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US Bank Customers Sell US Stocks at Fastest Pace in 10 Weeks
Summary: According to reports, customers of US banks have been withdrawing from the US stock market at the fastest pace in 10 weeks, reducing their risk exposure. By the end of June, the S&P 500 index had its best quarterly performance since 2023. Quantitative strategists at Bank of America, including Jill Carey Hall, stated in a ...
According to reports, customers of US banks have been withdrawing from the US stock market at the fastest pace in 10 weeks, reducing their risk exposure. By the end of June, the S&P 500 index had its best quarterly performance since 2023. Quantitative strategists at Bank of America, including Jill Carey Hall, stated in a report released on Tuesday that last week, all major client groups, including institutions, retail investors, and hedge funds, collectively withdrew $1.3 billion from the US stock market. As uncertainty grows around whether this rebound can be sustained amidst risk aversion in the market, the S&P 500 index has rebounded from its April lows related to tariffs and is currently hovering near its highest overbought levels since July 2024.
