By Investing.com Staff
BofA Securities investment strategist, Michael Hartnett, highlighted in his flow show report Friday that last week saw the largest inflows into emerging market debt and equity funds at $12.7 billion. This comes as the world capitulates on China's reopening, he said.
Hartnett further highlights that China stocks are up 52% from their lows, the Eurozone is up 33%, copper 32%, UK 29%, and materials 28%. However, he said there can be no "Big Bull without the Big Dog" - the NYSE. He said the NYSE Composite needs to "convincingly" break above 16,200 versus where it currently stands at 15,600.
Among other flows to know, Hartnett highlighted "big, steady" inflows to corporate investment grade bonds over the past four weeks, the first inflows to European stocks in 49 weeks, and the first inflow to Bank Loans in the past 11 weeks.