PremiumTrump Year-End Rally 2.0: Here's The 5 Things That Goldman's Flows Guru Is Watching
In Trump 1.0, Goldman Sachs flow of funds guru, Scott Rubner, notes that passive inflows into US equities were all the rage.
US Equity flows saw sizeable inflows for 6 months until April 2017.
The current rolling 6-month US passive flows are 3.2% of AUM.
Source: Goldman Sachs
On $12 Trillion of assets, this could imply $540 Billion worth of post-election demand to match the 2016 pace.
There has been >$12 Billion inflows EACH DAY for the past week. I haven’t seen these figures since 2016.
With all that mind, Rubner notes that all the incoming questions had a similar tone:
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