Investors are piling into US equities like never before: Cumulative US stock inflows have hit a $448 BILLION year-to-date, a new all-time high. This is nearly TWICE as much as 2022 and 2023 combined. US equity fund flows have even surpassed the previous record of ~$400 billion posted in the 2021 bull market. Meanwhile, foreign participation in US markets has hit a new record of 60%. As a result, the S&P 500 has hit 51 all-time highs this year and is up 25%. Investors are all-in on US stocks.
