image: BofA Merrill Lynch
U.S. Government Bond Fund Flows Over the last six months, U.S. government bond fund flows have been the largest since 1985. Image: Goldman Sachs Global Investment Research
Money Market Fund Assets Weekly cash inflows reached $40.4 billion, suggesting continued momentum, though this raises the question of whether a cash bubble may be forming. Image: BofA Global Investment Strategy
U.S. Money Market Fund Assets Following a Fed rate cut, U.S. money market funds typically experience outflows 12 months later as investors adjust their portfolios and manage risk in response to changing interest rates and market conditions. Image: Goldman Sachs Global Investment Research
Money Market Assets Under Management Following a Fed rate cut, money market funds typically experience outflows 12 months later as investors adapt portfolios and manage risk exposure in response to shifting interest rates and market conditions. Image: BofA Global Investment Strategy
Money Market Fund Assets vs. Fed Funds Target Rate Money market funds often experience outflows 12 months after the initial rate cut. This occurs as investors reallocate their investments and adjust their risk exposure in response to fluctuations in interest rates and market conditions. Image: BofA Global Fund Manager Survey
Cross-Asset Valuation for the U.S. On an absolute basis, equities look expensive by historical standards, but relative valuations appear attractive, as free cash flow yield and ERP look cheap. Image: Goldman Sachs Global Investment Research
Passive Over Active Funds History suggests that investor outflows from active funds are smallest after periods of high policy uncertainty. Image: Goldman Sachs Global Investment Research