In their flow show note Friday, BofA analysts told investors that there were strong inflows into treasuries for the 27th straight week.
$3.9 billion flowed into treasuries last week, keeping it on track for record inflows this year, according to BofA.
In their "tale of the tape" segment, the analysts stated that the U.S. 30-year mortgage rate of 7.6% is a 23-year high, while the U.S.-China yield spread of 150bps is at a 16-year high, and U.S. real yields at 2% have reached a 14-year high.
Other "flows to know" include $925B of inflows year-to-date in cash, already surpassing record inflows in 2020. Credit "saw the largest outflows from HY ($1.3bn) since May '23, and from EM debt ($2.1bn) since Mar '23 (SVB)."
Meanwhile, tech recorded its eighth straight week of inflows — $2B.