Market participants spurned cash this week in the biggest exit in more than a year and piled into equities on bets that the Federal Reserve will remain investor-friendly, according to Bank of America Corp.
Money-market funds saw an outflow of about $62 billion in the week through Wednesday, the most since July 2020, BofA said in a note, citing EPFR Global data. Investors put $51 billion into stocks, the largest addition since March, and $16 billion into bonds.
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September 17, 2021 at 05:35PM
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Stocks Get 'Monster' Inflows as Traders Exit Cash on Fed Relief - Bloomberg
"Exit" - Google News
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