Global money market funds attracted heavy investment flows in the week to June 2, as investors were cautious about the likelihood of global central banks tapering their monetary stimulus policies amid a rise in inflation levels.
U.S equity funds faced outflows in the week to June 2, on concerns over rising inflation and the prospect of an earlier withdrawal of the Federal Reserve's stimulus support.
By Reuters Staff
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WASHINGTON (Reuters) -U.S. Secretary Marty Walsh welcomed a “good, solid” jobs report on Friday and predicted more Americans would get back to work in the next couple of months as the coronavirus pandemic wanes with increased vaccinations.
Walsh said in an interview with CNBC the jobs report shows U.S. President Joe Biden’s economic plan is working and “we are seeing the light at the end of the tunnel.”
The tourism and hospitality industry is showing growth and that is a positive development that promises to strengthen over the summer months, Walsh said.
The pace of interest rate hikes by emerging market central banks slowed in May as policy makers in developing nations face uneven economic recoveries from the COVID-19 pandemic.