October 25, 2021

The Queens County Citizen

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In ‘Lagard Rotation’, Emerging Market Equity Funds Change Winners: Bofa

In 'Lagard Rotation', Emerging Market Equity Funds Change Winners: Bofa
London: Global Investors Last week it diverted nearly $ 24 billion from cash funds toward growth MarketsBofa’s weekly fund flow figures showed on Friday, as summer winners, technology and gold slowed in the pursuit.
Bofa analysts, quoting data from financial flow tracking firm EPFR up to 9 September, said they saw a “backward rotation” with lower performance per year, such as emerging market stocks, which attracted $ 3.4 billion, the largest in nine weeks.
The United States, Europe and Japan have seen it all Moderate currents Wall Street’s growth reserves fell the most with inflows of $ 4.1 billion.
Wall Street’s tech- and stimulus-led rally stalled last week as investors booked gains after the run, raising the tech-heavy Nasdaq index by 70% from it. Pandemic lows.
Facebook, Amazon.com, Apple, Tesla, Microsoft, Alphabet and Netflix – collectively known as “Fatman” – collectively lost over $ 1 trillion in market capitalization between September 2 and September 8.
Bofa said the volatility in the stock markets this month was largely due to the impact of tech stocks and retail investors, which have been the talk of the town in recent months as markets have rallied. Corona virus Pandemic. More than 50% of the 7.2% return on the S&P 500 index in August came from just 10 tech stocks.
Bofa says the bear market is not coming, the US central bank is “too easy” and Wall Street is “flush with cash”.
The bank has advised the S&P 500 to sell above 3,600 points. The index scaled 3,588 on September 2 and has lost nearly 7% since then.
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