by Lucy Raitano
LONDON, Aug 5 (Reuters) – Bond funds attracted $11.7 billion (€11.4 billion) in the week to August 3, the highest weekly amount recorded for this category since November 2021, while equity funds saw outflows, BofA statistics showed on Friday, suggesting investors are growing increasingly worried about the bleak outlook for the global economy.
Equity funds posted outflows of $2.6 billion, according to the study by the American bank, which is based on data from EPFR. This is the 25th week of fundraising.
Against the trend, stocks in the financial sector recorded their first inflow since March 2022 (one billion dollars) and consumer-related stocks were also favored by investors with subscriptions for $1.2 billion.
BofA analysts also said their “Bull & Bear” indicator of financial market sentiment remains at an “extremely bearish” level. (Report Lucy Raitano, French version Laetitia Volga, edited by Kate Entringer)
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