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US equities post longest outflow streak since 2004

Mutual funds appear to be pivoting away from a richly-valued US market

US equities post longest outflow streak since 2004

Investors pulled $2.6bn out of US equity funds in the past week, marking the 10th straight week of withdrawals — the longest streak of outflows from American stocks since 2004.

According to the latest research from Bank of America Merrill Lynch, mutual fund investors have now pulled $30bn from US stocks since late June, while investing a net $36bn in markets outside the world's largest economy.

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