by Tyler Durden
Wednesday, Apr 21, 2021 - 09:53 AM
Less than a week ago we reported that after Morgan Stanley and BofA, Deustche Bank joined the growing bandwagon of sellside researchers warning that the market is facing a period of severe turbulence, investors appear to be heeding the caution in what BofA calls a significant shift to the "increasingly euphoric sentiment."
Yesterday we reported that according to the latest institutional and HNW client data published by Bank of America,
the bank's flow desk just had seen the biggest outflows in five months as clients were net sellers of a whopping $5.2BN in US stocks last week - the biggest sales since mid-Nov. and fifth-largest on record - which took place just as the S&P 500 reached new highs.