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By Staff Reporters
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Inflows to domestic stocks neared a record last week as bets on a bottom forming spurred major dip-buying across U.S. equities. The optimism, however, is likely premature, according to Bank of America.
Analysts at the bank just noted that allocations to equities reached the third-highest sum since 2008 during the five-day period, according to client data — a sign investors believe indicates that the market sell-off is nearing an end.
But BoA contested the notion that the worst is behind for the stock market
“Last week, during which the S&P 500 rallied 1.5% off recent lows, clients were big net buyers of U.S. equities,” the analysts stated, noting that the $6.1 billion total of inflows was the third largest inflow in the banks data history since ’08 and the fifth consecutive week of inflows.
“Our view? More volatility likely ahead.”
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Filed under: Breaking News, Investing | Tagged: Bank America, banks, Equity inflow warning, equity inflows |
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