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[NEW YORK] Investors worldwide pulled US$10.3 billion out of bond funds in the week ended June 17, marking the biggest outflows from the funds in two years, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
Investment-grade bond funds posted US$2.1 billion in outflows, marking their first outflows in 78 weeks, according to the report, which also cited data from fund-tracker EPFR Global. Riskier high-yield bond funds posted US$4 billion in outflows to mark their biggest withdrawals since last December.
Stock funds attracted US$10.8 billion to mark their biggest inflows in three months, with all of the new cash flowing into exchange-traded funds. Funds that specialize in US shares attracted US$6 billion of the inflows into stock funds to mark their strongest demand in 13 weeks.