J.P.Morgan Flag Tentative Signs That Outflows Have Stopped

J.P.Morgan writes “we had noted two weeks ago the significant outflows from bond funds that have taken place since the start of the year, totalling around $60bn during Q122. We argued at the time that these episodes of significant bond fund outflows, such as those, Q313, Q418 and Q120, have typically not lasted for more than a quarter outside of crisis periods such as the Lehman crisis, and projected a modestly positive bond fund flow for 2022 as a whole of around $200bn. Looking at the data for daily and weekly reporting funds for April to-date, there are some tentative signs that outflows stopped in the current month consistent with our projection, though a fuller picture will emerge as we get more data including also monthly reporting funds in a few weeks time.”