BofA Keeps Risk-Off Stance on US Stocks Despite $92.3B Inflows

Cointime reports: Bank of America strategists led by Michael Hartnett maintained a risk-off stance on US equities, saying they will not turn more optimistic on financial conditions until the Federal Reserve ends rate hikes, the US 10-year Treasury yield falls below 4.5% and oil drops under $80 a barrel. Equity funds drew $92.3 billion over the four weeks to Wednesday, the largest inflow since June, Hartnett’s team said.