News Summary

• US equity funds shed $14.2 billion over the past three weeks, the largest outflow since January.
• Inflows are slowing worldwide, with global stock funds averaging $7 billion a week over the same period.
• Still, there's no indication of panic, with the Federal Reserve still debating a data-dependent interest-rate hike.
• "Blasé markets" and "bravado policy" are "a recipe for volatility," say BofA strategists.
• AI spending is rising, but there is little evidence yet of economy-wide productivity gains.