Fund inflows to stocks highest in six weeks – BofA

Fund inflows to stocks highest in six weeks - BofA

(Reuters) – Weekly inflows into stocks in the week to Wednsday were the largest in six weeks at $13.9 billion, data on Friday from BofA Global Research showed.

Investors poured $12.2 billion into bonds for the week, while gold pulled in $500 million, BofA data showed. Cash, however, saw outflows of $2.3 billion, the bank said.

BofAs bull and bear indicator hit it a 10-month high, rising to 3.7 from 3.5 last week as lower cash levels and better credit technicals offset more bearish hedge funds.

Emerging market debt and equity saw their strongest inflows in almost two years, averaging $7.1 billion over the last four weeks.

The bank said a number of metrics, including the U.S. yield curve, as well as money supply and the leading economic index sigalled a hard landing for the U.S. economy is increasingly likely in 2023.

(Reporting by Susan Mathew; Editing by Amanda Cooper)

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