The flow of capital shows that billionaire Ken Fisher's institutions bucked the trend with $4 billion to bottom long-term US debt

Comparing the news, billionaire Ken Fisher's company of the same name appears to be betting that the longest-tenured US Treasury bonds will rise, bucking the trend and seeking to profit from the opportunities presented by yields close to a 20-year high. Earlier this month, Fisher Investments was the main driver behind BlackRock's record $4 billion in exchange-traded funds (ETF) investing in 20-year US Treasury bonds and above.

Meanwhile, BlackRock's other US Treasury bond fund with a shorter average term experienced an outflow of funds of a similar scale, indicating a shift in related funds to the longer end of the yield curve. A Fisher Investments spokesperson said the company was unable to comment on individual securities due to fiduciary obligations to customers. (Financial Services Association)