BofA Says Investor Capitulation Yet to Show Up in Equity Flows
- Hartnett remains bearish, sees new lows for stock markets
- Stocks, cash see weekly inflows; gold, bonds have outflows
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Equity funds are still seeing inflows despite deeply pessimistic sentiment, with “final capitulation” not yet here, according to strategists at Bank of America Corp.
Global stock funds had inflows of $9.2 billion in the week through Oct. 19, according to a note from the bank citing EPFR Global data. Cash funds saw additions of $14.5 billion, while $12.2 billion left bonds. Gold had redemptions of $1.5 billion, the data show.