There was an increase in the number of marginal buyers of United States shares and a shift in the funding structure to a more active one in August

On 13 August, Citadel Securities argued that the most noteworthy change in the United States stock today was the increase in funding sources willing to continue buying at higher prices. Between 2026 and 10 August, the cumulative net inflow of passive ETFs was approximately $1.6 trillion, equivalent to an average of about $7.5 billion per day, 55 per cent higher than previously recorded; the net inflow in July was about $34.6 billion, a record high. At the same time, the business buy-back window was reopened, with an announced mandate of more than $1 trillion, and about 70 per cent of the large buy-backs came from outside the technology block. In addition, retail money has re-established as a net buyer, while previous systemic deleveraging has largely been completed. Asymmetrics in the market began to tilt towards buyers when sales pressure, passive funds, buybacks and potential buy-backs of systems strategies were restored. If August turns into a build-up, some purchasing power may be consumed earlier, and the September funding structure may not be equally favourable. Kim Xian