By Syndicated Content
Apr 5, 2021 3:32 AM
(Reuters) - Investments into money market funds surged to the highest this year in the week ended March 31, as investors favoured safety amid a fall in bond prices and fresh lockdowns in Europe, with the region grappling to contain a rising number of coronavirus infections.
Global money market funds received inflows of $44.7 billion in the week, the biggest since the week ended Dec. 30, data from Refinitiv Lipper showed.
On the other hand, equity funds obtained inflows of $17.6 billion, the lowest in three weeks, pressured by a surge in U.S. bond yields.
Overall, equity funds received net buying of $289.6 billion in the first quarter, the biggest since at least 2013, though the inflows slowed by the end of the quarter. (Graphic: Fund flows into global equities bonds and money markets, https://fingfx.thomsonreuters.com/gfx/mkt/gjnpwomynpw/Fund%20flows%20into%20global%20equities%20bonds%20and%20money%20markets.jpg)
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U S money market funds see heavy inflows for second week - Lipper
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Fund managers positive on high-yield credit in China Indonesian government bonds also popular with investors Important to monitor default risk in China
TOKYO, March 9 (Reuters) - Global investors fleeing a shakeout in U.S. and other developed market bonds are finding harbour in the higher yields and relative stability offered by Asian junk-rated debt.
The rise in long-term yields in major economies to multi-year highs is reminiscent of the 2013 taper tantrum, except that India, Indonesia and others in Asia aren’t seeing the selloff in bonds and currencies they did back then.
Now, with the backing of stronger economies, less profligate governments and healthier current accounts, the region is becoming a refuge for yield seekers.