Buyers plough cash into bonds, keep on with stocks-BofA

A man walks past the New York Stock Exchange on the corner of Wall and Broad Streets in New York City, New York, United States on March 13, 2020. REUTERS / Lucas Jackson / File Photo

LONDON, Aug 27 (Reuters) – Fixed income funds saw their largest inflows in seven weeks, with investors amassing investment-grade and US Treasuries over the past week, the BofA said on Friday.

Bond funds raised $ 13.3 billion, with investment-grade bond funds seeing $ 8.8 billion in inflows and US Treasuries withdrawing $ 2.5 billion from the week to Wednesday – the largest revenue in five weeks, the BofA said on citing on EPFR data.

Equities recorded inflows of $ 12.6 billion, with U.S. stocks benefiting from a third straight week of inflows of $ 6.2 billion.

Investors added cash to the stocks during a period when markets wavered on speculation about the start of the Fed’s throttling and concerns about economic growth amid the rapid spread of the Delta-COVID-19 variant.

Precious metals funds saw their largest outflows since March at $ 1.4 billion.

Reporting by Karin Strohecker Editing by Tommy Wilkes

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