Investors are rushing into consumer staples at a record pace: Individual and professional investors bought +$702 million in consumer staples stocks and ETFs last week, posting the 4th consecutive weekly inflow. Over the last 4 weeks, consumer staples have attracted +$3.6 billion in inflows. As a result, the 4-week average of purchases rose to +$915 million, the highest since data began in 2008. This is 17 TIMES higher than the 12-week average of +$54 million. Furthermore, the 4-week average of net flows as a % of market cap is up to 0.03%, an all-time high. Investors are rotating into defensive stocks.