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Bank of America: Investors are buying in bond and emerging market funds
Bank of America analysts said that investors pumped money into bond funds for the twentieth week in a row while withdrawing additional $ 2.8 billion in US equity funds as US stocks reached a record high.
Emerging market funds recorded a strong weekly performance, while debt funds witnessed the largest weekly entry of flows, at $ 2.4 billion, since January 2020.
Equity funds witnessed the second largest consecutive weekly flows for the first time since the beginning of the year, according to analysts at Bank of America based on financial flows data in
A week through Wednesday.
Bond funds attracted $ 16.7 billion and drained money from US equity funds, as did Japanese and European funds, which witnessed a limited migration of funds in the week ending on Wednesday.
US stock markets reached record highs this week, recovering from heavy losses caused by the Coronavirus pandemic.
Bank of America analysts pointed out that if the Standard & Poor's Index, which is currently at 3,484 points, reached the level of 3,630 by the time of the US presidential election on November 3, this would represent the greatest rise ever in terms of speed and range.
