U.S. equity funds saw an $16.2 billion outflow, the biggest since April, the latest flow data from BofA also showed.

Bond funds also saw outflows, to the tune of $2.4 billion, while cash funds attracted $31.1 billion inflows and gold funds added $59 million, BofA said citing EPFR data.

In its weekly note, BofA noted that outflows from credit funds in 2022 of $316 billion have unwound all the inflows of 2021. It added that while equity funds have seen inflows this year of some $207 billion, this was down from the "euphoric inflows" seen last year.

In emerging markets, BofA said bonds had a 15th week of outflows, losing $500 million, while equities attracted $1.1 billion of inflows.

BofA's bull & bear indicator meaning jumped to 2.0 from 1.4, meaning a "buy signal" for risk assets is close to an end.

(Reporting by Dhara Ranasinghe, editing by Karin Strohecker)