800 rate cuts on and investors hose money at everything: BofA
LONDON (Reuters) – Investors poured money into almost everything last week with bond funds attracting a whopping $23.6 billion and equities and emerging markets getting big boosts too, analysts at BofA have estimated in their weekly crunch of markets data.
BofA flagged that a interest rate cut in Mexico on Thursday had chalked up the 800th rate cut by global central banks since the collapse of Lehman Brothers in September 2008.
Bond funds saw their biggest weekly inflows ever, while equity funds pulled in $12.5 billion in the week to Wednesday, mainly driven by technology and emerging market stocks amid easing fears of the coronavirus impact.
The bank said as infection rates of the deadly coronavirus eased high-yield bonds also saw their strongest weekly inflows in 21 weeks of $3.4 billion and emerging market equities saw $2.7 billion inflows.
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