Net flows into government bond exchange traded funds hit a record high in May as deteriorating economic sentiment led investors to batten down the hatches.
Purchases of sovereign bond ETFs surged to $26bn, according to data from BlackRock, up from $15.9bn in April and far ahead of the previous monthly record of $18.5bn, set in December 2018.
The swing to the historically low-risk assets deepened investors’ defensive pivot after net inflows to ETFs as whole slumped to a two-year low in April.
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