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Bond funds worldwide post US$3.8b outflows in latest week: BofA
[NEW YORK] Investors worldwide pulled US$3.8 billion out of bond funds in the week ended June 24, marking their third straight week of outflows and their biggest three-week outflows since July 2013, data from a Bank of America Merrill Lynch Global Research report showed on Friday.
Government bond funds, which largely invest in US Treasuries, posted US$1.4 billion in outflows to mark their ninth straight week of withdrawals. That marked their longest outflow streak since Jan 2013, according to the report, which also cited data from fund-tracker EPFR Global.
Investment-grade bond funds posted their second straight week of outflows, at US$1.9 billion. Stock funds attracted US$4.6 billion to mark their second straight week of inflows, with European stock funds attracting their biggest inflows in 11 weeks at US$3.4 billion.