Dip-Buyers Abound for U.S. Stocks After Latest Trade Tumult
- BofA clients bought $5.6 billion worth in 2019’s worst week
- Institutions led the way as all groups were net buyers
This article is for subscribers only.
U.S. equities are clawing back some of their losses triggered by the latest trade war flare-up. Who’s buying the dip? Using Bank of America Corp. clients as a proxy, it appears to be just about everyone.
BofA clients snapped up $5.6 billion of stocks last week as the S&P 500 Index retreated 3.1%, according to data the bank released Tuesday. That was the second-most in any week since 2008. Institutions drove most of the inflows, though hedge funds and individuals were also net buyers. Companies themselves also continued to move in, with the year-to-date corporate buyback rate holding at 12%.