UBS retail market making clients finished Monday with $37m of outflows, but there are signs of a positive shift in sentiment in October.
Tech selling has come to an end with Monday marking the first net inflows in Tech since mid-September breaking an 11-day outflow streak across Tech. Tech was the primary driver of retail selling last month with $712m of outflows accounting for 46% of UBS retail clients overall outflows.
Retail clients are buying the dip in single stocks again with two prime examples on Monday. Tesla had the largest inflows since a stock split in August and finished as the most bought stock by retail clients on Monday.
Credit Suisse saw the sixth largest inflows on net share basis (data since Aug 2013) and largest since April 2017 on negative headlines around bank's financial health. - UBS Strategy
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