Investors pulled $16.2 billion from stocks in the past week in the largest weekly redemption since the March stock market slump, according to the Bank of America's weekly flows data.
FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri
Stock markets have staged a remarkable recovery in the past month after the coronavirus crisis cause a massive tumble in March. The rebound has been powered by technology stocks but BofA said there were signs of “tech fatigue”. Gold and high-yield bond funds both saw their biggest six-week inflows on record, with $32 billion flowing into high-yielding bonds in what analysts called a “high-yield comeback”.
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