Investing.com -- Last week saw broad flows toward all asset classes, but China led the way with the third-largest equities inflow in 2024, Bank of America revealed Friday. Year-to-date, stock funds are now tracking $700 billion in inflows, the second-highest ever.
Meanwhile, bond funds recorded $17.5 billion in inflows, marking the 50th consecutive week of inflows for investment-grade bonds, which drew $9.5 billion. Cash inflows were also strong, reaching $16.7 billion. Gold attracted $500 million in inflows, while cryptocurrencies saw $300 million. On politics, the bank highlights that the latest polling shows a tight race between Donald Trump and Kamala Harris, with Trump having a slight edge at 53% to Harris' 47%. However, what’s more important to Wall Street is the low and stable likelihood—around 30%—of a"sweep" by either party, meaning one party controlling both the presidency and Congress.