BofA Strategists See U.S. Equity Outflows Just Getting Started
- U.S. large caps had largest redemptions since February 2018
- Morgan Stanley says higher rates to pressure global stocks
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Massive outflows from U.S. equity funds are just getting started as the Federal Reserve ramps up its hawkish rhetoric, according to Bank of America Corp. strategists.
In the week through April 20, investors pulled $19.6 billion from U.S. large caps, the largest exit since February 2018, the strategists wrote in a note dated Thursday, citing EPFR Global data. The outflow from broader U.S. equity funds was the biggest since December.