Regional banks approaching the lows.. Jay Pow needs a new crisis to pump liquidity pic.twitter.com/r1IAPcr29V
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) April 4, 2023
BofA witnessed the biggest week of equity outflows since October
Despite the ongoing rally in U.S. equities with the S&P 500 up nearly 4% since last Monday (27/03), Bank of America’s clients were selling stocks.
Analysts at the firm highlight $3.2 billion of outflows from U.S. equities, marking the first net sale by the broker’s clients in five weeks. Investors were mostly selling single stocks, the analysts wrote in a regular weekly note on client flow trends.
“Clients sold equities across all three size segments (small/mid/large),” they said.
While hedge funds were net buyers of equities, institutional and retail clients led outflows. The biggest sales were recorded in the Communication Services sector, which marked the second biggest outflows since 2008. Similarly, clients were also selling Tech stocks.
Tech P/E now trades at 38% premium to S&P pic.twitter.com/FJ0fl61ZNA
— Cheddar Flow (@CheddarFlow) April 5, 2023
Four big executives selling at $AAPL including Tim Cook, isn't bullish. pic.twitter.com/NzXnsNjpki
— Mat Roiss – NVDA RocketBear🚀🐻 (@InvestRoiss) April 5, 2023
Comrades, Have you checked the interest rate on your credit cards lately?
Probably nothing. pic.twitter.com/alBRmMF22a
— Jonesy (@HedgeyeDJ) April 4, 2023
Gold is the king pic.twitter.com/VAXwdtAktL
— Russian Market (@runews) April 4, 2023