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Illustration: Lazaro Gamio/Axios

Investors pulled $153 billion out of mutual funds and ETFs for the week ending March 18, the largest outflows ever, data from the Investment Company Institute showed.

The state of play: The outflows were more than eight times higher than the previous week when investors pulled $19 billion from mutual funds and ETFs that included bond, equity, hybrid and commodity funds.

The intrigue: Investors pulled more money out of bond funds than out of stock funds by a magnitude of 10 to one, the data shows.

By the numbers: For mutual funds specifically, bonds saw their largest outflows ever, with investors pulling 1.9% of total January 2020 assets out of funds, ICI senior director of industry and financial analysis Shelly Antoniewicz tells Axios.

  • That was nearly double the previous high in percentage terms seen in October 2008 (1.1%) during the financial crisis.
  • The dollar value ($93 billion) pulled from bond mutual funds last week was more than five times the 2008 total ($18 billion).
  • Including bond ETFs, $114 billion was pulled out of bond funds during the week, according to ICI's data.

Quick take: The outflows from bonds likely reflect the fact that investors have loaded up on bond funds over the past two years. While equity funds saw their largest outflows on record in 2019, despite the S&P 500 gaining 30%, bond funds saw near record inflows.

Go deeper: Don't panic about the stock market

Go deeper

1 min ago - Health

A safe, sane survival guide

Photo: Luka Dakskobler/SOPA Images/LightRocket via Getty Images

We all know, it’s getting worse.

Reality check: Here are a few things every one of us can do to stay safe and sane in coming months:

Biden’s nightmare debut

President-elect Biden speaks in Wilmington on Nov. 24. Photo: Chandan Khanna/AFP via Getty Images

A dim, gloomy scene seems increasingly set for Joe Biden's debut as president.

The state of play: He'll address — virtually — a virus-weary nation, with record-high daily coronavirus deaths, a flu season near its peak, restaurants and small businesses shuttered by wintertime sickness and spread.

Using apps to prevent deadly police encounters

Illustration: Sarah Grillo/Axios

Mobile phone apps are evolving in ways that can stop rather than simply document deadly police encounters with people of color — including notifying family and lawyers about potential violations in real time.

Why it matters: As states and cities face pressure to reform excessive force policies, apps that monitor police are becoming more interactive, gathering evidence against rogue officers as well as posting social media videos to shame the agencies.