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Investors turned to big purchases of two assets in particular ahead of Tuesday’s US presidential election. According to CNBC, the first of these is bonds and the second is bitcoin.
Uri Seliger, credit strategist at Bank of America, said there was a shift toward bond buying among U.S. fund investors last week. “Investments in both high-quality and high-grade bonds picked up significantly last week,” Selger said in a report sent to bank clients. he said. The bank’s analyst emphasized that there was an outflow of stock funds during the same period.
The demand for bonds is wide across different categories. Investment-grade corporate bonds, municipal bonds, mortgage-backed securities, long-term Treasuries and high-yield bond funds rounded out the top 20 with the highest fund inflows last week. On the other hand, it is believed that this is not an ‘escape from danger’ move. The reason has been cited as an exit from some short-term Treasury ETFs.
According to the news, another sign that they are taking more risks is the situation with cryptocurrencies. More than $2 billion was invested in BlackRock’s Spot Bitcoin ETF this week. Of this amount, $872 million was recorded in just one day.
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