Markets This Week: Where Did The Money Go?August 12, 2011 6:19 pm
Billions of dollars were pulled out of stock funds this last week. But where did it all end up? We spotted this today:
“To take shelter from the turmoil this, investors looked for safety in less risky and volatile assets such as Treasuries, despite low yields and S&P’s downgrade.
They poured nearly $48 billion into money market funds, which are heavily exposed to short-term Treasuries, the most since January 2009, and $749 million in broader U.S. Treasury funds, the largest inflow since June 2010, Lipper data showed.
Investors also added $1.6 billion to precious metal funds, as gold prices soared to record highs above $1,800 an ounce.”
Statistics Source: CNN Money