Weekly statistics on fund flows from Bank of America revealed that investors bought shares of financial companies and the energy sector last week, to initiate allocations in centres before US President-elect Joe Biden announced a stimulus package of $ 1.9 trillion.
The US investment bank said, based on EPFR data, that trading based on the economic recovery saw stocks record flows of $26.8 billion, with the energy sector attracting $ 3.6 billion, the second-highest value ever.
Investors pumped $ 1.8 billion into inflation-protected Treasury notes amid rising inflation expectations. In the United States, 10-year Treasury inflation-protected notes are now priced at an average annual inflation rate of 2.09% for the next 10 years.