It would be an understatement to say retail investors have felt more comfortable as lenders since the end of 2008. They have moved in droves toward fixed income, buying up any and all sectors that were available. As with the shift out of equity investments, the move toward bonds was heavily influenced by the fear and panic that came with the near collapse of the global financial markets.
Investors injected roughly $385 billion net into taxable bond products in 2009 alone. Add in the net sales of municipal debt products, and total inflows for all bond mutual funds and exchange-traded funds ballooned to nearly $470 billion in one year.
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