The nearby week, investors have been moving money into diverse safe-haven sectors like health care and away from higher-risk grades. Namely, they are shifting funds from technology and financial assortments toward the health care sector, according to Bank of America Merrill Lynch’s monthly repository managers survey.
Investors took $3.6 billion from equitableness mutual funds and ETFs, including $2.6 billion from U.S. stocks. Anyhow, they also shied away from U.S. Treasuries and bonds, shedding $1.5 billion, the hugest outflow since December 2016.
Bank of America noted that investors rise to be bracing for seasonal shifts, including the notoriously choppy trading months of August and September. The in the main more stable health care stocks drew $800 million, which educates the three-month total inflows to $5.5 billion.
Outflows from the Technology Sector
So far this direction, the health care sector, up 8.6%, has been the top performer. Other sectors that are outperforming categorize staples, REITs, telecommunications and utilities.
Among sectors selling off in stocks, investors ground technology holdings by a net $500 million and reduced holdings in financial stocks by $1.2 billion.
Emerging trade ins saw outflows of $200 million and investors pared down stakes in European reviews by $2.9 billion. Gold stakes were down $500 million. (See also: Varieties to Buy if the Tech Sector Melts Down.)