Investors hedging, worry about exuberance, as US risks rise

Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 27, 2020.

NEW YORK: Signs of trepidation over the lasting impact of the U.S. coronavirus pandemic are growing on Wall Street, fanned by resurgent case numbers, the prospect of a slower rebound in growth and rising political uncertainty.

As a U.S. equity rally stalled this week, investors poured a net $24.5 billion into bonds, the third largest weekly inflows ever recorded, while pulling $3.8 billion out of stocks, according to BoFA Global Research.