Bond inflows highest in four months; “inflation shock over” – BofA
2022.11.11 05:46
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© Reuters. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo
LONDON (Reuters) – Investors bought bonds at the highest weekly rate in four months in the week to Wednesday, sold $4.6 billion of stocks and ploughed $2.4 billion into cash, BofA Global Research said on Friday, with the market “inflation shock” now over.
European equity funds recorded their 39th week of outflows, totalling $2.7 billion, while U.S. growth stocks got a boost of $2 billion and investors bought energy stocks for the fifth week in a row.
Emerging market equity funds recorded a third straight weekly inflow, up $400 million.
BofA’s “Bull & Bear” indicator was still at “max bearish” and has been since June; its longest streak at that level since the global financial crash in 2008/09, the bank said.
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