LONDON (Reuters) – Investors have swept into assets perceived to perform on slowing growth and rising inflation a weekly round-up by BofA showed on Friday, with tech stocks seeing their biggest inflows in six months and large outflows from U.S. government debt.
At $2.5 billion, tech stocks saw the biggest inflows since March 2021 while outflows from U.S. Treasuries rose to $1.3 billion for the week, its highest since February 2021 as so-called “stagflation” flows gathered momentum.
Emerging market equities enjoyed inflows of $4.4 billion the data also showed. Private clients of the U.S. investment bank, holding $3.2 trillion in assets, increased their allocation to stocks to a fresh record high of 65.2% but cut bonds to an all-time low of 17.7%.
(Reporting by Saikat Chatterjee; Editing by Marc Jones)
