Investors yank billions out of market following Trump's tax bill win
As Congress voted on the tax bill this week, investors pulled $14.5 billion from equities funds and ETFs, the fourth largest on record and the most since the weeks after Brexit, according to Bank of America Merrill Lynch.Bond funds saw their biggest outflows in a year, with high-yield funds losing $5.3 billion in an eighth week of losses.The BofAML strategists said the trades in the week ended Wednesday did not translate into "Trump trade," with funds exiting financials, small-caps and value funds, all sectors that should benefit from lower taxes. But they say that supports a bullish trade for January 2018.
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