Melt up? More money poured into stocks in past five months than last 12 years

Melt up? More money poured into stocks in past five months than last 12 years

The Edge Markets - World·2021-04-10 15:07

LONDON (April 10): Equity funds have attracted more than half a trillion dollars in the past five months, exceeding inflows recorded over the previous 12 years, according to data from BofA, which has likened the stampede to a "melt-up" in markets.

The flows are also raising fears of a pullback from record highs, given valuations are at the highest since the dotcom bubble of the late 1990s, with the S&P 500 trading at nearly 22 times forward earnings.

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