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Investors poured record amounts into cash this year, according to Bank of America Corp. strategists, highlighting how a lot of market participants missed out on the best stock rally since 2019.
Cash funds attracted $1.3 trillion of inflows, dwarfing the $152 billion that flowed into global stocks, a BofA team led by Michael Hartnett said, citing EPFR Global data. Investors also staked more on US Treasuries than ever before, at $177 billion.
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