Last week Institutional clients were net sellers of US stocks for the second week in a row, according to Bank of America Merrill Lynch’s Equity Client Flow Trends weekly research report. Last week, a week during which the S&P 500 rallied 2.8% Bank of America’s clients were net sellers of stocks, selling a total of $0.7 billion. Institutional clients led the selling for the eight week in a row while private clients were also small net sellers for the second week in a row. Selling was broad-based although small caps saw net buying for the third time in four weeks….
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