BofA's weekly flow report notes USD 39.5bln into cash, USD 56.4bln into stocks, USD 31.3bln into bonds, USD 0.3bln into gold and USD 0.5bln into crypto

BULL/BEAR: BofA’s Bull & Bear Indicator was unchanged at 9.5, an “extreme bull” reading and in “sell” territory after the signal was triggered in May. Strong equity and tech inflows and tighter HY and AT1 spreads were offset by weaker global stock-market breadth. BofA said extreme bullish positioning argues for reducing risk exposure. CASH/GOLD: Cash saw USD 39.5bln of inflows, taking money-market fund assets to a record USD 7.9tln. Gold and precious-metals funds saw USD 0.3bln of inflows, resuming inflows. Crypto saw USD 0.5bln of inflows. EQUITIES: BofA notes that stocks saw USD 56.4bln of inflows this week, the fourth-largest inflow YTD, comprising USD 62.1bln into ETFs and USD 5.8bln of outflows from mutual funds. DM: US equities saw USD 25.1bln of inflows, resuming inflows. Japan equities saw USD 1.2bln of inflows, a fifth consecutive week of inflows. European equities saw USD 0.4bln of outflows, a 13th consecutive week of outflows. EM: EM equities saw USD 14.0bln of inflows, resuming inflows. China equities saw USD 9.0bln of inflows, the largest since December 2025. By sector: Tech saw USD 18.8bln of inflows and is on track for a record USD 183bln inflow in 2026; financials saw USD 2.4bln, the largest since January 2026; materials USD 1.7bln, healthcare USD 1.5bln, communication services USD 0.6bln, real estate USD 0.5bln, utilities USD 0.4bln, and energy and consumer funds USD 0.1bln each. By style: US large cap saw USD 9.2bln of inflows and US small cap USD 3.3bln; US growth saw USD 1.2bln of outflows and US value USD 0.2bln. BONDS: BofA says bonds have now seen inflows for 63 straight weeks, with USD 31.3bln of inflows this week. TIPS saw USD 0.4bln of inflows, 23rd week of inflows. IG bonds saw USD 16.0bln of inflows, 14th week of inflows. Govt/Tsy bonds saw USD 8.4bln of inflows, second straight week of inflows. HY bonds saw USD 2.0bln of inflows, fourth week of inflows. Bank loans saw USD 1.5bln of inflows, a fifth week and the largest inflows since February 2025. EM debt saw USD 0.6bln of inflows, a fourth consecutive week of inflows.