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Fund managers dump stocks, buy into ‘secular stagnation’ theory: BofA Merrill Lynch

Chris Matthews
Fund managers dump stocks, buy into ‘secular stagnation’ theory: BofA Merrill Lynch

Fund managers in March allocated the smaller chunk of their holdings to equities since at any point since 2016, one indicator among several that they are embracing the theory of “secular stagnation,” according to Bank of America Merrill Lynch. ”There is simply no ‘greed’ to sell in equities,” wrote Michael Hartnett, chief investment strategist in a Tuesday note. Despite a surge in inflows last week, global equity funds have seen $46 billion in outflows year to date, BofA Merrill Lynch said last week.