Bank of America: The Reserve Board injected money to support technology...

Bank of America analysts wrote in a weekly report on fund flows, today, Friday, that the Federal Reserve (US Central Bank) will likely intervene to support financial markets if a dispute erupts over the outcome of the presidential election, in a move that will benefit technology stocks.

“The Federal Reserve’s injection of strong liquidity is likely due to an election dispute favorable to technology,” the report said. The report also expects the likelihood of a sweeping victory for the Democrats.

US President Donald declined

In September, he announced a pledge to a peaceful handover of power if he loses the November 3 election to his Democratic rival, Joe Biden, and said he expected the election battle to end before the Supreme Court.
Bank of America also said, based on data for the week ending September 30, from the cash flow tracking firm EPFR that technology stocks had resumed.

Polarization of flows after a correction seen in the Nasdaq index in early September.

Sentiment has improved in equity markets recently, while the bank’s “bull and bear” index rose towards a “bullish zone”.

Among other big trends in equity markets, the Bank of America report cited the largest inflow of funds to Japan in nine weeks, the largest inflow to emerging markets in four weeks and the largest influx of flows from Europe in 13 weeks.

In the rest of the asset classes, $ 2.1 billion flowed into bonds and $ 0.3 billion into gold, while $ 19.56 billion was drawn into cash.

These were the details of the news Bank of America: The Reserve Board injected money to support technology... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudi Aramco sets LPG contract prices for December