Bank of America: Investors Flock to Money Market and Bond Funds
According to a report by Jinse Finance, Bank of America stated that money market funds have seen their largest inflows since January, while investment-grade and high-yield bond funds have recorded their highest inflows since June 2020. Citing EPFR Global data, Bank of America noted that in the week ending August 6: cash assets attracted $106.7 billion, bonds attracted $28.5 billion; gold saw outflows of $200 million, and cryptocurrencies experienced outflows of $1.9 billion, marking the largest single-week outflow since March; the stock market saw outflows of $41.7 billion, but this was entirely driven by the unusual liquidation outflows of three UK-registered funds on July 31.
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