Investors Flock to European Stocks Leaving US Behind, BofA Says
- European equity funds had $3.4 billion of inflows: EPFR
- Investors pour $7.9 billion into emerging market equities
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Investors are chasing European stocks at the fastest pace in nearly a year, while US equity inflows remain muted amid concerns of a recession, according to Bank of America Corp.
European stock funds had $3.4 billion of inflows in the week through Jan. 25, according to a note from the bank’s strategists led by Michael Hartnett, citing EPFR Global data. This is the largest addition since February, before these funds had 48 straight weeks of outflows.