(Bloomberg) — The Federal Reserve’s dive into corporate debt on Tuesday aligns the U.S. central bank with money managers around the world pivoting toward America Inc.’s bonds and away from its shares.Exchange-traded funds investing in credit saw $2.4 billions of inflows in the past week, compared to outflows for equities, data compiled by Bloomberg show.Funds targeting American stocks posted $9.3 billion of outflows in the period ending May 6, the most in six weeks, according to a Bank of America note citing EPFR Global data. The six-week inflow for high-yield bonds hit a record $32 billion.It’s the “follow the Fed” …read more
Source:: Yahoo Finance
