Investors leave stocks, love bonds

In the 3 weeks ending October 7, investors pulled an average of more than $15 billion per week from equity funds (mutual and exchange-traded). The Backtest Engine shows this has been a constant theme since May, but prior to that it only triggered near the market bottoms in August 2011 and December 2018 during the past decade (it also triggered early during the financial crisis). They shoveled money into bond funds, which attracted more than $25.7 billion during the first week of October alone. That's the 3rd-highest weekly inflow out of all 835 weeks since 1997.