Investors continue to flee U.S. equities based on the latest data from the Investment Company Institute. If anyone tells you that the market is just going up ‘due to liquidity’ show them this flow data. Mutual funds investors are pulling money out of U.S. equities…and piling into bonds and foreign stocks.
There are many good arguments why stocks can’t keep rallying, but ‘too much liquidity is flowing into stocks’ isn’t one of them.
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