Investor flight from funds with Treasury holdings biggest in 10 weeks
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New York
AMID a surge in global bond yields, investors worldwide pulled US$1.9 billion out of funds that mainly holdUSTreasuries in theweek ended May 13, marking the biggest outflows in 10 weeks, a Bank of America Merrill Lynch Global Research report showed.
Bond funds overall posted US$16 million in outflows, marking their first outflows in 19 weeks, according to the report, which also cited data from fund tracker EPFR Global. Mortgage-backed securities funds posted US$48 million in outflows, their first in 30 weeks.
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