Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Investing

Global markets in “unambiguous contrarian buy territory” – BofA

2022 05 20T095314Z 2 LYNXNPEI4J0BD RTROPTP 4 GLOBAL MARKETS JAPAN - Global Banking | Finance

LONDON (Reuters) – The trillions wiped off global markets in recent weeks has triggered a contrarian ‘buy’ signal from BofA’s closely-followed ‘Bull & Bear’ sentiment indicator, while emerging markets are seeing their toughest time since the peak of the COVID crash.

Fears that inflation and fast-rising rates will send major economies into recession have sent global markets in a downward spiral with global equities losing close to 18% since the beginning of the year. It is the worst start to a year on recent record.

BofA’s analysts said their ‘Bull & Bear’ indicator had now moved into “unambiguous contrarian buy territory”, given the huge redemptions in developed market stocks, riskier high-yield debt and emerging market bonds.

The week saw the largest ouflows from emerging markets debt since March 2020 and the biggest withdrawals from high yield bonds in 14 weeks, at $6.1 billion and $4.3 billion respectively BofA noted, citing EPFR data.

Across the equity space, Europe, which is being hit hardest by the Russia-Ukraine war, suffered a fourteenth week of withdrawals.

All in all, $5.2 billion exited world equities funds, while a seventh week of outflows from global bond funds saw $12.3 billion leave.

(Reporting by Julien Ponthus, editing by Marc Jones)

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post