U.S. the only region to draw inflows this week, financials suffer: BAML
Reuters
Published Jun 22, 2018 06:21AM ET
U.S. the only region to draw inflows this week, financials suffer: BAML
LONDON (Reuters) - The U.S. was the only global region to enjoy inflows this week, with $5.1 billion pumped into U.S. stock funds while the same amount flooded out of emerging markets funds, Bank of America Merrill Lynch (NYSE:BAC) strategists said on Friday.
Investors pulled $2.7 billion out of European equities and $1.9 billion out of Japan.
It was the seventh straight week of inflows for U.S. equities which have benefited from their heavy weighting in big tech stocks.
In a week of new highs for the tech-heavy Nasdaq, investors kept hungrily buying tech stocks, putting the sector on course for a record annualized inflow of $37 billion.
Meanwhile investors shed financials stocks at a rate not seen since September 2016.
Some $1.4 billion flowed out of financials as investors adjusted their expectations of quantitative tightening after a more dovish than expected ECB.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.