Investors flocked back into equities at the fastest pace in about eight months on signs of cooling inflation, but Bank of America Corp. strategists warn the rally will fizzle out due to earnings risks and staunchly hawkish central banks. Global stock funds saw inflows as a slower-than-expected U.S. inflation report initially fueled bets that the Federal Reserve could signal a slowdown in the pace of rate hikes. But stock market moves have since been subdued as Fed officials indicated more scope to raise rates before they see a meaningful slowdown in consumer prices.
- PWC