‘Clear signs’ global risk appetite is reviving
Institutional investment flows into developed country stock markets are a “clear sign that appetite for risk is reviving”, according to State Street Global Markets, the investment research and trading arm of State Street Corporation.
It said institutional flows on it cross-border Equity Flow Indicator (X-EFI) last week recorded their highest monthly reading since August last year, when the credit crunch started.
In its Weekly Research Notes research paper, the organisation said flows in the past month into developed markets were only higher on 28 per cent of occasions in the 11-year history of the X-EFI.
One month ago, developed market equity flows were “pallid”, and at the start of the year they were “wretched”, higher in 92 per cent of monthly readings.
Japan has seen flows at close to record levels in the last fortnight, it added.
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