Outflows from emerging markets have exceeded inflows since the Fed's June announcement; Bloomberg calculates that emerging-market stocks have lost more than $1 trillion in value; emerging-market currencies are depreciating rapidly.
It's amazing how quickly cash reserves can disappear when outflows exceed inflows.
At their year-to-date pace, bond funds will post an inflow in 2007 far exceeding the inflow in the four years from 2003 through 2006 combined, during which time bond prices have mostly traded in a narrow range.
Even the most conservative estimates suggest that the outflow of funds linked to money-laundering, corruption, tax evasion and avoidance and deliberately mispriced commercial transactions exceeds total inflows of aid.
Groundwater outflow to the adjacent farmlands was greatest in Cell 2 and substantially exceeded groundwater inflow.
"While it is not possible to say so with certainty, the trend lines within this latest five-year period suggest that return flow to Mexico probably exceeded the inflow from Mexico during the past year or two".
Long bond ETFs have issued $7.2 billion 177% of assets), long commodity ETFs have issued $5.3 billion 166% of assets), and short ETFs have issued $2.6 billion 1088% of assets the year-to-date inflow exceeds the amount of assets at the beginning of this year).
2015 will be the first year since the 1980s to see capital outflows from the emerging markets exceed capital inflows.
In such systems, network congestion arises when the inflow demand exceeds the throughput capacity of the network.
