Investor optimism continues to brighten
Inflows into global equity funds hit their highest level in 35 weeks in the week to Wednesday, according to a report from Bank of America , as investor optimism brightened.
The pick-up in flows followed data last week which showed that U.S. inflation cooled more than expected in October, prompting a dramatic rally in global stocks and bonds. In the fixed income market, investors pulled $1.3 billion from investment grade corporate bond funds. But they plowed $3.7 billion into high-yielding debt, which is issued by companies with weaker credit ratings.
They said the Fed is only likely to start to “pivot” towards cutting rates around June or July, which could unleash a “big bull trade.”
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