LONDON, Sept 22 - 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”.BofA's bull & bear indicator, a measure of market sentiment, fell to 3.4 from 3.6.
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