Global equity funds received $21 billion in the past week—their ninth-biggest inflow ever—as investors embraced the 'Trump trade', while money flowed out of bonds for seventh week in a row, Bank of America Merrill Lynch said on Friday.
U.S. stocks futures pointed to a sharply lower open for Wall Street on Wednesday, as a market that had been projecting an election victory by Democrat Hillary Clinton scrambled to recalibrate to an upset win by Republican Donald Trump.
The prospect of the European Central Bank eventually winding down its bond-buying stimulus programme rattled investors on Wednesday, dragging stocks lower in Europe and Asia and pushing up government bond yields.
European stock markets started this last day of the month and quarter sharply lower as concerns over Deutsche Bank intensified, which undermined sentiment in the financial sector once again. Deutsche shares tanked nearly 9% at the open and hit a new 33-year low. Investors were concerned by news that some hedge funds have begun to pull their business from Germany’s largest lender.