Investing.com — US equity funds are set to experience a record-breaking year with annualized inflows reaching $448 billion, Bank of America reported.
Money market funds are also witnessing unprecedented demand, projected to receive “massive” inflows of $1.1 trillion in 2024.
In the week ending November 11, equity funds attracted $14.4 billion, while bonds saw inflows of $9.1 billion and cryptocurrencies gained $900 million.
Meanwhile, $600 million exited gold, and money market funds experienced withdrawals of $1.3 billion, BofA said in its weekly ‘Flow Show’ report, citing EPFR global data.
Among other noteworthy flows, BofA highlighted that Treasuries saw outflows totaling $6.4 billion over the past two weeks, marking the highest level since December 2023.
Sector-wise, saw $6 billion in inflows over the past four weeks, the largest since February 2022, while tech stocks had their biggest inflow in six weeks at $5.4 billion.
In the meantime, healthcare stocks experienced outflows of $1.1 billion, the largest since December.
By region, US stocks marked their seventh consecutive week of inflows with $16.4 billion. In contrast, emerging market equities saw their sixth…
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