Saut: Scaling Back on Bonds
Jeffrey Saut submits:
Excerpt from Raymond James strategist Jeffrey Saut’s latest essay (published Monday, March 29th):
…Interestingly, [our] institutional accounts want to know what retail accounts were “doing,” while the retail accounts want to know what the institutions were doing. Accordingly, at least from my observations, order flow from retail investors suggests that they have under-played the current equity rally and are instead buying bond funds. In fact, ~70% of retail order flow into mutual funds has been into bond funds, and not short-term oriented bond funds, but long-duration bond funds.
Investing, Long Term Investment, stock market | admin March 30, 2010
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