Investors pull more than $20-billion out of stocks as pessimism takes hold

, the biggest inflows since January 2018, Bank of America Merrill Lynch strategists said on Friday citing data from EPFR.

Despite big gains for stocks globally this year, positioning is decidedly negative with $66.8 billion outflows from equity funds year-to-date.Investors are hunting for yield, the strategists said, noting the ninth straight week of inflows to investment-grade bond funds – $6.6 billion this week – while high-yield bond funds drew in $3.2 billion and $1.2 billion went into EM debt.

The market is struggling to digest a rapid about-turn from the U.S. Federal Reserve on interest rates as economic growth disappoints globally and fears of a deflationary environment return. “Extraordinary abrupt end to central bank hiking cycle & Fed paranoia of credit event are uber-bullish credit & uber-bearish volatility,” the strategists wrote.

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U.S. federal ban on 'bump stocks' takes effect in daysDavid Lunsford is an avid gun owner with a firing range on his Texas spread. With bump stocks about to be banned by the U.S. government, he grudgingly decided to sell off his and let someone else figure out what to do with them. Well, they can kindly fuck right off, if they think they're above the law :) The gun obsession is ridiculous. In what way do you need a bump stock Idiots
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