BAML's Institutional Clients Have Dumped Stocks For 13 Straight Weeks

Bank of America Merrill Lynch’s Weekly Equity Client Flow Trends report for the week ending 16 May 2017 shows that despite the market’s steady grind higher, equity investors remain unconvinced about recent gains. Specifically, during the week Bank of America clients were small net sellers of US equities, selling a net total of $59 million. Since March flows have alternated showing a lack of conviction among net buyers. The report notes that net sales last week were entirely due to institutional clients, who have dumped stocks for 13 straight weeks and now, in terms of cumulative flows since January 2008,…