Bank of America: Continued Inflows into US Stocks, Tech Sector Sees Record High Fundraising

Data from Bank of America shows that US equity funds have seen inflows for the 11th consecutive week, marking the longest streak since December of last year. Notably, tech funds have set a new historical record for weekly fundraising. According to EPFR global data cited by Bank of America, for the week ending June 10, equity funds had a net inflow of $31.5 billion, while bond funds saw a net inflow of $20.8 billion. Conversely, money market funds experienced a net outflow of $2.5 billion, commodities-related assets had a net outflow of $2.3 billion, and cryptocurrency assets faced a net outflow of $700 million.