📍SPY & QQQ recorded -$64B outflow in 3 months

📌 This is the largest outflow recorded over a 90-day period. Marking a strong reversal from +$50B inflow in November.

In terms of AUM, the 3-month outflow of -5% is the highest since Q1/2023. The peak outflow percentage in the decade was -8% in April 2018.

📌 This scale is nearly double the peak outflow of the decade (2018). Even COVID 2020 or the sell-off in 03-04/2025 has never witnessed such a large outflow.

📌$SPY is an ETF that mimics the S&P 500 index (the 500 largest companies in the U.S.), while $QQQ is an ETF that follows the Nasdaq 100, focusing on the technology and growth sectors.

Money is retreating to the sidelines; perhaps we will soon witness a significant wave of DXY as all asset classes decline and the Fed's hawkish stance in the recent FOMC.