FYI: nvestors are liquidating their investments in funds that own some of the safest short-term debt and buying stocks and longer-term bonds, yet another sign that the dovish stance by central bankers is stoking appetite for risk.
Short-term debt provides a safe place to stash cash during times of market stress. Exchange-traded funds that invest in those securities raised money at a record clip late last year when stock-market turbulence surged. Now that tide has reversed. The latest Morningstar data show that short-term debt ETFs have seen two consecutive months of outflows, and investors are instead snapping up riskier assets.
Regards,
Ted
https://www.wsj.com/articles/feds-about-face-hits-short-term-bond-investments-11551873600?mod=md_mf_news
