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Stock Funds See Exodus as Recession Fears Grip Investors

  • Equity funds see $16.8b outflows while $23.5b exits bonds
  • Capitulation this year has been in bonds, not stocks: Hartnett

Global equity funds saw their biggest outflows in nine weeks as investors piled into cash amid fears that the US economy could be headed for a recession.

About $16.8 billion exited global stock funds in the week through June 22, with US equities seeing their first outflow in seven weeks at $17.4 billion, Bank of America Corp. said, citing EPFR Global data. Bonds saw redemptions of $23.5 billion, while investors moved $10.8 billion to cash and $0.6 billion to gold, the data show.