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Expand chart
Data: Investment Company Institute; Note: Nov. 2019 and Dec. 2019 data are estimates; Chart: Axios Visuals

The historic outflow from equity funds this year likely has a lot to do with the aging demographics of the U.S., analysts at the Investment Company Institute say.

What it means: Shelly Antoniewicz, ICI's senior director of industry and financial analysis, says that the record flows out of U.S. and global equity funds and into bond and money market funds largely reflect older Americans' desire for safety.

  • That desire is partially motivated by "uncertainty with trade and tariffs," but it's also about many baby boomers nearing retirement and shifting from stocks to bonds.
  • "When I map out the percentage of the population 65 and over with bond fund flows ... they’re rising in tandem," she tells Axios.

Details: As of the week ending Dec. 4, a record $186.5 billion has been pulled out of equity ETFs and mutual funds.

  • Equity ETFs have seen net inflows, while mutual funds have posted enormous outflows.

Go deeper: How private equity could disrupt the 2020 election

Go deeper

Updated 1 hour ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: Omicron fuels the case for COVID boosters — Omicron variant lifts Moderna's stock price — CDC strengthens COVID booster recommendation.
  2. Politics: Biden says fight against Omicron won't include "shutdowns or lockdowns."
  3. States: Federal court blocks Biden's vaccine mandate for health workers in 10 states — NYC urges masks indoors "at all times" regardless of vaccination status — New York declares state of emergency amid concerns over Omicron.
  4. World: Omicron adds urgency to vaccinating worldWHO warns against travel bans on southern African countries — First North American Omicron cases identified in Canada.
  5. Variant tracker: Where different strains are spreading.
Kendall Baker, author of Sports
Updated 1 hour ago - Sports

College football gone mad

Former Notre Dame coach Brian Kelly walks in front of his players. Photo: David Madison/Getty Images

In the span of two days, the head coaches of two of the biggest college football programs in America have jumped ship, wooed by even greater challenges — and the almighty dollar.

Driving the news: Lincoln Riley is ditching Oklahoma for USC in a deal reportedly worth $110 million. LSU poached Brian Kelly from Notre Dame with a reported 10-year, $100 million contract.

Media startups anxiously await BuzzFeed’s stock market debut

Illustration: Sarah Grillo/Axios

Digital media companies considering going public are watching BuzzFeed's expected stock market debut next week to see how investors will respond.

Why it matters: A slowdown in SPACs (special purpose acquisition companies) earlier this year pushed some digital media companies that were considering going public via SPAC IPOs away from the idea, such as Vice.