Bond funds worldwide post biggest outflows in two years: BofA
[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.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Hot stock: UOI surges to over 6-month high amid heavy trading
OCBC’s Q1 profit up 5% to S$1.98 billion; CEO confident about 2024
Europe’s rush for rate cuts shifts global market power away from US
A$90 billion Australia pension reviews investments as Israel-linked firms face pressure
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
Latest Singapore 6-month T-bill offers cut-off yield of 3.7%