The Great Rotation… Into Poland?

Inflows into equity funds around the world have been presented as the driver of the next leg higher in this ‘secular’ bull market. As liquidity slooshes around the world (as David Stockman so eloquently described) there is nothing but hot money chasing what ‘worked’ not what will work… or, as investors have now been conditioned to do, BTFD. US asset gatherers’ dissonance is high as they know the pillars of their ‘just keep buying’ thesis remain wobbly at best (and broken in all honesty) but flows (aside from the fact that retail appears to have just folded) are holding hope ransom for now (oh and the money-on-the-sidelines idiocy meme – buyer meet seller). So what nation saw the largest relative equity fund inflows in the world?



and why did Poland see the flows? We assume its the 15% plunge on Taper talk that ran people back into BTFD…


Good luck with that…


Charts: Deutsche Bank and Bloomberg


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