The traditional 60% stocks and 40% bonds portfolio has had the best start to the year since 1991, according to Bank of America, after one of the worst years on record.
last week threatening the narrative that economies and inflation are cooling. The Vanguard bond ETF has fallen almost 1% over the last week.
Investors put $7.4 billion into bond funds while pulling $7.4 billion from stocks over the last week, according to BofA's Flow Show report. Bonds have seen inflows for the last six weeks, BofA said. The week before last, investors put $7.8 billion into bonds while also putting $16 billion into stocks.
"We believe bonds will have a tough decade but they will post positive returns in 2023," BofA investment strategist Michael Hartnett said in the report. "Quite simply everyone expects Fed to cut and politicians to panic via more stimulus checks, rebates, debt forgiveness, at the first blush of recession."Stock outflows from Europe resumed, at $0.7 billion. And tech stocks saw their first inflow for 11 weeks, at $1 billion.
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