The biggest story this week is a decisive rotation back into US equities. American markets pulled in $12.0B net in the past week alone. Over three months, the US has attracted $673B — the single largest geographic flow by a wide margin.
The US leads all regions with $12.0B in weekly net inflows. Flow imbalance sits at 55, suggesting buying pressure is moderate but sustained.
Global ex-US funds added $2.4B this week. Developed Markets ex-US brought in $1.2B. Both carry high flow imbalance scores above 85, signalling near-one-sided buying.
Japan attracted $1.7B this week and a massive $293B over three months. That 3m figure is second only to the US, making Japan the standout international destination for institutional capital.
China is the sharpest reversal. It bled $7.8B this week alone. Over three months, China outflows total $44.0B. Flow imbalance has collapsed to 25.7 — deep selling pressure. South Korea shed $3.1B this week, adding to the emerging Asia caution signal.
India flipped negative over three months at -$1.2B, though weekly flows were a modest +$275M. That divergence warrants watching.
Technology posted the worst sector outflow this week: -$1.7B. That is a sharp contrast to the three-month picture, where Tech attracted $90.7B — the biggest sector inflow by far. The short-term reversal suggests profit-taking after a strong run.
Energy is this week's top sector winner at +$1.5B. Over three months, it has drawn $12.6B — consistent and building.
Financials and Health Care both saw weekly outflows of around $630M-$685M. Both sectors have been negative over three months too. That is consistent selling, not just noise.
Real Estate gained $441M this week. Industrials added $140M. Neither is a blockbuster, but both are positive on both timeframes — quiet and steady.
Materials flipped sharply. It attracted flows 1w (+$167M) but shed -$6.3B over three months. Short-term buyers may be bottom-fishing.
Equities dominated asset class flows at $18.9B this week and $1.16T over three months. Fixed income added $9.7B weekly and $183B over three months. Both asset classes show buying pressure. Commodities were mildly positive this week at +$1.2B, but over three months they recorded a heavy -$78.0B outflow. That three-month commodity bleed is the biggest negative asset class signal in the data.
Active funds were the top weekly strategy winner at +$11.1B, with a strong flow imbalance of 78. Over three months, active strategies pulled in $128B. Momentum funds are even more extreme: flow imbalance of 96 this week. ESG continued to lose ground, shedding -$181M this week and -$14.3B over three months. Growth strategies showed a clear divergence — barely negative this week but up $326B over three months.
Overall, the tone is cautiously risk-on: US equities, active management, and energy are attracting capital, while China, Tech profit-taking, and commodities face the strongest headwinds.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
