Goldman Sachs Weekly Fund Flows: Long-Duration US Treasury Fund Flows in Focus
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Abstract
Goldman Sachs' weekly fund-flow report (week ended August 26, 2026) shows inflows into both equity and fixed income funds: global equity funds absorbed +$9bn (versus +$40bn the prior week) and bond funds +$18.84bn, while money-market fund assets rose +$9bn. Within developed markets, US equity funds drove outflows (-$4.39bn) while Japan attracted +$2.67bn; Western Europe saw -$0.15bn and UK-dedicated funds -$0.33bn; EM equity funds gained +$0.45bn, led by global EM benchmark funds (+$2.27bn), against outflows from Korea (-$1.29bn) and mainland China (-$0.38bn). By sector, technology drew the largest inflow (+$7.53bn) and financials the largest outflow (-$2.32bn); energy (-$0.56bn) and consumer (-$1.07bn) also saw notable redemptions. Fixed income was supported across categories—government +$4.25bn, municipals +$2.29bn, short-duration +$9.03bn, inflation-protected +$0.16bn—while high yield slipped to -$0.72bn. The Chart of the Week: long-duration US Treasury funds recorded a small outflow after several weeks of supportive inflows. EM hard-currency and local-currency bond funds took in +$0.52bn and +$2.34bn respectively. Cross-currency flows were broadly positive, with USD (+$7.72bn), CNY (+$1.56bn) and EUR (+$1.54bn) showing the strongest net demand. On a four-week cumulative basis: equity funds $98.30bn, fixed income $87.80bn (EM $7.78bn), money markets $87.09bn and cross-border FX flows $96.98bn.