Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1702
    +0.0008 (+0.07%)
     
  • GBP/USD

    1.2637
    +0.0015 (+0.12%)
     
  • Bitcoin GBP

    55,712.77
    -269.13 (-0.48%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

"Monster reallocations" to stocks as U.S. tax threat recedes - BofA

LONDON (Reuters) - Investors stampeded into stocks and out of cash as global equity funds witnessed their biggest inflows since March 2021 while large-cap U.S. funds enjoyed a record haul, a weekly round-up by BofA showed on Friday.

At $51.2 billion, stock funds attracted large inflows in the week to Wednesday as investors cut their cash holdings by $61.8 billion, the largest outflows from cash since July 2020, BofA said, citing EPFR data. Bond funds saw inflows of $16.1 billion.

"Monster reallocation cash-to-stocks as tax redistribution threat recedes and the Federal Reserve is expected to remain Wall Street-friendly," analysts led by Michael Hartnett, chief investment strategist at the bank, said in a note, adding that liquidity conditions remain the easiest since July 2007.

(Reporting by Saikat Chatterjee; Editing by Tommy Wilkes)