BofA Clients Turn Cautious, Flee From Stocks on Recession Risks

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Bank of America says clients are fleeing equities as the risk of an economic contraction remains high

Bank of America Corp.

’s clients are fleeing equities as the risk of an economic contraction remains high, strategistPrivate clients were net sellers of stocks for a second straight week in the five days through Aug. 2, while bond purchases were the strongest since October in the past two weeks, according to a note from the bank.

 

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