What Are Fund Flows Telling Us About the Rally?

The video discusses fund flows, highlighting differences between domestic and international inflows. It notes significant outflows from US mutual funds despite market rallies. Institutional clients are bearish, doubting the rally's sustainability. Jamie Dimon's letter points to market volatility and liquidity issues. Retail investors are shifting from active managers to ETFs. The video also covers market risks, with a focus on the S&P 500 and global economic concerns.

What factors contribute to the volatility in the U.S. Treasury market according to Jamie Dimon?

What is the potential downside target for the S&P 500 as discussed in the conversation?