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Bank of America: Bond funds attracted record flows amid
Bank of America said investors pumped $ 23.2 billion into bond funds, a record amount, over the week ending Wednesday, as top-quality bonds accounted for the lion's share of inflows in a week that saw a sharp escalation of Iranian-American tensions.
Bank of America said in a report analyzing data from EPFR that investment-grade bond funds attracted $ 14.1 billion, the largest influx ever, while municipal bonds received $ 2.3 billion.
The tension between Washington and Tehran over the background of the killing of Iranian military commander Qassem Soleimani raised an increase in oil prices and led to the largest influx of resource funds in two years, as energy funds attracted $ 300 million.
Meanwhile, equity funds lost $ 500 million. European stocks suffered the largest exodus in 14 weeks, at a value of $ 1.7 billion.
