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Investing.com -- Equity funds globally recorded $10 billion in outflows over the past week, according to a research note from Bank of America (NYSE:BAC), which highlighted investor caution despite broader optimism in risk markets. 

Meanwhile, bond funds attracted $15 billion, marking continued appetite for fixed income assets.

U.S. equities are said to have led the equity exodus with the “biggest outflow in 11 weeks” at $9.8 billion, while European equity funds faced their first weekly redemptions in more than two months, shedding $600 million. 

All major U.S. investment styles saw redemptions, including $9.9 billion from large caps, $1.3 billion from growth, $900 million from value, and $800 million from small caps.

Despite the retreat from stocks, gold saw strong inflows of $1.7 billion, while crypto funds added $800 million. 

BofA’s analysts noted this flow pattern reflects a shift “back to Goldilocks,” with markets pricing in an end to trade war concerns and expectations for tax cuts, though they cautioned that any fresh upside in U.S. equities will require broader participation beyond tech.

Credit reportedly saw robust interest, with $7.8 billion flowing into investment-grade bonds and $2 billion into high-yield. Emerging market debt posted its fourth-largest weekly inflow ever at $3.8 billion, marking an eighth consecutive week of additions.

The BofA Bull&Bear Indicator jumped to 5.2 from 4.4 — its largest gain since October — supported by “strong inflows to HY bonds&EM assets” and “robust credit market technicals.”

This content was originally published on http://Investing.com