A string of recent data points suggest the U.S. economy is
performing strongly, which BofA analysts said means it is
"mission very much unaccomplished" for the U.S. Federal Reserve
despite its 450 basis points of monetary tightening in this
cycle so far.
"Fed tightening always 'breaks' something," they add.
Emerging market debt funds saw outlows of $700 million, the largest weekly outflow in 14 weeks, according to the report which attributed the decline to debt investors reducing risk.
High yield - or junk - debt saw outflows of $2.6 billion,
the largest in eight weeks, and there were $5.5 billion inflows
to bonds, $1 billion inflows to cash, $300 million to equities
and $45 million to gold.
(Reporting by Alun John; editing by Amanda Cooper)
