Investors poured a record $12.7 billion into emerging-market debt and equity funds in the week to Wednesday, in response to China's easing of its COVID-19 restrictions on activity, data on Friday from BofA Global Research showed.
The BofA data also showed weekly flows of $14.4 billion into bond funds, $7.5 billion into equities, $0.6 billion into cash and $0.6 billion from gold.
European equities witnessed their first weekly inflow in almost a year. BofA said there were $0.2 billion of inflows to European stock funds, the first inflows in 49 weeks.BofA's "Bull & Bear indicator" is at 3.5, a 10-month high driven by the inflows into emerging markets. Nonetheless, the note also says that markets are still facing several major uncertainties despite the recent optimism, as central banks near the end of their aggressive interest rate hikes, as well as the possibility of an economic "hard landing" and political tension in the United States around its debt ceiling.
"We are in the trickiest part of the investment cycle: tightening ending but easing far from beginning, inflation over but recession not yet begun, China reopen vs US recession…little wonder Wall St narratives changing quicker than a TikTok video," it said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Usain Bolt missing $12 million in alleged ‘serious act of fraud’Lawyers for Usain Bolt said Wednesday that more than $12.7 million is missing from his account with a private investment firm in Jamaica that authorities are investigating.
Read more »
Usain Bolt Has $12 Million Missing From Account In Possible Fraud, Lawyers SayThe Olympic sprint great's legal team is threatening to sue if the money is not returned.
Read more »
County settles Lucky Phounsy death case for $12 millionThe settlement ends the case that focused attention on the Sheriff's Department's use of maximum restraints to subdue people. A jury had found in favor of the family and awarded $85 million, an amount later thrown out by a judge.
Read more »
Foreign Investors Buy China In SizeAsian equity markets were mixed as China, South Korea, and Indonesia outperformed while Hong Kong, Japan, India, and the Philippines were lower.
Read more »
Abbott seeks to ban investors from China, Russia, Iran and North Korea from buying Texas landTexas governor vows to sign legislation, following similar move by Florida Gov. Ron...
Read more »
Foreign Investors Buy China In SizeAsian equity markets were mixed as China, South Korea, and Indonesia outperformed while Hong Kong, Japan, India, and the Philippines were lower.
Read more »