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Home STOCKS Money market resources see biggest redemptions given that Dec 2019: BofA

Money market resources see biggest redemptions given that Dec 2019: BofA

LONDON: Money market cash noticed their biggest redemptions since December 2019 in the 7 days to Wednesday, BofA claimed in a report on Friday, although $7.1 billion was pulled out of equity funds.
BofA claimed its ‘Bull & Bear’ indicator was no extended in “buy” territory for the initially time given that March 17.
Buyers also pumped $15.3 billion into bond money and $2 billion into gold, the report showed.
BofA noted, however, that a present contrarian trade is to buy into rising market assets and commodities to take advantage of a weaker dollar.
In the week to Wednesday, rising market equity funds had shed $3.1 billion in their 20th straight week of outflows while creating financial debt cars experienced misplaced $1.9 billion.
This brings the full tally of outflows in 2020 for emerging market assets to $91 billion right after traders rushed to harmless havens as the coronavirus pandemic disrupted financial markets.
The Institute of Global Finance claimed on Wednesday that portfolio inflows to emerging markets had jumped to $32.1 billion in June from $3.5 billion in Could, the bulk of it in financial debt securities.

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