Investors amped up their bets on the fixed-income market during the latest week, adding cash to U.S.-based taxable-bond funds for the 17th straight week, Investment Company Institute data showed on Wednesday.
The move into U.S.-based bond funds, which has lasted more than a year, comes despite a risk of rising U.S. interest rates and as the Federal Reserve incubates a plan to cut its cache of bond holdings this year.
Fixed-income funds attracted $7.6 billion during the seven days through March 29, the trade group said, including $7 billion in taxable-bond funds and the remainder in municipal debt.