Flows are rotating into BT-A.L while AZN.L weakens

🇪🇺 Equity flows are shifting sharply toward single-stock exits, with seven outflows compared to just one inflow, signaling a clear tilt toward liquidation rather than accumulation. The most significant move is a $5.15 billion exit from AZN.L, indicating a strong willingness to sell the leader in that theme. Meanwhile, the only notable inflow is a modest $163 million into BT-A.L, underscoring the overall dominance of outflows. This pattern suggests a broad-based retreat rather than selective buying - investors are actively trimming positions across multiple themes, with $AZN-L leading the charge. Next, watch whether this exit wave extends beyond the current leader or if a counterflow emerges to stabilize sentiment. Confirmation will come if inflows pick up and outflows diminish in the coming sessions.