Over the last two weeks, equities attracted $40 billion in inflows, marking their most substantial two-week influx since February 2022, according to Bank of America analysis.
As far as the week to November 21, cash emerged as the primary winner, drawing $40 billion. Stocks attracted $16.5 billion, bonds $4 billion, and gold $700 million.
Notable inflows included gold, investment-grade bonds, and technology funds. In terms of regional breakdown, the U.S. experienced its 6th consecutive week of inflows, emerging markets faced their 7th week of outflows.
Elsewhere, Japan witnessed its 3rd week of outflow, and Europe had its 37th week of outflows.
BofA’s report, citing EPFR Global data, also highlighted 2023 flow winners and losers, with $1.2 trillion flowing into cash, $186 billion into Treasuries, $145 billion into investment-grade bonds, and $143 billion into equities.