Investors still pouring into cash, but pace slows - BofA
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2023-05-19 18:53
LONDON Investors pumped $25.1 billion into cash in the week to Wednesday, bought $5.6 billion of bonds and

LONDON Investors pumped $25.1 billion into cash in the week to Wednesday, bought $5.6 billion of bonds and shed $7.7 billion of stocks, according to a report from BofA Global Research on Friday.

Inflows to cash funds are still hefty, but they have slowed down compared to earlier this year. A total of $151 billion went into money market funds over the last four weeks versus $404 billion in the four weeks after Silicon Valley Bank collapsed in March.

The report also showed U.S. Treasuries clocking up 14 straight weeks of inflows, with investors buying $4.3 billion in the week to May 17.

A total of $1.1 billion went into tech stocks, marking a fifth week of inflows, as investors chose growth names over value.

BofA said its bull and bear indicator - a measure of market sentiment - jumped from 3.4 to 3.5 - its highest level since March 14.

(Reporting by Lucy Raitano; Editing by Amanda Cooper)

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