More Cash Invested in Stock in 2021 Than Two Decades Combined
&gt; Investors have poured almost $900 billion into equity exchange-traded and long-only funds in 2021 -- exceeding the combined total from the past 19 years -- according to analysts at Bank of America Corp. and EPFR Global.<p>No discussion in the article about where this money came from. My guess is that it came from the direct covid payments and extended unemployment which amounted to ~$1.4 trillion.<p>Of course personal expenditures went down as well due to covid, but if you look at Personal Consumption Expenditures you&#x27;ll see it went from $14 bn in Feb 2020 (monthly) to $13.7bn to $12bn in March and April, but it quickly recovered. Today its 16,291, or 10% higher than the 2020-01-01 level.<p>date            PCE     MoM diff<p>2020-01-01 14,770<p>2020-02-01 14,785 0%<p>2020-03-01 13,762 -7%<p>2020-04-01 12,022 -13%<p>2020-05-01 13,058 9%<p>2020-06-01 13,889 6%<p>2020-07-01 14,129 2%<p>2020-08-01 14,271 1%<p>2020-09-01 14,482 1%<p><a href="https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;PCE" rel="nofollow">https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;PCE</a>