STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - Global money market funds drew significant inflows in the week ended Aug. 30, as investors sought safety amid increasing perception that major central banks would maintain elevated interest rates for an extended period.
Against the backdrop of a surprisingly resilient U.S. economy, the case for an extended period of elevated interest rates has strengthened. This sentiment made investors more cautious ahead of crucial economic data: Thursday's report on U.S. Personal Consumption Expenditures and Friday's non-farm payrolls figures.
Meanwhile, riskier equity funds recorded a fourth straight week of outflows with about $2.73 billion in net disposals.