BofA: Clients Bought the Dip in US Stocks Last Week, ETF Inflows Led Buying

This is a tell about positioning rather than conviction: when the marginal buyer is an ETF flow, buying is mechanical and index-driven, not a stock-picker's vote on fundamentals. That distinction matters for anyone tracking whether dip-buying reflects durable demand or passive rebalancing that can reverse as quickly as it appeared. The open question is whether ETF-led inflows keep absorbing pullbacks, or whether the bid thins once the passive tailwind fades.