Dip Buyers Storm Back to Stocks After Selloff
- Investors add about $20 billion to global equity funds in week
- Summer rally ‘bandwagon’ is growing, say BofA strategists
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Global equity funds saw their biggest inflows in 10 weeks, led by US stocks, as cheaper valuations lured buyers after a steep selloff on recession fears.
Investors added about $20 billion to global stocks in the week to May 25, led by inflows into the US, according to Bank of America Corp.’s note citing EPFR Global data. Cash led the inflows among asset classes with about $28 billion, signaling market participants continue to search for havens. Bond fund outflows reached $5.8 billion.