Investors bought U.S. Treasuries for the 36th straight week in the week to Wednesday even as their prices continued to tumble, and sold risky assets like stocks, BofA global Research said, saying sentiment was at "extreme bearish" levels. In a sign of the current volatility in markets, flows out of cash equivalent money market funds in the week were $108.9 bln, the most on record, a reversal of trend for much of this year which saw investors pouring well over $1 trillion into cash.
Nonetheless, there were $5.3 billion of flows into Treasuries in the week, the 36th straight week of inflows, the longest such streak since August 2010, BofA said, as investors continue to hope that bond lows have been reached.
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