In today’s market wrap, we observe a moderate level of activity with overall trading volumes in line with the 5 and 20-day moving averages. Our floor flows are balanced but slightly tilted towards buying, driven by asset managers.

Looking at the order flow, we see that liquidity providers (LOs) are slightly biased towards buying, with a net inflow of around $500 million. This demand is primarily coming from the healthcare, consumer discretionary, and financials sectors, while supply is more pronounced in the industrials and utilities spaces.

On the other hand, high-frequency traders (HFTs) are slightly more bearish, with a net sell position of around 4% due to a mismatch between demand and supply in the information technology and industrial sectors. However, there is notable buying pressure in the consumer discretionary and macro products spaces.

Overall, the market sentiment appears balanced, with both buyers and sellers contributing to the trading activity. As always, it’s important to keep a close eye on market trends and shifts in investor sentiment to make informed trading decisions.