For The First Time In A Year, Investors Pile Into Europe Funds

Europe Funds

After several months of steady flows into equity funds, and the S&P 500’s streak of record high closes, the Bank of America Merrill Lynch Bull Bear indicator has jumped to seven, three points under its extremely bullish high of 10.

The indicator has now gone on a one-year round trip from the February 2016 lows of zero, which marks extremely bearish territory. Bank of America remains long equities until the indicator reaches eight, a contrarian sell signal.

• Daniel Loeb: Hedge Funds and Investment Approach

• 2016 Hedge Fund Letters

The Bull Bear indicator, which is updated weekly and published in Bank of America’s Flow Show report compiled by Michael Hartnett, Chief Investment Strategist at the bank, is based on...