Investors Look Past the Chaos and Throw $53 Billion at Stocks
- Mutual funds and ETFs post biggest weekly inflow since 2016
- Any pullback in stocks is ‘absorbed’ by cash: JPMAM’s Santos
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Traders might have surmised that rising coronavirus cases and turmoil atop the government would breed at least the beginnings of caution among investors. Not so much.
In what is shaping up as a historic month for equities, exchange-traded funds focused on U.S. stocks were just hit with one of the biggest deluges of cash ever recorded, attracting nearly $53 billion in November. A similar enthusiasm can be seen in flows to long-term mutual funds, following a stretch in which the buy-and-hold set pulled money for 26 of 29 weeks.