Investors shed stocks at the fastest weekly rate in 2023
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2023-09-22 19:52
LONDON Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of

LONDON Investors sold stocks at the fastest weekly rate this year in the week to Wednesday, Bank of America Global Research said in a report on Friday.

Equities recorded a weekly outflow of $16.9 billion, while investors bought $2.5 billion, of bonds, which recorded a 26th straight week of inflows, BofA said, citing EPFR data.

They also pulled $300 million from gold and $4.3 billion in cash. Year-to-date however, investors have ploughed $1 trillion into cash. BofA described the mindset as "cautious & “paid to wait”.

Meanwhile, they have put $147 billion into U.S. Treasuries so far this year.

BofA's bull & bear indicator, a measure of market sentiment, fell to 3.4 from 3.6.

(Reporting by Lucy Raitano; Editing by Amanda Cooper)

Tags flows baml epus finance markets