More money into stocks in the past five months than the last 12 years, BofA says
Investors have injected more money into equity funds in the last five months than over the last 12 years, according to Bank of America data.
An eyewatering $576bn has been invested since December, over the peak of the GameStop surge, and topped the $452bn that had been raised over 12 years.
The Bank of America’s weekly flow figures showed 63.6 per cent of its clients’ money had been invested in stocks, while 18.5 per cent was in debt and 11.6 per cent in cash.
The stocks enthusiasm has slowed in recent weeks, as its clients invested $22.7bn during the past week.
Over the last two weeks, investors have poured nearly $100bn into equity funds.
It comes as global stocks hit an all-time high today as dampened US inflation fears stoked low bond yields.