**[Bank of America Warning: $166.4 Billion Flows into Money Market Funds in a Single Week, Cash May Not Return to Stocks Before Rate Cuts]** BlockBeats News, October 9 — Bank of America strategist Michael Hartnett stated that for the week ending October 7, money market funds attracted $166.4 billion in inflows, marking the largest single-week amount since April 2020. During the same period, bond funds and equity funds received $33.8 billion and $12.4 billion in inflows, respectively, indicating that investors are significantly increasing their allocation to cash-like assets. Hartnett pointed out that the current high-interest-rate environment makes cash itself highly attractive in terms of returns, and the massive scale of money market funds can no longer be simply viewed as "ammunition" waiting to enter the stock market. He summarized the current capital logic as "no rate cuts, no reduction in cash," and argued that only a sustained and significant monetary easing by the Federal Reserve would be more likely to drive large-scale capital outflows from cash-like assets. Recently, yields on U.S. 10-year and 30-year Treasury bonds have continued to rise, with the Federal Reserve raising the federal funds rate target range to 3.75%–4.00% in September. Against the backdrop of high cash yields and renewed attractiveness of bonds, the stock market is facing dual competition from cash and fixed-income assets. Hartnett also identified the U.S. midterm elections on November 3 as a key event that could trigger significant stock market volatility this year. He further cautioned investors to pay attention to risks such as the deterioration of market breadth in U.S. equities and the rise in long-term bond yields.