BAML: S&P: Big Inflows: FXWW

From the FXWW Chatroom: BofAML’s Equity & Quant Strategy team note clients end 2Q with a bang, clients were net buyers of US equities for the first time in 4 weeks, the biggest inflows since February. Flows into ETFs picked up and sales of single stocks slowed. Net buying was led by both private and institutional clients, who had sold stocks the previous week. Hedge funds were the sole net sellers after buying stocks the prior two weeks. Net buying was chiefly in large caps, though small caps also saw inflows. Health Care and Staples stocks saw the biggest inflows last week, while Energy and Tech stocks saw the biggest net sales. Buybacks by corporate clients were down 5% in 2Q from 1Q, and YTD are their lowest of any year since 2013, but picked up slightly from the prior week’s levels.

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