Investors Shift Record Amounts From U.S. Stocks to Bonds
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Investors shifted record amounts out of U.S. stock funds and into bonds, while withdrawing money from emerging-market equities for a 15th straight week, according to Citigroup Inc.
U.S. equity funds had $24 billion of outflows in the week to Feb. 5, according to a report today from the research unit of the third-largest U.S. bank. Withdrawals from stock funds worldwide totaled $28.3 billion, the report said, citing data from EPFR Global, a fund research company in Cambridge, Massachusetts. Money managers plowed $13 billion into U.S. bond funds, accounting for most of the $14.8 billion that flowed into debt worldwide. All the figures for the period are record highs.