July 17, 2020 / 7:35 AM / 21 days ago

Investors chase risky assets as stimulus measures offset virus worries - BofA

LONDON (Reuters) - Investors pumped money into riskier bonds and equity funds, BofA’s weekly fund flow statistics showed on Friday, as unprecedented stimulus measures helped offset worries about rising COVID-19 case numbers in the United States.

The policy support encouraged investors to pour money into riskier debt instruments, with emerging market debt seeing inflows of $1.9 billion (£1.51 billion), the largest in five weeks, while safe-haven government bond funds saw $3 billion outflows.

The investment bank said that in the week to July 15, $9.3 billion went into bond funds while $4.8 billion was channelled into equity funds. World stocks .MIWD00000PUS are just 6% away from touching fresh record highs.

Investors meanwhile withdrew $77.9 billion from money market funds, BofA said, noting that the latest week included a July 15 tax deadline in the United States.

Reporting by Thyagaraju Adinarayan; Editing by Hugh Lawson

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