美银：机构投资者在美股回调时买入

Group 1 - Institutional clients became net buyers of U.S. stocks last week, with ETF inflows reaching $4.3 billion, the highest level since December 2022, despite selling $2.6 billion in individual stocks during the same period [1] - Institutions are the only net buying group, while hedge funds and retail investors were net sellers [1] - The flow of funds indicates a defensive stance, with outflows from technology and communication services sectors, while essential consumer goods and healthcare sectors saw inflows [1] Group 2 - Institutional investors have replaced retail investors as the primary "buying on dips" group this year, while corporate stock buybacks remain below typical seasonal levels [1]