Stock Inflows at Seven-Month High-BofA | Photo credit: Shutterstocks
LONDON, Oct 28 (Reuters) – Equity-focused funds posted their biggest weekly inflows in seven months in the week to Wednesday as funds invested in U.S. Treasury bonds head for their worst annualized returns in near 250 years, weekly data released by BofA showed on Friday.
According to the investment bank, which analyzes data from EPFR Global, the amounts invested in equity funds amounted to 22.9 billion dollars (23 billion euros), a level not seen since March 2022, those towards cash funds at $28.4 billion.
Inflows to bond funds reached $1.4 billion while gold funds posted outflows of $500 million.
The analysts of the American bank specify that the entries resumed on the bonds of companies of category “investment grade” but also on those with high yield (“high yield”), more risky.
Emerging market equity funds attracted $2.8 billion, their largest inflows since April.
BofA adds that its “Bull & Bear” indicator of financial market sentiment remains “extremely bearish” for the sixth week in a row. (Lucy Raitano, French version Laetitia Volga, edited by Marc Angrand)