Again evident that the first day of the new week goes "Big Switch" from bonds to shares, which was the theme from the beginning of 2011. Yesterday the MSCI World rose by another 0.5% to dinner, fixing a YTD increase of 4.3%. For comparison, bond yields rising sharply around December 31. Recently, the major stock indexes broke through key levels: Dow took 12000 (a minimum of 2009 was below 6,500), S & P 500 crossed 1300 (in March 2009 it fell to 676) and the FTSE 100 higher than 6000 (with a minimum of 2009 in 3500). Last year, Equity fund outflows were at $ 28.8 billion (according to the Investment Company Institute), while bond funds had inflows of $ 246 billion. This course has changed dramatically in the last couple of months. In the U.S., notably in care of the municipal bond business last month. Retail investors in Britain, which are generally avoided the shares in the last couple of years, is now fully switched to buying growth stocks. In Europe, the index of investor sentiment has reached the highest level since the summer of 2007. Right now, the shares can not behave incorrectly, and bonds - is true.
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