Flows are rotating into FRSH while WAFD weakens

🇺🇸 A clear flow shift is underway with inflows outpacing outflows for the first time in a while, but caution persists as the strongest outflow remains concentrated in $WAFD. Today’s snapshot shows 172 outflows versus 100 inflows, signaling a cautious turn. Notably, WAFD led the exit with a $20 million outflow, while FRSH attracted a hefty $34 million in inflows, confirming the divergence between the two. This suggests a potential rotation away from the recent theme represented by WAFD, while fresh interest in FRSH hints at a shift in trader focus. The next move hinges on whether inflows sustain in the coming hours, especially in FRSH, or if outflows resume and widen in other groups. Watch for whether FRSH’s inflow sustains as a test of whether this flow shift signals a broader trend or a fleeting divergence.