Money Is Pouring Into Stock ETFs at a Time When Bearish Warnings Soar
- Spigots turn back on at time when bearish warnings are rampant
- Investors peeking heads out of foxholes, says George Pearkes
Traders on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Investors are losing their ability to resist a stock rally that much of Wall Street is convinced is doomed.
More than $12.6 billion has been sent to equity exchange-traded funds in April, the largest influx since January and more than twice the rate of February and March. Money is pouring into stocks as fast as it’s being yanked out of cash: ultra-short duration ETFs are on track for their first monthly outflow since January, data compiled by Bloomberg show.