Last week fund flows out of emerging markets reached -$6.5Bn for the second straight week, and now we have seen a record 15 straight weeks of outflows from EM.
That is extraordinary.
YTD outflows from EM equity funds is -$18.9Bn, which is more than all of 2013. Of the 6.5Bn out, over 75% was in diversified GEM funds as opposed to country specific.
Redemptions from ETFs was -$3.4Bn.
Think EM is oversold?[/auth]