Stock Market News
Investors Moved $60 Billion to Cash Last Week, the Largest Inflow in 7 Months – BofA
2022.04.29 17:16
Investors Moved $60 Billion to Cash Last Week, the Largest Inflow in 7 Months – BofA
In a regular weekly client note that analyzes last week’s client flows, Bank of America strategist Michael Hartnett noted that the US stocks in real-time are on course for the worst annual drop since 1974.
Hartnett noted that the S&P 500 loss adjusted for inflation YTD is 18.1% with the Nasdaq market cap loss since Nov’21 high at roughly $4 trillion.
“Huge $1.1tn inflows to stocks since Jan’21 have average entry point of 4274 on S&P500…means “pain” & “exit” requires
