‘Sell Any Rip’ Seen Beating Buy-the-Dip as Treasuries Gain Favor
- Bond funds lure in $8.1 billion, stocks lose $7.2 billion: BoA
- Most visible sign of risk-off to date, Bank of America says
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Treasury funds have attracted the biggest inflows in more than two years in the strongest sign yet a risk-off mood is gaining momentum, according to Bank of America Merrill Lynch.
Some $4 billion went into government/U.S. Treasury funds in the week through April 4, the bank said in a report, citing data from EPFR Global. Investors pulled out $7.2 billion from stock funds, including $9.9 billion from the U.S. and $2.4 billion from Europe, while Japanese and emerging-market equity funds saw inflows.