A ‘very rare trend’ is taking place in the fixed-income market, led by a booming trade in AI data center bonds

The S&P 500 eked out a gain last week after four straight weeks of losses for stocks, but the market correction has sent many investors running for cover in bonds.

The move into bonds is no surprise given the ongoing market volatility and uncertainty over the impact of President Trump’s policies on the U.S. and global economy this year. But in the world of ETFs, the size of the recent migration into bonds is eye-opening, with bond funds taking in almost as much money as stock funds.

Bond…