Tech stocks and cryptocurrencies are attracting renewed investor interest, according to a survey by Bank of America Global Research. The week leading up to Wednesday saw the highest inflow into tech stocks since August, reaching $4.7 billion. This puts annualized inflows on track for a record $98.8 billion.
Cryptocurrency inflows also doubled to $2.4 billion in the latest week, fuelled by investor interest in exchange-traded funds and Bitcoin’s rise towards record highs.
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This trend is attributed to growing confidence in the US economy’s resilience and expectations of Federal Reserve interest rate cuts by mid-year.
Emerging-market stocks, however, saw their first outflow since November, with a net decrease of $1 billion, largely driven by a shift away from China-exposed funds.
