UBS Sees Capitulation As Hedge fund Net leverage Gets To 2009 Lows

“We see six signs of capitulation flows data,” begins UBS’s weekly European Flow Watch research note sent to clients yesterday. According to the bank’s analysts, the six signs of capitulation in European equity markets in European equity markets are: Banks: Investors have been net sellers of the banks the first time in five and half years. The recent risk-off move has seen the most net selling of any sector over January. Country selling: On both a 12-week and 14-week view, Italy saw the largest net outflows since 2014. However, buying of stocks in the Core Eurozone area has spiked and…