Investors are piling into bonds but shunning developed market stocks

Photo by Mark Tipple / Barcroft Media / Getty Images Whether in developed or emerging markets, investors continue to pile into bond funds at present. This is no better demonstrated than in the chart below from Citibank. It tracks cumulative fund flows into bond, equity and money market funds going back to 2007, using data supplied by EPFR Global. The solid blue line, indicating flows into developed bond market funds, currently sits at a fresh post-GFC high, the exact opposite to the move seen in...