Global stocks saw higher inflows amid the improvement in risk sentiment with reports that the Omicron variant will not be as big of an upset as earlier expected, Reuters reported.
Data collected by Refinitiv showed that investors bought $33-billion worth of funds in the week ending December 22, reflecting a reversal of the $13.1-billion outflows recorded in the previous week.
Equity funds in the United States recorded a $27.5-billion inflow during the same week, while those in Asia generated $1.8 billion. Meanwhile, European equity markets reported $1.5 billion in outflows.
The recovery in global stocks comes after strong earnings reports and updates that Moderna Inc.’s vaccine is effective in boosting protection against the Omicron variant.
Global bond funds generated $5.4 billion in the same period, following outflows the previous week.