Flows to stocks funds over the past week had helped lift total inflows into equities to $1.0 trillion, BofA said, citing EPFR data.

Investors ploughed $13.2 billion into equity funds in the week to Wednesday, though fixed income inflows slowed and precious metals funds lost money as markets grappled with the prospect of rising yields and inflation, BofA said on Friday.

Flows to stocks funds over the past week had helped lift total inflows into equities to $1.0 trillion, BofA said, citing EPFR data. Meanwhile fixed income funds saw the smallest weekly inflows in four weeks at $6.2 billion, while cash funds raked in $7.8 billion.

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“10-year U.S. real rates now -4.6% , a level in the past 200 years that has been associated with panics, inflations, wars & depression, and a level today increasingly responsible for froth in crypto, commodities, and U.S. stocks,” said Michael Hartnett at BofA.

U.S. equity funds took in $3.3 billion while emerging equities almost matched the intake at $2.7 billion. However, emerging market debt, a lightning rod for higher global yields, suffered the first outflow in four weeks at $900 million, BofA found.

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