Investors continue to pour money into stocks, according to the latest data from Bank of America (NYSE:BAC).
In the past week, U.S. and Japanese stock market fund flows accelerated to multi-week highs at the expense of investments in bonds and fixed income funds, said Bank of America.
While global stocks attracted a total of $18.7 billion U.S. over the past week, U.S.-focused stocks attracted $9 billion U.S. of investor dollars, their largest inflows in four weeks. Flows to Japanese stocks were the biggest in eight weeks at $1.5 billion U.S.
At the same time, fixed income inflows shrank to $5.6 billion U.S., their lowest level since March of this year, with high-yield bond funds suffering the biggest outflows in eight weeks at $2.3 billion U.S.
Gold funds enjoyed their first positive inflow of investor dollars in four weeks at $200 million U.S. during the past week, while investors pulled $30.3 billion U.S. from their cash reserves.
