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$16.1 billion. "Monster reallocation cash-to-stocks as tax redistribution threat recedes and the Federal Reserve is expected to remain Wall Street-friendly," analysts led by Michael Hartnett, chief investment strategist at the bank, said in a note, adding that liquidity conditions remain the easiest since July 2007.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thoughtworks valued at over US$ 8.8 billion in market debut as shares jump:Shares of Thoughtworks Inc, which helps firms digitize their operations, rose nearly 24per cent in their Nasdaq debut on Wednesday, valuing the company at about US$8.84 billion.The software consultancy company's stock opened at US$26, compared with its initial public offering price of US$21.The compan
Read more »