BofA Spies Recession Risk in Treasury Rush, Shunned Credit
- U.S. debt sees $7.4 billion inflow, most in pandemic era
- Credit, TIPS dumped at fastest pace since April 2020
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After their worst start to a year in decades, Treasuries are reasserting their haven status and eclipsing the appeal of riskier assets -- a troubling combination for Bank of America Corp. strategists.
U.S. sovereign debt attracted $7.4 billion in inflows, the most since the coronavirus pandemic first struck, according to a BofA note citing EPFR Global data for the week through Wednesday.