LONDON (Reuters) – Traders stormed into riskier property final week, pumping $27 billion into fairness funds as constructive COVID-19 vaccine updates led to euphoric shopping for of shares in worst-hit sectors reminiscent of banks, journey and leisure and oil, (BofA) mentioned on Friday.
Citing knowledge from EPFR, the bank mentioned inflows into international stocks within the final two weeks soared to $71.four billion, the most important ever. The flows have been led by U.S. and rising market stocks.
The chance-on transfer prompted traders to tug $four billion from gold, the most important outflows ever.
Reporting by Thyagaraju Adinarayan; Enhancing by Dhara Ranasinghe