BofA's weekly flow report notes USD 39.5bln into cash, USD 56.4bln into stocks, USD 31.3bln into bonds, USD 0.3bln into gold and USD 0.5bln into crypto

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BULL/BEAR: BofA’s Bull & Bear Indicator was unchanged at 9.5, an “extreme bull” reading and in “sell” territory after the signal was triggered in May. Strong equity and tech inflows and tighter HY and AT1 spreads were offset by weaker global stock-market breadth. BofA said extreme bullish positioning argues for reducing risk exposure. CASH/GOLD: Cash saw USD 39.5bln of inflows, taking money-market fund assets to a record USD 7.9tln. Gold and precious-metals funds saw USD 0.3bln of inflows, resuming inflows. Crypto saw USD 0.5bln of inflows. EQUITIES: BofA notes that stocks saw USD 56.4bln of inflows this week, the fourth-largest inflow YTD, comprising USD 62.1bln into ETFs and USD 5.8bln of outflows from mutual funds. DM: US equities saw USD 25.1bln of inflows, resuming inflows. Japan equities saw USD 1.2bln of inflows, a fifth consecutive week of inflows. European equities saw USD 0.4bln of outflows, a 13th consecutive week of outflows. EM: EM equities saw USD 14.0bln of inflows,

DYAX Investor Sentiment

Bullish (Long) 37% · Bearish (Short) 63%

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