off-the-wire

Investors swarm into cash as stocks, bonds decline-BofA

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 3 (Reuters) - Investors snapped up cash and bonds in the week to Wednesday, a report from BofA Global Research showed on Friday, while they shed equities and gold.


Cash funds saw inflows of $68.1 billion, BofA said citing EPFR data and noted that cash will be "as good as bonds & stocks" until the bear market comes to an end with an expected credit event.


Bonds saw inflows of $8.4 billion, while global stocks recorded outflows of $7.4 billion and investors pulled $900 million out of gold funds. Investors meanwhile shed $1.8 billion in emerging market debt and bought $2.4 billion in emerging market equities. BofA's bull and bear indicator - a measure of market sentiment - ticked up marginally to 4.3 from 4.2 the previous week. (Reporting by Lucy Raitano; Editing by Amanda Cooper)

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