🇺🇸 Equities are seeing a clear flow reversal, with outflows dominating for the first time in recent sessions. The key concern is the shar...

🇺🇸 Equities are seeing a clear flow reversal, with outflows dominating for the first time in recent sessions. The key concern is the sharp $146 million exit from the Cross-Sector Innovation Focus theme led by $AAL (American Airlines Group, Inc.), signaling a potential shift away from previously favored growth areas. This outflow confirms a broadening retreat from risk assets, with AAL’s departure marking the largest move. The next step is to watch whether other innovation or growth themes follow suit or if this remains an isolated one-off. The absence of significant inflows suggests caution remains warranted.