Flows are rotating into Utilities & Communications Cohort while Cross-Sector Defensive Cohort weakens

🇪🇺 A clear flow reversal is underway as defensive sectors pivot from large outflows to significant inflows, signaling a cautious shift in market sentiment. The biggest outflow remains from the Cross-Sector Defensive Cohort led by $SHB-A-ST with -$72.01B, yet inflows into the same theme have surged by +$49.53B, driven by RED-MC and TLX-DE. Meanwhile, utilities and communication stocks are attracting the largest bid, with NTGY-MC taking in +$56.68B, confirming defensive positioning is still dominant but now more balanced. This shift suggests traders are re-engaging with defensive themes after a period of broad liquidation, but the pattern remains uneven. The inflow spike into utilities and communications indicates a possible stabilization, yet the outsized exodus from industrial and consumer sectors remains a warning of underlying risk aversion. Next, watch whether inflows into the Cross-Sector Defensive theme sustain and whether the utilities bid broadens beyond NTGY-MC, which would signal a more durable defensive stance.