There's not enough money on the sidelines to sustain the S&P 500 rally: BCA
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Last week saw a third week of equity selling - BofA
July 30, 2024 9:43 AM EDTAnalysts at Bank of America noted a third week of equity selling in its latest equity client flow trends note on Tuesday, stating that institutional clients continue to sell.
"Last week, during which the S&P 500 was -0.8%, BofA Securities clients were net sellers of US equities (-$3.3B) for the third straight week," wrote the bank. "Sales continued to be driven by single stocks, while ETFs saw... More
