BofA Says Record Rush to US Stocks Ignores Stagflation Risk
- Investors pour over $56 billion into US equities, led by tech
- Inflation still high globally and labor market cracking: BofA
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Investors are dismissing the risk of stagflation, sending record flows into US equities, according to Bank of America Corp.
US equity funds got $56 billion in the week through March 13, strategist Michael Hartnett wrote in a note, citing EPFR Global. Technology stocks had the largest inflow among sectors, at $6.8 billion, rebounding from a record outflow.