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
Newsquawk Staff ·
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, resuming inflows. China equities saw USD 9.0bln of inflows, the largest since December 2025.
- By sector: Tech saw USD 18.8bln of inflows and is on track for a record USD 183bln inflow in 2026; financials saw USD 2.4bln, the largest since January 2026; materials USD 1.7bln, healthcare USD 1.5bln, communication services USD 0.6bln, real estate USD 0.5bln, utilities USD 0.4bln, and energy and consumer funds USD 0.1bln each.
- By style: US large cap saw USD 9.2bln of inflows and US small cap USD 3.3bln; US growth saw USD 1.2bln of outflows and US value USD 0.2bln.
BONDS
- BofA says bonds have now seen inflows for 63 straight weeks, with USD 31.3bln of inflows this week.
- TIPS saw USD 0.4bln of inflows, 23rd week of inflows.
- IG bonds saw USD 16.0bln of inflows, 14th week of inflows.
- Govt/Tsy bonds saw USD 8.4bln of inflows, second straight week of inflows.
- HY bonds saw USD 2.0bln of inflows, fourth week of inflows.
- Bank loans saw USD 1.5bln of inflows, a fifth week and the largest inflows since February 2025.
- EM debt saw USD 0.6bln of inflows, a fourth consecutive week of inflows.
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