Beginning of the end: BAML sees S&P 500 rally topping out in second quarter
Updated : April 05, 2019 03:46 PM IST
The forecast was published in the bank's weekly report on fund flows that showed investors continued to shun US and European equities, pulling $7.7 billion from stocks in the week to April 3 and piled further into bond funds adding $11.4 billion. The report is based on EPFR data.
Some $7.5 billion was ploughed into investment grade bonds, $1.3 billion into high-yield bonds and $1.3 billion into emerging market debt.
Global equities have been on a tear this year, bouncing back from the massive rout towards the end of 2018 after US and European central banks took a more dovish stance on rate policy and on hopes of an imminent US-China trade truce.
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