Record Weekly Outflows Cap Worst Year for Equities Since 2008

(Bloomberg) -- Investors have dumped equities at a record pace in the days since major central banks signaled they won't be deterred in their fight against inflation -- a fitting end to the worst year for world stocks since the global financial crisis. It Doesn't Mean He Has That Much Typical year-end trends contributed to the selling, strategists said. The figures from Bank of America Corp., Citigroup Inc. and Barclays Plc -- all citing EPFR Global data -- show investors also pulled out of bonds and cash funds in the week through Dec. 21. Bond funds, by comparison, recorded outflows of $257 billion, and Bank of America strategist Michael Hartnett has said he expects the asset class to outperform stocks in the first half of next year. 'The inflation versus recession debate, earnings outlook, China reopening and the Ukraine conflict will likely continue to dominate the market agenda.' With redemptions for 45 straight weeks, European funds are on course for their worst year ever aside from 2016.