Flows are rotating into FRSH while ESE weakens

🇺🇸 Equities are seeing a clear flow shift from the $ESE (ESCO Technologies Inc.) theme, which posted a $306M outflow, to the FRSH theme with a $110M inflow. This move signals a shift away from defensive, yield-oriented sectors toward more growth-oriented names, but caution is warranted as the overall outflow count remains high at 152 versus 124 inflows. ESE’s exit dominates the flow picture, while FRSH’s strong bid confirms that traders are reallocating towards fresher, more momentum-driven plays. The next test is whether this inflow into FRSH can sustain and spread beyond the leader, or if it remains a one-stock bounce amid broader risk-off sentiment.