FYI:
.Total long-term mutual fund flows continued their positive track record for the two weeks ended March 6, marking the longest streak of net inflows since the start of 2017. Exactly $2 billion of net inflows were registered in the past two weeks, largely due to strong demand for bonds.
.Equities again experienced outflows for the two weeks ended March 6, a total of $11.3 billion, up from $5.5 billion in the prior two weeks.
.Bonds enjoyed strong inflows and have been posting positive flows for six consecutive weeks, with taxable bonds particularly strong.
.Uncertainty in the Brexit saga is likely to extend until the last day before Britain is expected to leave the European Union on March 29. With Parliament rejecting an exit without a deal, the two possibilities are the acceptance of the deal Prime Minister Theresa May proposed or an extension of the exit day. The European Union, tired of the never-ending brinkmanship, said an extension would be granted only if May has a clear plan how to break the impasse.
.The European Central Bank cut its growth forecast and unveiled a new lending program in the hope lenders will boost the number of loans to consumers and businesses. The feeble European recovery is at risk and the ECB is desperate to put economic growth back on track, as its 2% inflation target proves increasingly elusive.
.With U.S. President Donald Trump making clear he is in no rush to sign a deal with China, expectations for a trade agreement between the world’s biggest economies is expected to come to fruition in April if all goes according to plan.
.The February jobs report largely disappointed economists with only 20,000 jobs added compared with 180,000 expected. To be sure, in the previous two months, the U.S. economy added around 650,000 jobs combined.
Regards,
Ted
http://mutualfunds.com/news/2019/03/19/mutual-funds-scorecard-march-19-edition/
