Global money market funds draw large inflows on election-driven caution

Oct 25 - Global investors channelised large investments into the safety of money market funds in the week through Oct. 23 on caution over the upcoming elections in the United States and Japan, and the shift in the outlook for U.S. interest rates.

Uncertainties around a U.S. presidential election on Nov. 5, with polls suggesting a neck-and-neck race in crucial swing states, and potential risks of Japan's ruling Liberal Democratic Party losing its majority in a parliamentary election on Sunday, boosted demand for low-risk assets. China equity funds were meanwhile, popular for a fourth consecutive week as they garnered about $1.23 billion worth of inflows.

Global short-term and high-yield funds, and dollar-denominated medium-term bond funds attracted a notable $ 1.6 billion, $1.14 billion and $1.24 billion worth of inflows, respectively.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Wyckoff Brings Decades of Market Expertise to Kitco NEWSLearn about Jim Wyckoff's extensive background in the stock, financial, and commodity markets, including his roles as a journalist, analyst, and consultant.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »