The third quarter of 2019 clearly belonged to safe-haven assets: Bonds. A slew of uncertainties, especially related to global growth, with fears of a recession looming large, kept investors away from the riskier asset class: Equities.
“The third quarter ended as it began, with EPFR-tracked equity funds experiencing net redemptions and bond funds net inflows that took their year-to-date totals to -$230 billion and +$481 billion, respectively, as investors continue to brace for a cyclical downturn that they have been anticipating for the better part of four years. In recent months, their outlook has been shared by the world’s major central banks," fund-tracker EPFR Global said in a report on 3 October.
