BoA: Clients Are Bullish On Stocks But Not Euphoric: Passive Momentum Continues

Bank of America Merrill Lynch’s weekly Flow Show report, which is put together by the bank’s Chief Investment Strategist Michael Hartnett, has picked up an interesting trend in private investor flows this year. BoA: Investors like stocks but don’t love them According to the report, sentiment among Bank of America’s private clients is positive, but far from euphoric as while equity allocations are high, investors were generally net sellers of stocks in 2016, preferring to take risk in fixed income rather than equities. At the end of the first trading week of January, $1.2 trillion of private client assets based at…