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BofA Says Recession Fears Prompt Investors to Dump Stocks Again

  • Bond funds see biggest inflows in 14 weeks: BofA’s Hartnett
  • Strategist sees range-bound S&P 500 before further declines
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Nomura's Rob Subbaraman on Recession Risks

Investors are hoarding cash and hiding in US Treasuries as they dump equities amid fears that the US economy is headed for a recession.

Nearly $63 billion flowed into cash in the week through July 6, while global equity funds had redemptions of $4.6 billion, according to Bank of America Corp. note citing EPFR Global data. US stock funds still saw their second week of additions, while global bonds had their biggest inflows in 14 weeks at $2.4 billion thanks to the buying of Treasuries and government debt, Bank of America said.