At $51.2 billion, stock funds attracted large
inflows in the week to Wednesday as investors cut their cash
holdings by $61.8 billion, the largest outflows from cash since
July 2020, BofA said, citing EPFR data. Bond funds saw inflows
of $16.1 billion.
"Monster reallocation cash-to-stocks as tax redistribution
threat recedes and the Federal Reserve is expected to remain
Wall Street-friendly," analysts led by Michael Hartnett, chief
investment strategist at the bank, said in a note, adding that
liquidity conditions remain the easiest since July 2007.
(Reporting by Saikat Chatterjee; Editing by Tommy Wilkes)
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