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Bank of America

June 12, 2026

The Flow Show

Weekly UpdateEquitiesRates CreditCommoditiesInformation TechnologyFinancials

The BofA 'Flow Show' reports a 'sell' signal on the Bull & Bear indicator at 8.8 as tech inflows reach record highs. Investors are cautioned by inflationary trends reminiscent of the 1994 market environment.

Key Takeaways

  • 1.BofA Bull & Bear Indicator rose to 8.8, triggering a 'sell' signal for global stocks.
  • 2.Massive inflows to tech funds reached a record $12.3bn, contrasting with ongoing outflows from crypto and gold.
  • 3.The 1994 analog suggests potential for market volatility due to inflationary pressures and the risk of Fed rate hikes.

Table of Contents

  • The Flow Show
  • Asset Class Flows
  • Fixed Income Flows
  • Equity Flows
  • BofA private client flows & allocations
  • The Asset Class Quilt of Total Returns
  • BofA Rules & Tools
  • BofA Bull & Bear Indicator (B&B)
  • 2026 Cross-Asset Winners & Losers
  • Acronyms
  • Disclosures

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Authors

Michael HartnettAnya ShelekhinMyung-jee JungJessica Guo

Securities

Direxion Daily Semiconductor Bull 3xSOXX

Themes

Inflationary PressureFed Policy Risk

Regions

Asia PacificEuropeUnited StatesJapanIndia