[text] "It's Not A Risk-On Rally, This Is The Biggest Short Squeeze In Years" Says Bank Of America | Zero Hedge

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"Today, we got confirmation that what the rally of the past week has been all about is precisely that: a massive short-covering squeeze, when Bank of America's Mike Hartnett looked at the latest weekly fund flow data and noted a "monster $53bn MMF inflows vs redemptions from equity ($4.3bn) & fixed income funds ($2.4bn)...rising cash levels indicate big risk rally (from intraday lows last week SPX +7.7%, EEM +13.5%, HYG +4.2%) driven primarily by short-covering rather than fresh risk-on.""

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[text] "It's Not A Risk-On Rally, This Is The Biggest Short Squeeze In Years" Says Bank Of America | Zero Hedge