Bullish investors pile into EM, European stocks in March, BofA survey shows

LONDON - Upbeat investors rushed into emerging market equities in March at the fastest pace since April 2017, and into euro zone stocks at the quickest clip since June 2020, Bank of America's fund manager survey on Tuesday showed.

A string of stronger-than-expected U.S. data releases has helped brighten the mood in global stock markets, even if it has made the Federal Reserve less likely to cut interest rates and hurt bond prices. The benchmark U.S. S&P 500 has been trading at all-time highs.BofA's survey showed that 40% of respondents expect lower bond yields in the next 12 months, down from 62% in December 2023.

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