Investors pull $7.4 billion from stocks after strong start to year – BofA

Investors pull $7.4 billion from stocks after strong start to year - BofA

LONDON (Reuters) – Investors pulled $7.4 billion from stock funds over the last week and put the same amount into bonds, according to Bank of Americas latest Flow Show report on Friday.

BofA also said the traditional 60% stocks and 40% bonds portfolio had the best start to the year since 1991, with investors starting 2023 in a chipper mood.

Stocks and bonds have climbed this year as traders have cheered signs that global inflation is cooling. Thats spurred hopes that the biggest central banks might soon be able stop hiking interest rates.

(Reporting by Harry Robertson; Editing by Amanda Cooper)

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