Strategic Insight is reporting that November mutual fund flows are still moving into income paying bond mutual funds, probably leaving maturing CD's. Here is their summary...
Flows into bond funds in November, although somewhat off from the blistering pace of the prior three months, were very robust at $38 billion. Driven by continued strong demand for income in a near-zero cash yield environment, bond fund flows have reached extraordinary levels in 2009. In contrast, notwithstanding a 4.8% rise in NAVs on average (asset-weighted) in November, stock/hybrid funds received only small inflows over the month, because of continued concerns about the sustainability of the global economic and stock market revival.