Bank of America: First Global Stock Flows in 10 Weeks
Investors raised their global equity holdings for the first time in two and a half months and continued to buy bonds, Bank of America Merrill Lynch said on Friday, as tensions over the US-China trade rift caused financial market shocks.
Net flows to equity totaled $ 900 million in a week to Wednesday, the first time in 10 weeks, and flows of $ 135 billion in shares have been drained since the beginning of the year, the bank said, citing EFR data.
But about $ 3.9 billion has been squeezed out of emerging market stocks, the biggest exit since June last year.
Global bonds attracted $ 6.4 billion in inflows, adding to $ 158 billion that went into the safe haven market this year.
Despite growing concerns about a trade war between the world's two largest economies, Bank of America says it still expects new high-risk assets to rise this summer.
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