LONDON (Reuters) – Investors stampeded into stocks and out of cash as global equity funds witnessed their biggest inflows since March 2021 while large-cap U.S. funds enjoyed a record haul, a weekly round-up by BofA showed on Friday.
Stock funds saw large inflows of $51.2 billion in the week up to Wednesday, as investors reduced their cash holdings by $61.8 million, BofA reported citing EPFR data. This was the largest cash outflow since July 2020. Inflows to bond funds were $16.1 billion.
Inflows to bond funds totaled $16.1 billion. This was according to Michael Hartnett (chief investment strategist of the bank), who stated that the Federal Reserve will continue to be Wall Street friendly. Hartnett also noted that liquidity conditions have remained the best since July 2007.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.