“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 Trump 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.
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