Given a text T, and several options, according to the question posed in the text T to choose the most appropriate option from the options as the answer, please directly output the most appropriate option, do not need to output the explanation.

Which flow-of-funds indicator is considered bearish for equities?
Option A:A large increase in the number of IPOs.
Option B:Higher-than-average cash balances in mutual funds.
Option C:An upturn in margin debt but one that is still below the long-term average.

Answer: A