Markets are moving out of ‘extremely bearish’ territory, says BofA Global Research











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by Lucy Raitano

LONDON (Reuters) – Investors favored equity and bond funds over cash and gold in the week to Wednesday, BofA Global Research said on Friday, welcoming the markets’ exit from “extremely bearish” territory. “.

Funds specializing in equities recorded net inflows of 18 billion dollars (16.93 billion euros) and bond funds of 2.3 billion dollars, announced the American bank in its weekly update on flows on the investment fund market.

On the other hand, investors offloaded $200 million in gold and “cash” funds posted their largest outflows in three months, at $31.1 billion, notes BofA.

US value equity funds posted their largest inflows at $14.3 billion.

The “Bull & Bear” indicator of financial market sentiment calculated by BofA reached its highest level since March 15.

The turnaround was reflected in equity markets where Europe’s STOXX 600 index hit a more than six-month high on Tuesday while the Nasdaq and US S&P-500 traded close to three-month highs in beginning of the week.

(Lucy Raitano, French version Laetitia Volga, editing by Kate Entringer)










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