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

🇪🇺 Flow shifted sharply into defensive sectors at 10:30 AM ET, signaling a cautious market tone. Outflows from the Cross-Sector Defensive Cohort topped $77.5 billion, led by $SHB-A-ST, while inflows into the Utilities & Communications Cohort surged past $38 billion, led by NTGY-MC. This stark divergence underscores a retreat from cyclical risk assets toward perceived safety. The key takeaway is the broadening defensive stance, with the largest inflow reinforcing the theme of risk aversion. Next, watch whether the inflows into utilities hold steady or fade, as confirmation of a sustained defensive shift. A pause or reversal could signal a reassessment of market risk appetite.