Deutsche Bank Strategists See Tax Refunds Fueling US Stock Flows

US stocks could see about $11 billion in weekly inflows as annual tax refunds are paid out until mid-April, according to Deutsche Bank strategists.

• The team including Parag Thatte says the period from mid-February to mid-April typically accounts for about a third of the annual inflows to US stocks
  • The bank’s economists expect an additional $50b to $100b in individual tax refunds this year, which could also drive consumer spending
• Still, the strategists warn the boost to equity flows could be smaller than in 2021, when fiscal stimulus payments were much higher
  • At the same time, perceptions of growth and ...