(Bloomberg) -- Investors dumped exchange-traded funds that invest in bonds ahead of yesteday’s Federal Reserve statement on concern officials would get closer to raising interest rates.
Investors pulled $6.1 billion this month from bond ETFs through March 16, or 1.9% of total fund assets, according to TrimTabs Investment Research data. If withdrawals continue at that pace it would surpass the record $8.6 billion monthly outflow those funds recorded in June 2013, after the Fed signaled when it might start winding down its bond-buying program.
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