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'Monster reallocations' to stocks as US tax threat recedes - BofA

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LONDON : 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.At US$51.2 billion, stock funds attracted large inflows in the week to Wednesday as

LONDON : 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.

At US$51.2 billion, stock funds attracted large inflows in the week to Wednesday as investors cut their cash holdings by US$61.8 billion, the largest outflows from cash since July 2020, BofA said, citing EPFR data. Bond funds saw inflows of US$16.1 billion. "Monster reallocation cash-to-stocks as tax redistribution threat recedes and the Federal Reserve is expected to remain Wall Street-friendly," analysts led by Michael Hartnett, chief investment strategist at the bank, said in a note, adding that liquidity conditions remain the easiest since July 2007.

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