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☆ Stock Market Surges to Start the Year: 22 Record Highs in 3 Months
▼ + stars: | 2024-03-29 | by ( Joe Rennison | ) www.nytimes.com time to read: +1 min

It’s been a blistering start to the year for the stock market. The S&P 500, one of the most widely watched stock indexes in the world, has risen more than 10 percent over the first three months of 2024, buoyed by 22 record highs. Roughly 40 percent of the stocks in the index are trading above where they were 12 months ago. And even when the index has lost ground, it hasn’t been by much, with only three days so far in 2024 in which the S&P 500 has fallen more than 1 percent by the close. Investors in March poured roughly $50 billion into funds that buy stocks in the United States, according to data from EPFR Global.

Persons: It’s Organizations: Investors, EPFR, Reserve Locations: United States

☆ China’s AI stocks are surging. Here are the names to watch
▼ + stars: | 2024-02-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The investment analyst team led by Gary Yu has a $140 price target and overweight rating on Baidu's U.S.-listed shares. "We believe the current AI cloud integration between Galaxy AI and Ernie is just the first step," Yu said. For all the interest in AI stocks, China markets this year are still grappling with worries about whether Beijing is doing enough to support economic growth. They have a price target of 160 yuan on Shanghai-listed shares of Cambricon — upside of 12% from Friday's levels. They have a price target of 380 yuan on Shanghai-listed Kingsoft, up more than 50% from Friday's levels.

Persons: Morgan Stanley, Gary Yu, Yu, Ernie chatbot, Ernie, Fawne Jiang, Jiang, Baidu, Alex Yao, Yao, Geoffrey Hinton, Cade Metz, Hinton, Metz, it's, Sinodata, Microsoft didn't, EPFR, Bernstein, monetization Organizations: Bloomberg, Baidu, U.S, Huawei, Galaxy, Benchmark, JPMorgan China, Mavericks, Google, Facebook, Microsoft, Shenzhen Stock Exchange, Shanghai, China Equity Funds, Nvidia Locations: China, U.S, Shenzhen, Beijing, Shanghai

☆ Treasuries see first weekly outflow since Feb as investors buy stocks
▼ + stars: | 2023-11-17 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. Investors snapped up $23.5 billion in stocks in the week to Nov. 15, marking the second largest weekly inflow into equities of 2023. Cash funds saw inflows of $20.5 billion, BofA said, and overall investors bought $2.6 billion in bonds, marking a sixth week of inflows. Outflows from emerging markets debt continued for the 16th week, with EM funds shedding $1.6 billion in the latest week. BofA's bull & bear indicator, a measure of market sentiment, rose marginally to 1.7 from 1.6, a contrarian "buy" signal, said BofA.

Persons: Kevin Lamarque, Cash, BofA, financials, Lucy Raitano, Amanda Cooper, Chizu Organizations: Department of, U.S . Treasury, REUTERS, Treasury, Bank of America, Investors, Federal Reserve, Thomson Locations: Washington , U.S, U.S, United States, Europe

U.S. President Joe Biden and China’s Xi Jinping, who met in San Francisco on Wednesday, may disagree on the terminology. Barely half the manufactured goods imported into the United States from low-cost Asian countries now come from China. Chinese firms have raised just $529 million from initial and secondary stock offerings in the United States in the year to mid-October. But the conscious decoupling between the U.S. and China looks set to continue. Follow @ugalani and @a_fitri_alias on XCONTEXT NEWSU.S. President Joe Biden and Chinese President Xi Jinping met on Nov. 15 in San Francisco on the sidelines of the Asia-Pacific Economic Cooperation forum.

Persons: Xi, Joe Biden, Kevin Lamarque, friendshoring, China’s Xi Jinping, Breakingviews, Donald Trump, China’s ByteDance, Reuters Graphics Reuters Graphics Goldman Sachs, Xi Jinping, Una, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: U.S, Economic Cooperation, REUTERS, Rights, Reuters, People’s Republic . U.S, People’s, World Trade Organization, Reuters Graphics Reuters, FRAYING FINANCE, U.S . Federal Reserve, Federal, Investment Board, HK, Republican, Reuters Graphics Apple, United, Reuters Graphics Reuters Graphics, Thomson Locations: Filoli, Asia, Woodside , California, U.S, Rights MUMBAI, United States, China, Washington, People’s Republic ., San Francisco, People’s Republic, Southeast Asia, Hong Kong, That’s, New York, Greater China, India, TAIWAN, Taiwan, Una Galani, Mumbai, London

☆ Cash funds continuing to attract inflows, set for record year - BofA
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri Acquire Licensing RightsLONDON, Nov 10 (Reuters) - Global investors continued to pour money into cash funds in the week to Wednesday, as higher yields on short-dated debt put cash funds course for record inflows this year, according to Bank of America and data provider EPFR. BofA's weekly 'Flow Show' report showed cash funds attracted $77.7 billion of inflows in the week to Nov. 8, putting them on track to see around $1.4 trillion of inflows in 2023. Bond funds attracted inflows of $11.2 billion, BofA said, the largest weekly inflow in four months, after the Federal Reserve held interest rates steady and had signalled the tightening cycle could be over. Meanwhile, BofA said its Bull & Bear indicator of investor sentiment rose to 1.7 from 1.4, driven by strong inflows to high yield bond funds.

Persons: Carlo Allegri, Bond, BofA, Samuel Indyk, Alun John, Toby Chopra Organizations: of America, REUTERS, Global, Bank of America, Federal Reserve, Equity, Bank of Japan, Thomson Locations: Manhattan, New York City , New York, U.S

☆ Hong Kong finance summit tiptoes around China
▼ + stars: | 2023-11-09 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

HONG KONG, Nov 9 (Reuters Breakingviews) - Hong Kong in November enjoys a pleasant climate that some local managers dub “chairman weather”. Hong Kong is hardly a hot destination for financiers right now. Companies raised just $2.7 billion from initial public offerings in Hong Kong in the quarter, a fraction of previous years. Hong Kong officials including John Lee, the territory’s chief executive, have been sanctioned by the U.S.. Follow @peter_tl on XCONTEXT NEWSThe Global Financial Leaders’ Summit was held in Hong Kong from Nov. 6 to Nov. 8.

Persons: Marc Rowan, Colm Kelleher, Morgan Stanley, Goldman Sachs, David Solomon, Jane Fraser, Ken Griffin, Hong, John Lee, Eddie Yue, Kung, Zhang Qingsong, Bob Prince, Mark Wiedman, Apollo’s Rowan, UBS’s Kelleher, Joseph Yam, Una Galani, Thomas Shum Organizations: Reuters, Apollo Global Management, UBS, Monetary Fund, Companies, Citigroup, Citadel, Hong Kong Monetary Authority, Hong Kong’s HK, Exchange, People’s Bank of China, Bridgewater Associates, BlackRock, Goldman, Bank for International, Global, ’, Thomson Locations: HONG KONG, Hong Kong, Europe, U.S, China . Hong Kong, China, People’s Republic, Hong, British, Singapore, BLK.N, ”

☆ Hedge funds pile into US stock rally at fastest pace in 2 years - Goldman Sachs
▼ + stars: | 2023-11-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

A screen displays the trading information for Goldman Sachs on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 17, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Nov 6 (Reuters) - Hedge funds last week "aggressively" bought U.S. stocks at the fastest pace in two years, said a Goldman Sachs note (GS.N), with traders jumping into a stock rally fuelled by hopes that the U.S. central bank rate pause might stick. Many got tangled up trying to flee crowded trades which became losing positions, Goldman Sachs (GS.N) said in that note. Hedge fund long positions in information technology stocks reached the largest in eight months, said Goldman Sachs. The largest hedge fund buying centered on North America, while Europe and Asia apart from Japan which were subject to the net short positions, said Goldman Sachs.

Persons: Goldman Sachs, Brendan McDermid, Morgan Stanley, Nell Mackenzie, Dhara Ranasinghe, David Evans Organizations: New York Stock Exchange, REUTERS, Nasdaq, nab, Thomson Locations: New York City, U.S, North America, Europe, Asia, Japan, China

☆ Global funds dumped another $3 bln in China stocks in Oct -Morgan Stanley
▼ + stars: | 2023-11-06 | by ( Summer Zhen | ) www.reuters.com time to read: +1 min

HONG KONG, Nov 6 (Reuters) - Global fund managers sold China equities sharply in October despite further steps from authorities aimed at boosting the world's second-largest economy, according to a report from Morgan Stanley that cited data from fund flow tracker EPFR. "The outflows (are) mostly due to regional funds' rebalancing out of China, in which European-domiciled funds led," Morgan Stanley analysts led by Gilbert Wong said. According to Morgan Stanley, persistent outflows have resulted in foreign long-only managers being their most underweight on China since 2018. Stocks sold off include JD.com (9618.HK), Xiaomi (1810.HK) and China Construction Bank (601939.SS). Separately, Goldman Sachs prime services data showed hedge fund net allocation to China increased to 8.5% as of end-October, up from 8.1% at end-September.

Persons: Morgan Stanley, Gilbert Wong, Stocks, Goldman Sachs, Summer Zhen, Edwina Gibbs Organizations: Global, Reuters, Investors, CSI, HK, China Construction Bank, Baidu, AIA, Thomson Locations: HONG KONG, China, Hong Kong, U.S

☆ Bond fund managers head for third year of losses for first time in decades
▼ + stars: | 2023-10-31 | by ( Harry Robertson | ) www.reuters.com time to read: +4 min

Reuters GraphicsEuropean funds have effectively returned nothing this year after two down years, Morningstar data shows. Government bond funds have fared even worse and are set for three years of losses in both the U.S. and Europe. Bond yields rise as prices fall, and vice versa. Reuters GraphicsBank of America said there were $5.6 billion of inflows to long-dated Treasury funds last week, the largest on record. ICI data shows that U.S. money market funds have ballooned to $5.6 trillion in assets, from $4.6 trillion in October last year.

Persons: Dado Ruvic, Stefano Fiorini, Oliver Blackbourn, Janus Henderson, You've, Jonas Goltermann, Max Kettner, Harry Robertson, Mark Potter Organizations: REUTERS, Reuters Graphics, Morningstar, U.S, Generali Investments Partners, Reserve, Reuters, Treasury, Citi, ICE, Fed, Capital Economics, Investment Company Institute, Reuters Graphics Bank of America, Reuters Graphics Reuters, ICI, HSBC, Thomson Locations: Europe, U.S

☆ BofA: Investors sell stocks, buy bonds; shun emerging markets
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Oct 13 (Reuters) - Investors sold stocks and bought bonds in the week to Wednesday, Bank of America Global Research said in a note on Friday, while investors continued to shun emerging market assets. Equities had a weekly outflow of $8.2 billion, BofA said, citing EPFR data, while investors favoured the relative safety of bonds, which had inflows of $3.7 billion. Inflows into Treasuries totalled $7.2 billion, the largest weekly inflow since March 2023, BofA said. Investors dumped emerging market debt and stocks in the latest week, with outflows from equities at $4.3 billion, their largest weekly outflow since May 2022, BofA said. The 10-year yield was last at 4.6248%.

Persons: Brendan McDermid, BofA, Michael Hartnett, Hartnett, BofA's, Samuel Indyk, Amanda Cooper, Jane Merriman Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Investors, Thomson Locations: New York City, U.S, Treasuries

☆ BofA: Investors sell stocks, buy bonds in latest week; shun emerging markets
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: 1 min

LONDON, Oct 13 (Reuters) - Investors sold stocks and bought bonds in the week to Wednesday, Bank of America Global Research said in a note on Friday, while investors continued to shun emerging market assets. Equities saw a weekly outflow of $8.2 billion, BofA said, citing EPFR data, while investors favoured the relative safety of bonds, which saw inflows of $3.7 billion. Treasuries saw inflows of $7.2 billion, the largest weekly inflow since March 2023, BofA said. Investors dumped emerging market debt and stocks in the latest week, with equities seeing outflows of $4.3 billion, their largest weekly outflow since May 2022. Reporting by Samuel Indyk; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, Samuel Indyk, Amanda Cooper Organizations: Bank of America Global Research, Investors, Thomson

☆ Bonds 'in greatest bear market of all time' - BofA
▼ + stars: | 2023-10-06 | by ( Samuel Indyk | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - The rout in the fixed-income market is causing the "greatest bond bear market of all time", Bank of America Global Research said in a note on Friday, as the peak-to-trough loss in the U.S. 30-year yield hit 50%. In its weekly "Flow Show" report, BofA said bond funds saw $2.5 billion in outflows in the week to Wednesday, citing EPFR data. BoFA's report showed that the current loss in 30-year bonds from the peak in the market in July 2020 to now far outpaces that of any previous bear market, making this one what it calls "the greatest of all time" and the "humiliation trade" right now is buying bonds. BofA said its "Bull & Bear indicator", dropped to a five-month low of 2.6 on poor equity breadth, outflows from emerging markets, high yield bonds and developed market stocks. BofA said it prefers to "sell the rips" in the upper half of S&P 500's (.SPX) range of 3,600-4,200 as they are "convinced the bear market has unfinished business".

Persons: Dado Ruvic, BofA, BoFA's, Michael Hartnett, Samuel Indyk, Amanda Cooper, Sharon Singleton Organizations: REUTERS, Bank of America Global Research, Equity, Thomson Locations: U.S, outflows

☆ Investors shed stocks at fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. European equities logged their 28th straight week of outflows, with investors shedding $3.1 billion in this latest week. Energy stocks recorded their largest weekly inflow since March, totalling $600 million, alongside soaring oil prices.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper, Jane Merriman Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Federal Reserve, Bank of England, Energy, Investors, Thomson Locations: New York City, U.S

☆ Investors shed stocks at the fastest weekly rate in 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday. Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion, of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data. They also pulled $300 million from gold and $4.3 billion in cash. Year-to-date however, investors have ploughed $1 trillion into cash.

Persons: Brendan McDermid, BofA, Lucy Raitano, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Bank of America Global Research, Thomson Locations: New York City, U.S

☆ Investors’ China aversion is bad for everyone
▼ + stars: | 2023-09-07 | by ( Una Galani | ) www.reuters.com time to read: +7 min

FIERCE RESTRAINTAs a country on the cusp of high-income status, China ought to be a magnet for overseas investors. Companies in the MSCI China Index trade at 10 times their expected earnings for the next twelve months, half the level of the S&P 500 Index. However, assets following these mandates remain insignificant compared to the $1.3 trillion benchmarked to MSCI’s Emerging Markets Index. However, they have played a bigger role in the past decade funding Chinese companies through Hong Kong and U.S. listings. Chinese equities have a combined market value of $15 trillion, greater than Japanese, French, Indian and British stocks combined.

Persons: Xi Jinping, Goldman Sachs, Gavekal Dragonomics, Gavekal, Tesla, John Welling, Dow, Xi, Peter Thal Larsen, Thomas Shum Organizations: Reuters, U.S . Federal, People’s Bank of, Treasury, HK, Companies, Apple, Microsoft, BlackRock, China, WHO, International, U.S, Reuters Graphics Reuters, Dow Jones, Global, Thomson Locations: MUMBAI, China, People’s Republic, People’s Bank of China, United States, Hong Kong, U.S, Gulf, Asia, North America, Shanghai, Shenzhen

☆ Exodus of capital from China signals 'seismic' change in global flows as investors grow wary of autocratic regimes
▼ + stars: | 2023-08-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China's capital exodus is among the worst seen by emerging markets, said Robin Brooks, chief economist at IIF. That's as global investors have grown wary of autocratic regimes, he tweeted on Sunday. "The change in global capital flows is seismic. "But China has now seen consistent and large outflows for the past 18 months, as investors grow wary of autocracies." Global markets look at China in a new light," Brooks said in a separate X post.

Persons: Robin Brooks, Brooks, Ukraine that's, Adam Posen Organizations: IIF, Service, Institute of International Finance, hemorrhaging, CSI, Administration of Foreign Exchange, EPFR, Peterson Institute for International Economics, Foreign Affairs Locations: China, Wall, Silicon, Ukraine, outflows

Aug 25 (Reuters) - Strategists at BofA Global Research see second-half "trouble" for technology stocks even as the sector took in its largest inflow in 10 weeks, the firm said in a note on Friday. BofA pointed to the correlation between a surge in central bank liquidity and the Nasdaq over the past 15 years. "We say tech = H2 trouble rather than era of new AI rules," BofA said in the note. In the latest weekly data, the tech sector saw a $2.3 billion inflow, its largest inflow in 10 weeks, BofA said. Emerging markets debt meanwhile lost out, BofA said, seeing the largest weekly outflow since the collapse of Silicon Valley Bank in March.

Persons: Michael Hartnett, BofA, Lewis Krauskopf, Dhara Ranasinghe, Alistair Bell Organizations: BofA, Research, Nasdaq, U.S . Treasury, Silicon Valley Bank, Thomson Locations: U.S, Silicon, New York, Amsterdam

Nvidia shares, which had run up in the days leading up to its report, climbed more than 6% on Thursday but pared gains to end the day little changed. However, Nvidia's stock buyback - the fifth-biggest repurchase announcement among U.S.-based companies this year, according to EPFR - surprised some investors. Despite the staggering dollar amount, Nvidia's buyback amounted to only 2.1% of its nearly $1.2 trillion market value, or buyback yield, as of Wednesday. Indeed, some investors welcomed Nvidia's buyback decision. "It’s a show of confidence," said Francisco Bido, senior portfolio manager for F/M Investments' large cap focused fund, which holds Nvidia shares.

Persons: Dado Ruvic, Lip, Daniel Morgan, Morgan, Refinitiv, Tom Plumb, Plumb, buyback, Howard Silverblatt, Dow, Daniel Klausner, Houlihan Lokey, Nvidia's, Francisco Bido, Lewis Krauskopf, Chibuike Oguh, Lance Tupper, Echo Wang, Stephen Nellis, Ira Iosebashvili, Matthew Lewis Organizations: NVIDIA, REUTERS, Nvidia, Companies, Wealth Management, Synovus, Plumb Funds, Arm Holdings, Dow Jones, Apple, Tech, Investments, Thomson Locations: New York, San Francisco

☆ Here's why trillions of dollars in money market funds may not restart the stock market rally
▼ + stars: | 2023-08-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

The 2023 stock market rally caught many investors off guard, with mountains of excess cash sitting in money market funds. "Money market balances are building up, which is unusual given how much the stock market has rallied recently. And history suggests that money market funds are not always fuel for a buy-the-dip trend to support a late-stage rally. Through that lens, the growth of money market funds in 2023 can also be linked to the regional bank crisis earlier this year. Clissold said discussions with wealth advisory clients suggest that "some of that money market fund money does leak into the stock market," albeit over time.

Persons: Emmanuel Cau, Callie Cox, Cox, Todd Sohn, Sohn, Ed Clissold, Ned Davis, Clissold, John Tobin, Dreyfus, I'm, corporates, Tobin Organizations: Bank of America, EPFR, Investment Company Institute, Nasdaq, Barclays, Money, Federal Reserve, Ned, Ned Davis Research, BNY Mellon Investment Management, CIO Locations: U.S

☆ Investors' dash to cash may have peaked - BofA
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 21 (Reuters) - Investors' rush to the safety of cash, a dominant theme in capital flow data this year, may be peaking, Bank of America global research said on Friday. (.SPX)Tech stocks have seen strong inflows for the past eight weeks, BofA said, and high yield bonds saw their third weekly inflow in the week to Wednesday versus outflows from investment grade bonds. The weekly data, however, showed $7.5 billion of flows into cash, as well $1.4 billion to bonds, $600 million from gold and $2.1 billion from stocks. Bank loans saw inflows of $400 million, the most since May 2022, and Japanese equities saw their seventh week of inflows, its longest streak since January. Reporting by Alun John; Editing by Amanda Cooper and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: BofA, BofA's, Alun John, Amanda Cooper, Kim Coghill Organizations: Bank of America, Silicon Valley Bank, Tech, Bank, Thomson Locations: U.S, United States

☆ Cash assets under management reach 'monster $7.8 trillion', Bank of America says
▼ + stars: | 2023-07-07 | by ( Lucy Raitano | ) www.reuters.com time to read: +2 min

LONDON, July 7 (Reuters) - Investors globally ploughed more money into cash funds in the week to Wednesday, with total cash assets under management reaching a "monster" $7.8 trillion, according to a report from Bank of America (BofA) Global Research. Inflows into cash funds totaled $29 billion in the week to Wednesday, while global investors also bought $13 billion of equity funds and $9.8 billion of bonds, BofA said citing figures from funds data provider EPFR. Fears about a looming recession have kept many investors holding large cash positions throughout the first half of this year, even though the surprising resilience of the global economy has helped equity markets to rally sharply. The BofA data captures flows in the week to Wednesday, before key U.S unemployment data on Thursday raised expectations that the Federal Reserve will resume rate hikes in July after June's pause. The data caused a sharp selloff in which equity markets tumbled and short-dated bond yields on both sides of the Atlantic climbed past March levels to post-financial crisis highs.

Persons: BofA, Lucy Raitano, Alun John, David Holmes Organizations: Bank of America, Research, Federal Reserve, Thomson

☆ Tech shares see biggest-ever weekly inflow on AI boom-BofA
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Stocks in general saw $14.8 billion of inflows, the largest weekly inflow since February. Investors are chasing a "summer rip tide into tech and stocks", BofA analysts wrote in a note, which referred to an AI "baby bubble", though they said they themselves remain bearish due to the impact of higher interest rates causing liquidity to tighten. Cash funds, normally in demand when investors are nervous, also saw inflows of $11.3 billion, their sixth straight week of inflows, while gold funds saw $200 million of outflows, according to BofA. They describe the trade as: "Buy HSI sell AI". Reporting by Alun John; Editing by Amanda Cooper and David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: BoFa, Stocks, Cash, BofA, Alun John, Amanda Cooper, David Holmes Organizations: Technology, BofA Global, Tech, Nasdaq, Nvidia, Microsoft, Google, Meta, Hang Seng Tech, Thomson Locations: China

☆ Why the regional bank crisis could help fuel a shift to active ETFs
▼ + stars: | 2023-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The Vanguard Small-Cap Index ETF (VB) is down 10% over the past three months, and the SPDR S & P Regional Banking ETF (KRE) has plunged 40%. VB 3M mountain Passive small-cap funds like VB have been hurt by the regional banking crisis. "Of the 130+ passively managed small-cap ETFs, the average Financials sector exposure is 16%. Small-cap funds is one category where active funds should have plenty of room to grow, Sohn said. Research shows that very few active managers can consistently beat index funds, and the index funds are almost always cheaper for investors by expense ratio.

☆ Investors pile into cash, but snap up Chinese stocks in tricky markets
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 28 (Reuters) - Uncertainty over the economic outlook and the banking sector prompted investors to move money back into cash and gold in the week to Wednesday, according to BofA Global Research. But the current environment is tricky to trade, as evidenced by a push into perceived risky assets such as tech stocks and the largest inflows into Chinese equities in well over a year, BofA's note, which cited data from EPFR, said on Friday. There were $52.3 billion of inflows to cash funds in the week, a resumption of inflows after one-off outflows a week earlier, and also $200 million of inflows to gold. There have been $634 billion of inflows into cash in the year to date compared to $11 billion for the whole of 2022. Meanwhile, in the week to Wedensday there were $6.1 billion of inflows to Chinese equity funds, the most since January 2022, and $1.2 billion of inflows to tech funds, the most since November 2022.

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