Bank of America weekly flows report notes the biggest inflow to equities in 35 weeks, but European equities seen 40th consecutive week of outflows

Bull Bear

• Its Bull & Bear Indicator rises to 0.4 from 0.0, its first rise in 9 weeks, driven by improving bonds and credit flows, and equity market breadth over the past two weeks


• The indicator is at its highest level since September 2022, telling us that "fair chunk of bear market rally behind us".

Equities:

• Total USD 22.9bln inflows


• US sees inflows resume, of USD 23.9bln


• Japan saw outflows over the last 3 weeks (USD 2.4bln)


• Europe has now seen outflows for the last 40 weeks (USD 2.3bln in the latest week)


• By style, BofA says inflows were seen for US large caps (of USD 18.0bln), US small caps (USD 2.2bln), US value (USD 0.5bln), US growth (USD 0.4bln).


• By sector, the bank notes inflows into tech (of USD 1.0bln), healthcare (USD 0.6bln), materials (USD 0.5bln), financials (USD 0.3bln), consumers (USD 0.3bln), energy (USD 76mln); outflows were seen in real estate (USD 31mln), utilities (USD 45mln), comminication services (USD 0.1bln).

Bonds:

• IG bond outflows resume (USD 1.3bln)


• HY Bond inflows past 4 weeks (USD 3.7bln)


• EM Debt outflows past 13 weeks (USD 0.3bln)


• Munis 1st outflow in 15 weeks (USD 2.1bln)


• Govt/Tsy inflows past 2 weeks (USD 1.2bln)


• TIPS outflows past 12 weeks (USD 0.4bln)


• Bank loan outflows past 2 weeks (USD 0.7bln)

18 Nov 2022 - 07:33- Equities- Source: BofA