Heavy Selling By Institutional Clients For December

Last week Institutional clients were net sellers of US stocks for the second week in a row, according to Bank of America Merrill Lynch's Equity Client Flow Trends weekly research report.

Last week, a week during which the S&P 500 rallied 2.8% Bank of America's clients were net sellers of stocks, selling a total of $0.7 billion. Institutional clients led the selling for the eight week in a row while private clients were also small net sellers for the second week in a row. Selling was broad-based although small caps saw net buying for the third time in four weeks. Bank of America has noted flows out of the US but into Europe and Japan. Buybacks by Bank of America's...