H2O AM hereby confirms that the net outflows have slowed significantly since Monday June 24th. In addition, H2O funds received some material inflows on Tuesday June 25th.
The Oil Shock Markets Refuse to Price
Markets may be under-pricing the oil shock’s macro impact. Investors are dismissing both duration and non-linearity: the longer oil prices stay elevated, the greater the cumulative drag on growth, while shocks become disproportionately more disruptive at higher price levels, with moves above $100 carrying materially larger macroeconomic consequences.