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Investors exit stocks at fastest rate since March, 'tech fatigue' sets in: BOFA

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Investors pulled $16.2 billion from stocks in the past week in the largest weekly redemption since the March stock market slump, according to the Bank of America's weekly flows data.

FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri

Stock markets have staged a remarkable recovery in the past month after the coronavirus crisis cause a massive tumble in March. The rebound has been powered by technology stocks but BofA said there were signs of “tech fatigue”. Gold and high-yield bond funds both saw their biggest six-week inflows on record, with $32 billion flowing into high-yielding bonds in what analysts called a “high-yield comeback”.

 

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Not according to this chart of the Tech heavy Nasdaq Composite ten week moving average

TrumpDepression coming...

corona virüs will destroy us economy. The economic situation is very bad. 3 thousand people dies ever day in america.

Who’s BOFA reuters

oh no

I think tech will be one of the winners when the virus particles finally settle. The market is not pricing in a depression yet.

What's BOFA?

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