Maybe there is more US inflation.......>

US TSYS/TIPS: Maybe there is more US inflation concern? That might be possible,

as the BA/ML "Flow Show" noted said the market was "feasting on TIPS" in the

Nov. 16-21st week, as it was the "third highest week of TIPS fund inflows ever,"

with "$9.8bn in HY outflows over the past 4 weeks but EM debt still seeing

inflows."

- It cited there was the "largest inflows into TIPS since Nov'16 ($1.2bn)"

- It also noted there have been "48 straight weeks of IG bond fund inflows

($4.3bn)"

- And it was "4th week of HY bond fund outflows ($2.0bn)"

- Meanwhile there have been "Inflows 41 of past 43 weeks EM debt ($0.9bn)"

- "Small muni funds inflows ($0.4bn)"

- "Small outflows to govt/Tsy funds ($0.01bn)."

- "Modest bank loan fund outflows ($0.5bn)