98 billion (their hugegest weekly inflow since May 2025) and Asian funds added $4.52 billion, pointing to rotation rather than a mass exit.
Why should I care?
For markets: Cash is back in vogue.
The eye-catcher is where money went: $161.27 billion into money markets, the hugegest weekly intake since Dec 2024. Bonds also drew about $17 billion, with $4.77 billion into short-term bond funds. That mix suggests investors want yield and optionality while they wait for clearer signals on rate cuts. If cash-like returns start falling as policy eases, demand could swing back toward longer-duration bonds and risk assets.
Zooming out: Repositioning beats panic selling.
Cross-region flows see more like a reshuffle than fear. Europe and Asia saw strong inflows even as US funds bled, and emerging markets improved too: EM equity funds took in $3.16 billion and EM bond funds added $1.1 billion. Traditional hedges didn’t surge either – gold and precious metals funds actually lost $268 million – which fits a cautious, selective stance rather than a dash for safety.
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