美银的机构客户在各群体中买入力度最大，这是他们五周以来的首次净买入，也是自2022年11月以来的最大资金流入。Bank of America's institutional clients have the greatest buying intensity among various groups, marking their first net buying in five weeks and the largest fund inflow since November 2022; hedge fund clients have been net buying stocks for the third consecutive week; retail investors have been selling stocks for the second consecutive week.
Last week, the Federal Reserve started a significant 50 basis point rate cut. Jill Carey Hall, a quant strategist at Bank of America, and her team pointed out in their latest research report on Tuesday that the bank's clients aggressively bought US stocks, netting $6.9 billion, the largest inflow of funds since October 2022 and the third largest inflow of funds in Bank of America's historical data. The so-called 'smart money' inflow is particularly evident.
By client category:
Bank of America's institutional clients had the largest buying intensity among all groups, their first net buy in five weeks and the largest inflow of funds since November 2022.Although corporate buybacks slowed down last week, they remained strong, continuing to be above seasonal levels. The percentage of corporate buybacks to the S&P 500 market cap is expected to reach the highest level in Bank of America's data records.
Bank of America's hedge fund clients have been net buyers of stocks for the third consecutive week.
While Bank of America's private clients, or individual investors, have sold stocks for the second consecutive week.
By industry division:
In the US stock market's 11 sectors, stocks in 8 sectors were net bought.
Benefiting from lower interest rate pressure, the technology, non-essential consumer goods, and utility sectors attracted the largest buying interest. The utility sector saw the largest weekly inflow of funds since 2008. The non-essential consumer goods sector recorded the second-largest inflow of funds in Bank of America's historical data records, driven by institutional buying.
The financial, real estate, and energy sectors experienced outflows, with the real estate sector facing five consecutive weeks of selling, making it the sector with the longest continuous outflow of funds among the 11 sectors of the S&P 500 index.
Bank of America also mentioned that its clients purchased individual stocks and ETFs, with the fund inflow of single stocks hitting a record high. Stocks of all market cap sizes attracted buyers.
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