Interesting data (evidence?) that there was some money sitting on the sidelines waiting to be invested.
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Equity funds have this week seen the strongest inflows for more than five years as global shares surged and a compromise deal on the US fiscal cliff boosted investor confidence.
Net inflows into equity funds monitored by data provider EPFR hit $22.2 billion in the week to January 9th – the highest since September 2007 and the second highest since comparable data began in 1996. Emerging market and world funds, which had record inflows, drove much of the expansion.
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We've discussed before -- that like anything - in order to go UP we have to have more buyers than sellers... and when new money floods the market - they're buying. We'll see how long and how much...
