According to Bank of America, money moved out of U.S. equities and into international markets as the global rotation trend accelerated into the second quarter.
Bank of America said investors pulled capital from U.S. equities in March, with funds selling $15.4 billion of U.S. stocks while increasing purchases in international markets. The note points to a broader global rotation, a market shift in which investors reallocate capital across regions, and says the trend continued to build into the second quarter. The source does not specify which international markets received the inflows or provide additional breakdowns.