Last week, Yahoo Finance noted companies could “feel the economy weakening” despite economic data that suggested otherwise.
This week, investors indicated much of the same.
Bank of America Global Research’s Michael Hartnett publishes a closely-tracked weekly report on client fund flows for the firm, which offers a real-time indication on where investors are putting their money to work.
The firm’s latest report, published Friday, showed investors were buyers almost across the board last week, with $11.7 billion coming into bonds, $7.1 billion moving into stocks, and $4.3 billion coming out of cash holdings. Money also moved out of commodities last week.
With stocks on pace for their fourth-straight week of gains — which would match the longest win streak since November — it’s little surprise to see money coming back into the market.