Michael Hartnett at BofA leads us off:
The Big Flow to Know: YTD investors have bought $195bn of stocks and sold $193bn of bonds; ‘22“capitulation” has been in bonds, not stocks (Chart2).
Flows to Know: biggest IG bond outflow since Apr’20 ($16.6bn–Chart 3); biggest global equity outflow in 9 weeks (Chart 4);13th consecutive week of outflows from financials ($0.7bn–Chart 5); largest outflow ever from materials ($2.2bn); biggest redemptions from energy in 5 weeks ($1.5bn–Chart 6).