MW: $19 billion surge into U.S. equities is biggest week since 2008
Investors have been piling into U.S. stocks at near record pace to start 2013.
a BofA Merrill Lynch Global Research report this week shows a $19 billion inflow into U.S. equity funds for the first full week of the year.
That’s the biggest surge since June of 2008 and the fourth highest since 2000, according to the report. Equities have seen inflows over the past 7 weeks, according to the report.
Money market funds have also seen big inflows, $17 billion. Such funds are gaining because of the expiration of the Federal Deposit Insurance Corporation transaction account guarantee, BofA said.
Commodities were the only asset class to see outflows in the first week of 2013.
