BofA Says Rate Worries Spark Biggest Stock Outflows This Year
- Global equity funds see biggest weekly outflows since December
- Hartnett sees risk of hard landing on higher-for-longer rates
This article is for subscribers only.
Investors are dumping equities at the fastest pace since December as the prospect of higher-for-longer interest rates raises the risk of a recession, Bank of America Corp. strategists say.
Global equity funds had outflows of $16.9 billion in the week through Sept. 20, according to a note from the bank citing EPFR Global data. US stock funds led the exodus, while in Europe, redemptions reached 28 weeks.