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Jittery markets see bond funds enjoy largest weekly inflows since Nov 2021

Bond funds recorded their largest weekly inflow since late 2021 while equity funds were sold off, suggesting investors are becoming increasingly risk adverse against a darkening outlook for the global economy.

Investors put $11.7 billion into bonds in the week to Wednesday – the biggest such inflow into fixed income since November 2021, BofA said on Friday in a research note citing EPFR data.

Over the past three weeks the bank’s private clients bought bonds in the largest quantities since 2012, BofA said.

Reflecting a pivot away from riskier assets, equity funds suffered weekly outflows of $2.6 billion, with Europe clocking its 25th week of negative equity flows.

Bucking the trend, financial equities recorded its first inflow since March 2022, raking in $1 billion, while investors bought $1.2 billion of consumer equities – the biggest inflow in ten weeks.

BofA analysts also said their ‘Bull & Bear’ indicator, which seeks to track market trends, remains unchanged at “extreme bearish” level.
Source: Reuters (Reporting by Lucy Raitano, editing by Karin Strohecker)

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