Group 1 - Global equities are showing signs of being overbought, with 89% of MSCI stock indexes trading above their 50-day and 200-day moving averages, surpassing the 88% threshold considered a sell signal [1] - Investors withdrew $15.4 billion from equity funds over the week, indicating increased caution as stock markets reached new highs, with the MSCI World Index hitting an all-time high on January 27 [2] - Despite equity outflows, BofA's bull-and-bear indicator reflects "extreme" bullishness among investors, supported by strong breadth in global stock indexes and a robust credit market [3] Group 2 - Flows to US equity funds have resumed, attracting $9.2 billion during the week, while Europe experienced its first outflows in seven weeks, totaling $400 million [3] - BofA's preferred trades for 2026 include going long on bonds, international stocks, and gold, with a noted preference for international equities since late 2024 as the US underperformed [4]