LONDON (Reuters) - Global equity funds have seen outflows of $10.3 billion in the past week as rising U.S.-China trade tensions prompted investors to take shelter in safe-haven government bonds.
About $3 trillion in value have been wiped off global equities in May as an escalating trade war between the world's two biggest economies stoked fears of a recession.
U.S. equities saw outflows of $8.4 billion, according to data from Bank of America Merrill Lynch (NYSE:BAC).
Investors continue to shun European equities, which have seen outflows in 62 of the past 64 weeks.
Barclays (LON:BARC) said on Thursday that investors' exposure to European equities is falling "precipitously" as the region remains "hostage to trade uncertainty and messy politics".
Bond funds had a 21st straight week of inflows with investors plowing in $6.9 billion for the week to May 29, BAML data showed.