Investors yank billions out of market following Trump's tax bill win

https://www.msn.com/en-us/money/markets/investors-yank-billions-out-of-market-following-trumps-tax-bill-win/ar-BBHa31G?ocid=mmx&PC=EMMX01

As Congress moved the tax bill forward, investors pulled the highest amount out of equities funds in more than three years, suggesting some investors may see "tax cuts" as already priced in.

According to Bank of America Merrill Lynch, redemptions from equities funds and ETFs totaled $14.5 billion, the fourth largest on record, and the biggest since August, 2014, just weeks after Brexit.

For the week ending Wednesday, redemptions from bond funds overall totaled $3.2 billion, the largest in a year. High-yield bond funds were down $5.3 billion, the eighth consecutive week of outflows and the longest streak since the financial crisis in 2008.

"I think the reaction was notable this week, after the tax reform passage. The outflows were remarkable," said Jared Woodard, global market strategist at BofA. Woodard said investors sold value, small caps, and financials, all "Trump trade" sectors that should benefit from the sweeping tax bill.