The great rotation out of bonds and into stocks continued for the fifth consecutive month in October and put stock funds on pace for their highest sales since 2000.
Investors poured a net $45.5 billion into stock mutual and exchange-traded funds during the month, according to TrimTabs Investment Research. It's the fifth-highest month of net inflows for stocks ever.
Stock funds have now taken in $277 billion this year, the most since 2000, when stock funds took in $324 billion.
The rush into stock funds is coming at the expense of bond funds, which have the specter of rising interest rates hanging over them like a guillotine.
Investors pulled a net $17.8 billion out of bond funds during October. Since June, investors have pulled $140.6 billion out of bond funds.