LONDON: Investors kept on injecting more cash into bonds and equities, BofA‘s latest fund flow statistics showed on Friday, as Wall Street hit new record highs and US government bond yields remained capped below 1.5%.
Fixed income funds attracted $13.2 billion and equities sucked in $9.6 billion in the week to Wednesday, while $25 billion left money market funds, the U.S. investment bank said, citing EPFR data.
This was the sixteenth straight week of inflows for bond funds with $1.1 billion going into U.S. Treasuries.
The first half of the year has proven most dynamic for investors with the “annualized inflow to stocks, TIPS, financials, materials & infrastructure funds all greater than cumulative inflows in prior 20 years”, BofA added.
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